71,970 Shares in Carter's, Inc. $CRI Bought by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd acquired 71,970 shares of Carter's, Inc., valued at approximately $2.94 million, marking it as their 19th largest position.
• Carter's reported a loss in earnings per share for the quarter, missing estimates with $0.17 EPS against a consensus of $0.43, despite revenue rising 3.7% year-over-year.
• Analysts have shown a negative sentiment towards Carter's stock, with a consensus rating of "Strong Sell" and multiple target price reductions by firms like UBS and Barclays.

Dynamic Technology Lab Private Ltd acquired a new position in shares of Carter's, Inc. (NYSE:CRI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 71,970 shares of the textile maker's stock, valued at approximately $2,944,000. Carter's makes up about 0.4% of Dynamic Technology Lab Private Ltd's portfolio, making the stock its 19th largest holding. Dynamic Technology Lab Private Ltd owned approximately 0.20% of Carter's at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Millennium Management LLC grew its position in shares of Carter's by 14,270.6% in the 1st quarter. Millennium Management LLC now owns 1,631,493 shares of the textile maker's stock valued at $66,728,000 after acquiring an additional 1,620,140 shares during the period. Advisors Asset Management Inc. raised its stake in Carter's by 183.4% in the 1st quarter. Advisors Asset Management Inc. now owns 69,583 shares of the textile maker's stock worth $2,846,000 after purchasing an additional 45,030 shares in the last quarter. Maverick Capital Ltd. bought a new position in Carter's in the 1st quarter valued at about $8,098,000. Royal Bank of Canada increased its holdings in Carter's by 50.2% in the 1st quarter. Royal Bank of Canada now owns 40,649 shares of the textile maker's stock valued at $1,663,000 after buying an additional 13,594 shares during the period. Finally, Graham Capital Management L.P. bought a new stake in shares of Carter's during the 1st quarter valued at approximately $2,451,000.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CRI shares. Barclays reduced their target price on shares of Carter's from $25.00 to $22.00 and set an "underweight" rating on the stock in a report on Tuesday, July 29th. Zacks Research downgraded shares of Carter's from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 13th. Finally, UBS Group lowered their price objective on shares of Carter's from $32.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Strong Sell" and a consensus target price of $30.25.

Carter's Stock Performance

CRI traded down $0.49 during trading on Friday, hitting $29.63. 403,985 shares of the company traded hands, compared to its average volume of 1,515,578. The firm has a market cap of $1.08 billion, a P/E ratio of 7.86 and a beta of 1.02. The stock's fifty day moving average is $28.22 and its 200 day moving average is $33.18. The company has a quick ratio of 1.03, a current ratio of 2.20 and a debt-to-equity ratio of 0.58. Carter's, Inc. has a one year low of $23.38 and a one year high of $71.99.

Carter's (NYSE:CRI - Get Free Report) last issued its earnings results on Friday, July 25th. The textile maker reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.26). The business had revenue of $585.31 million for the quarter, compared to the consensus estimate of $563.24 million. Carter's had a return on equity of 20.68% and a net margin of 4.79%.Carter's's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. As a group, equities analysts predict that Carter's, Inc. will post 5.15 EPS for the current fiscal year.

Carter's Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, August 26th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, August 26th. Carter's's dividend payout ratio (DPR) is currently 26.53%.

Carter's Profile

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.