Carter's, Inc. $CRI Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management increased its Carter’s stake by 11.9% in the second quarter, acquiring 68,464 additional shares and bringing its holdings to 645,863 shares, or roughly 1.76% of the company.
• Carter’s reported quarterly EPS of $0.26, beating the $0.06 consensus estimate, while revenue rose 5.2% year over year to $615.49 million. Analysts’ consensus rating is “Moderate Buy,” with a target price of $41.17.
• The company declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 3.0% yield; shares opened at $33.58, below their 50-day and 200-day moving averages.

Wellington Management Group LLP lifted its stake in shares of Carter's, Inc. (NYSE:CRI - Free Report) by 11.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 645,863 shares of the textile maker's stock after purchasing an additional 68,464 shares during the period. Wellington Management Group LLP owned about 1.76% of Carter's worth $26,584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRI. Hantz Financial Services Inc. increased its stake in Carter's by 21.8% during the 4th quarter. Hantz Financial Services Inc. now owns 1,577 shares of the textile maker's stock worth $51,000 after buying an additional 282 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Carter's by 13.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,160 shares of the textile maker's stock worth $135,000 after acquiring an additional 479 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Carter's by 2.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 30,279 shares of the textile maker's stock worth $982,000 after acquiring an additional 629 shares during the last quarter. UMB Bank n.a. increased its position in shares of Carter's by 445.8% during the fourth quarter. UMB Bank n.a. now owns 775 shares of the textile maker's stock worth $25,000 after purchasing an additional 633 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Carter's by 4.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 16,482 shares of the textile maker's stock valued at $497,000 after purchasing an additional 734 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have issued reports on CRI. Wall Street Zen cut shares of Carter's from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 29th. Citigroup restated a "buy" rating on shares of Carter's in a research report on Tuesday, July 21st. UBS Group reaffirmed a "buy" rating on shares of Carter's in a report on Wednesday, July 8th. Weiss Ratings upgraded Carter's from a "sell (d+)" rating to a "hold (c)" rating in a research report on Thursday, August 13th. Finally, Zacks Research raised Carter's from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.17.

Carter's Price Performance

Shares of CRI stock opened at $33.58 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.47 and a quick ratio of 1.50. The firm's 50-day moving average is $37.86 and its two-hundred day moving average is $37.62. Carter's, Inc. has a 12 month low of $27.15 and a 12 month high of $44.44. The company has a market capitalization of $1.23 billion, a PE ratio of 6.29, a price-to-earnings-growth ratio of 3.78 and a beta of 0.84.

Carter's (NYSE:CRI - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The textile maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.20. The business had revenue of $615.49 million during the quarter, compared to analysts' expectations of $605.68 million. Carter's had a net margin of 6.55% and a return on equity of 12.78%. The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 EPS. Analysts predict that Carter's, Inc. will post 3.28 earnings per share for the current year.

Carter's Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 1st. Carter's's dividend payout ratio is 18.73%.

About Carter's

Carter's, Inc NYSE: CRI is a leading designer and marketer of infant and young children's apparel in North America. Headquartered in Atlanta, Georgia, the company's core business focuses on creating clothing and accessories for babies and children, including bodysuits, sleepwear, layette, outerwear and accessories that blend comfort, safety and style. Carter's flagship brand is complemented by its OshKosh B'gosh line, which offers heritage-inspired designs and durable fabrics for toddlers and young kids.

The company distributes its products through a diversified platform that includes wholesale partnerships with major department stores and mass merchandisers, direct‐to‐consumer e-commerce sites, and an extensive network of company-operated retail stores.

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