Angeles Wealth Management LLC Purchases 46,398 Shares of Carter's, Inc. (NYSE:CRI)

Key Points

• Angeles Wealth Management LLC significantly increased its stake in Carter's, Inc. by 686.2%, now owning 53,160 shares valued at approximately $2.17 million.
• Carter's has experienced recent analyst downgrades, with Wells Fargo lowering its price target from $25 to $28, while UBS cut theirs from $37 to $32, indicating a consensus rating of "Reduce."
• The company reported disappointing earnings with a miss on EPS estimates, earning only $0.17 per share against an expected $0.43, but posted revenue growth of 3.7% from the previous year.

Angeles Wealth Management LLC raised its position in Carter's, Inc. (NYSE:CRI - Free Report) by 686.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,160 shares of the textile maker's stock after purchasing an additional 46,398 shares during the period. Angeles Wealth Management LLC owned 0.15% of Carter's worth $2,174,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in Carter's by 313.1% in 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 during the last quarter. Colonial Trust Co SC bought a new stake in shares of Carter's during the 4th quarter valued at about $29,000. Parallel Advisors LLC raised its stake in Carter's by 80.9% in the first quarter. Parallel Advisors LLC now owns 1,062 shares of the textile maker's stock worth $43,000 after buying an additional 475 shares in the last quarter. True Wealth Design LLC raised its stake in Carter's by 173.0% in the fourth quarter. True Wealth Design LLC now owns 901 shares of the textile maker's stock worth $49,000 after buying an additional 571 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Carter's in the fourth quarter worth about $54,000.

Carter's Price Performance

Carter's stock traded down $0.37 during mid-day trading on Wednesday, hitting $25.22. The stock had a trading volume of 638,262 shares, compared to its average volume of 1,555,266. The firm has a market capitalization of $918.76 million, a P/E ratio of 6.70 and a beta of 0.98. The company has a current ratio of 2.20, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The firm's 50 day moving average is $31.22 and its 200 day moving average is $38.87. Carter's, Inc. has a one year low of $23.50 and a one year high of $71.99.

Carter's (NYSE:CRI - Get Free Report) last posted its earnings results on Friday, July 25th. The textile maker reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.26). The company had revenue of $585.31 million for the quarter, compared to analysts' expectations of $563.24 million. Carter's had a net margin of 4.79% and a return on equity of 20.68%. The business's revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 earnings per share. On average, 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 firm also recently disclosed a dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, June 3rd were given a dividend of $0.25 per share. The ex-dividend date was Monday, June 2nd. This represents a yield of 3.19%. This is a positive change from Carter's's previous dividend of $0.22. Carter's's dividend payout ratio (DPR) is 26.53%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRI. Barclays dropped their price objective on shares of Carter's from $25.00 to $22.00 and set an "underweight" rating on the stock in a research note on Tuesday. Wells Fargo & Company increased their price objective on shares of Carter's from $25.00 to $28.00 and gave the company an "underweight" rating in a research report on Wednesday, May 14th. 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 research report on Monday.

Carter's Company 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.