Angeles Wealth Management LLC Raises Stake in Carter's, Inc. $CRI

Key Points

• Angeles Wealth Management LLC increased its stake in Carter's, Inc. by 33.5%, owning 70,977 shares valued at approximately $2.14 million.
• Carter's reported disappointing earnings of $0.17 per share, missing the estimate by ($0.26), while revenue increased by 3.7% year-over-year.
• The company's dividend payout ratio stands at 26.53%, with a quarterly dividend of $0.25 per share, yielding 3.3% annually.

Angeles Wealth Management LLC raised its stake in Carter's, Inc. (NYSE:CRI - Free Report) by 33.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,977 shares of the textile maker's stock after buying an additional 17,817 shares during the quarter. Angeles Wealth Management LLC owned approximately 0.19% of Carter's worth $2,139,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Carter's by 38.2% in the 1st quarter. GAMMA Investing LLC now owns 2,004 shares of the textile maker's stock valued at $82,000 after purchasing an additional 554 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Carter's in the 1st quarter valued at $250,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Carter's in the 1st quarter valued at $278,000. Lecap Asset Management Ltd. acquired a new position in shares of Carter's in the 1st quarter valued at $488,000. Finally, Security National Bank acquired a new position in shares of Carter's in the 1st quarter valued at $69,000.

Carter's Price Performance

CRI opened at $30.48 on Friday. The stock's 50-day moving average price is $28.53 and its 200 day moving average price is $31.19. Carter's, Inc. has a 12-month low of $23.38 and a 12-month high of $67.97. 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 has a market cap of $1.11 billion, a price-to-earnings ratio of 8.08 and a beta of 1.07.

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 (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.26). Carter's had a return on equity of 20.68% and a net margin of 4.79%.The firm had revenue of $585.31 million for the quarter, compared to analyst estimates of $563.24 million. During the same period in the previous year, the company posted $0.76 EPS. Carter's's revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts expect that Carter's, Inc. will post 5.15 earnings per share for the current year.

Carter's Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, August 26th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 26th. This represents a $1.00 annualized dividend and a yield of 3.3%. Carter's's dividend payout ratio is 26.53%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CRI. Barclays upped their price target on Carter's from $22.00 to $23.00 and gave the company an "underweight" rating in a research note on Tuesday. Zacks Research raised Carter's from a "strong sell" rating to a "hold" rating in a research note on Monday. UBS Group decreased their price target on Carter's from $32.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Carter's in a research note on Tuesday. Three equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Carter's presently has a consensus rating of "Reduce" and an average price target of $30.50.

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.

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