Carter's (NYSE:CRI) Shares Down 2.8% - Here's What Happened

Shares of Carter's, Inc. (NYSE:CRI - Get Free Report) were down 2.8% on Thursday . The company traded as low as $32.91 and last traded at $32.55. Approximately 40,769 shares were traded during trading, a decline of 97% from the average daily volume of 1,299,991 shares. The stock had previously closed at $33.50.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CRI shares. Wells Fargo & Company increased their price target on shares of Carter's from $25.00 to $28.00 and gave the company an "underweight" rating in a research note on Wednesday, May 14th. Citigroup reduced their price objective on Carter's from $50.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Barclays started coverage on shares of Carter's in a research report on Monday, April 28th. They set an "underweight" rating and a $25.00 target price on the stock. Finally, UBS Group reduced their price target on shares of Carter's from $37.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, Carter's currently has an average rating of "Reduce" and an average target price of $36.80.

Carter's Trading Down 2.6%

The company has a quick ratio of 0.96, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company's fifty day moving average price is $35.66 and its two-hundred day moving average price is $45.72. The firm has a market cap of $1.14 billion, a PE ratio of 4.98, a P/E/G ratio of 3.37 and a beta of 1.05.

Carter's (NYSE:CRI - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The textile maker reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.13. Carter's had a net margin of 8.11% and a return on equity of 27.15%. The firm had revenue of $291.09 million for the quarter, compared to analysts' expectations of $624.86 million. During the same period in the prior year, the company earned $0.98 EPS. The firm's revenue was down 4.8% on a year-over-year basis. As a group, sell-side analysts forecast that Carter's, Inc. will post 5.15 earnings per share for the current fiscal year.

Carter's Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, June 2nd. This is an increase from Carter's's previous dividend of $0.22. This represents a dividend yield of 3.19%. Carter's's payout ratio is 22.12%.

Institutional Trading of Carter's

Hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its position in Carter's by 114.4% during the 4th quarter. Jones Financial Companies Lllp now owns 506 shares of the textile maker's stock worth $27,000 after purchasing an additional 270 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Carter's by 313.1% during the first quarter. Allworth Financial LP now owns 723 shares of the textile maker's stock worth $28,000 after purchasing an additional 548 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Carter's by 2,112.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 531 shares of the textile maker's stock worth $29,000 after purchasing an additional 507 shares in the last quarter. Colonial Trust Co SC acquired a new stake in shares of Carter's in the fourth quarter valued at about $29,000. Finally, Parallel Advisors LLC raised its holdings in shares of Carter's by 80.9% during the 1st quarter. Parallel Advisors LLC now owns 1,062 shares of the textile maker's stock valued at $43,000 after buying an additional 475 shares during the period.

About Carter's

Carter's, Inc engages in the business of brand marketing of young children's apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.