AQR Capital Management LLC Has $48.34 Million Stock Holdings in Carter's, Inc. $CRI

Key Points

• AQR Capital Management LLC reduced its stake in Carter's, Inc. (NYSE:CRI) by 31%, now owning approximately 1.2 million shares, worth around $48.3 million.
• Carter's reported $0.17 earnings per share for the recent quarter, missing estimates of $0.43, while revenue increased by 3.7% year-over-year to $585.31 million.
• The company announced a quarterly dividend of $0.25, representing a 3.5% yield, set to be paid on September 12th.

AQR Capital Management LLC lessened its holdings in shares of Carter's, Inc. (NYSE:CRI - Free Report) by 31.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,199,759 shares of the textile maker's stock after selling 539,763 shares during the period. AQR Capital Management LLC owned approximately 3.29% of Carter's worth $48,338,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Hsbc Holdings PLC lifted its holdings in shares of Carter's by 7.1% during the fourth 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 last quarter. Covestor Ltd increased its position in Carter's by 18.6% during the first quarter. Covestor Ltd now owns 2,575 shares of the textile maker's stock worth $106,000 after acquiring an additional 404 shares during the period. US Bancorp DE boosted its holdings in Carter's by 45.0% in the 1st quarter. US Bancorp DE now owns 1,408 shares of the textile maker's stock valued at $58,000 after purchasing an additional 437 shares during the period. Parallel Advisors LLC grew its position in Carter's by 80.9% in the 1st quarter. Parallel Advisors LLC now owns 1,062 shares of the textile maker's stock worth $43,000 after purchasing an additional 475 shares during the last quarter. Finally, Colonial Trust Co SC bought a new position in shares of Carter's during the 4th quarter worth about $29,000.

Analyst Ratings Changes

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

Carter's Price Performance

CRI stock traded down $0.50 during midday trading on Friday, reaching $29.62. 1,002,063 shares of the company's stock traded hands, compared to its average volume of 1,220,868. The company has a 50-day simple moving average of $28.18 and a two-hundred day simple moving average of $33.09. 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 1-year low of $23.38 and a 1-year high of $71.99. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 7.86 and a beta of 1.02.

Carter's (NYSE:CRI - Get Free Report) last announced its earnings results on Friday, July 25th. The textile maker reported $0.17 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 business had revenue of $585.31 million for the quarter, compared to the consensus estimate of $563.24 million. During the same quarter in the previous year, the company posted $0.76 EPS. Carter's's revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts anticipate that Carter's, Inc. will post 5.15 earnings per share for the current year.

Carter's Cuts Dividend

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

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.