Edgestream Partners L.P. Sells 10,989 Shares of Carter's, Inc. (NYSE:CRI)

Edgestream Partners L.P. cut its stake in Carter's, Inc. (NYSE:CRI - Free Report) by 32.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,767 shares of the textile maker's stock after selling 10,989 shares during the period. Edgestream Partners L.P. owned 0.06% of Carter's worth $931,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Alps Advisors Inc. raised its stake in shares of Carter's by 7.7% during the first quarter. Alps Advisors Inc. now owns 163,727 shares of the textile maker's stock worth $6,696,000 after buying an additional 11,773 shares during the last quarter. Allworth Financial LP increased 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 valued at $28,000 after purchasing an additional 548 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Carter's by 39.6% in the first quarter. Nisa Investment Advisors LLC now owns 21,400 shares of the textile maker's stock valued at $875,000 after purchasing an additional 6,070 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in Carter's by 20.8% in the first quarter. Crossmark Global Holdings Inc. now owns 7,170 shares of the textile maker's stock valued at $293,000 after purchasing an additional 1,234 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Carter's by 2.7% in the first quarter. Envestnet Asset Management Inc. now owns 52,629 shares of the textile maker's stock valued at $2,153,000 after purchasing an additional 1,389 shares in the last quarter.

Carter's Stock Up 6.8%

CRI traded up $2.13 during trading hours on Tuesday, hitting $33.54. 1,532,497 shares of the company's stock were exchanged, compared to its average volume of 1,393,692. Carter's, Inc. has a 1-year low of $29.36 and a 1-year high of $71.99. The stock's 50-day moving average is $32.10 and its two-hundred day moving average is $39.88. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 7.42 and a beta of 0.98. The company has a quick ratio of 1.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.59.

Carter's (NYSE:CRI - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The textile maker reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.13. The firm had revenue of $291.09 million during the quarter, compared to analysts' expectations of $624.86 million. Carter's had a net margin of 5.80% and a return on equity of 23.50%. The company's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 earnings per share. Sell-side analysts predict 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. Shareholders of record on Tuesday, June 3rd were paid a $0.25 dividend. The ex-dividend date was Monday, June 2nd. This represents a yield of 3.19%. This is a boost from Carter's's previous dividend of $0.22. Carter's's dividend payout ratio (DPR) is currently 22.12%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CRI shares. Barclays started coverage on shares of Carter's in a research report on Monday, April 28th. They set an "underweight" rating and a $25.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of Carter's from $25.00 to $28.00 and gave the stock an "underweight" rating in a research report on Wednesday, May 14th. Finally, UBS Group lowered their price objective on shares of Carter's from $37.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Three 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 has an average rating of "Reduce" and a consensus price target of $36.80.

Carter's 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.