Bank of New York Mellon Corp Sells 202,277 Shares of Carter's, Inc. (NYSE:CRI)

Bank of New York Mellon Corp trimmed its holdings in Carter's, Inc. (NYSE:CRI - Free Report) by 25.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 607,887 shares of the textile maker's stock after selling 202,277 shares during the period. Bank of New York Mellon Corp owned 1.69% of Carter's worth $24,863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its holdings in Carter's by 114.4% during the 4th quarter. Jones Financial Companies Lllp now owns 506 shares of the textile maker's stock valued at $27,000 after purchasing an additional 270 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Carter's by 7.1% during the 4th quarter. Hsbc Holdings PLC now owns 5,217 shares of the textile maker's stock worth $279,000 after buying an additional 347 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Carter's by 1.7% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 26,147 shares of the textile maker's stock worth $1,417,000 after buying an additional 448 shares during the period. Parallel Advisors LLC grew its stake in Carter's by 80.9% in 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 last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Carter's by 2,112.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 531 shares of the textile maker's stock valued at $29,000 after acquiring an additional 507 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. UBS Group decreased their target price on Carter's from $37.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Barclays began coverage on Carter's in a research note on Monday, April 28th. They issued an "underweight" rating and a $25.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on Carter's from $25.00 to $28.00 and gave the stock an "underweight" rating in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $36.80.

Carter's Price Performance

Carter's stock traded up $0.04 during mid-day trading on Friday, reaching $30.45. 967,501 shares of the company were exchanged, compared to its average volume of 1,386,179. The firm has a market cap of $1.11 billion, a PE ratio of 6.74 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.56 and a quick ratio of 1.40. The company has a fifty day simple moving average of $32.17 and a 200-day simple moving average of $40.24. Carter's, Inc. has a 12 month low of $29.36 and a 12 month high of $71.99.

Carter's (NYSE:CRI - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The textile maker reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.13. Carter's had a return on equity of 23.50% and a net margin of 5.80%. The company had revenue of $291.09 million for the quarter, compared to analysts' expectations of $624.86 million. During the same quarter last year, the business earned $0.98 earnings per share. Carter's's revenue was down 4.8% on a year-over-year basis. As a group, equities research analysts expect 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 was paid on Friday, June 20th. Investors of record on Tuesday, June 3rd were given a dividend of $0.25 per share. This is a positive change from Carter's's previous dividend of $0.22. The ex-dividend date of this dividend was Monday, June 2nd. This represents a dividend yield of 3.19%. Carter's's dividend payout ratio (DPR) is currently 22.12%.

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.