CenterBook Partners LP Acquires Shares of 175,720 Carter's, Inc. (NYSE:CRI)

Key Points

• CenterBook Partners LP has acquired 175,720 shares of Carter's, Inc., valued at approximately $7,187,000, constituting 0.48% of the company's stock as of the latest SEC filing.
• Carter's has experienced mixed stock analyst ratings, with Wells Fargo raising its price target to $28 while Barclays lowered it to $22, indicating varying outlooks on the company's performance.
• The company recently raised its dividend to $0.25 per share, reflecting a significant increase from the previous $0.22 dividend, with a payout ratio of 26.53%.

CenterBook Partners LP bought a new stake in shares of Carter's, Inc. (NYSE:CRI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 175,720 shares of the textile maker's stock, valued at approximately $7,187,000. CenterBook Partners LP owned 0.48% of Carter's as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Allworth Financial LP raised its holdings in Carter's by 313.1% in the 1st quarter. Allworth Financial LP now owns 723 shares of the textile maker's stock valued at $28,000 after acquiring an additional 548 shares during the last quarter. Colonial Trust Co SC purchased a new stake in shares of Carter's during the fourth quarter worth $29,000. Parallel Advisors LLC boosted its holdings in Carter's by 80.9% in the first quarter. Parallel Advisors LLC now owns 1,062 shares of the textile maker's stock valued at $43,000 after purchasing an additional 475 shares during the period. True Wealth Design LLC grew its stake in Carter's by 173.0% during the 4th quarter. True Wealth Design LLC now owns 901 shares of the textile maker's stock worth $49,000 after purchasing an additional 571 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Carter's in the 1st quarter valued at about $58,000.

Analysts Set New Price Targets

CRI has been the topic of several research reports. Wells Fargo & Company raised 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. Barclays lowered their price target on shares of Carter's from $25.00 to $22.00 and set an "underweight" rating for the company in a report on Tuesday, July 29th. Finally, UBS Group cut their price objective on shares of Carter's from $32.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, July 28th.

Carter's Stock Up 0.1%

Shares of NYSE CRI opened at $25.31 on Thursday. The company has a market cap of $922.06 million, a P/E ratio of 6.71 and a beta of 0.99. The company has a current ratio of 2.20, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. Carter's, Inc. has a 12-month low of $23.38 and a 12-month high of $71.99. The stock has a fifty day moving average price of $30.32 and a 200 day moving average price of $37.78.

Carter's (NYSE:CRI - Get Free Report) last announced its earnings results on Friday, July 25th. The textile maker reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.26). Carter's had a net margin of 4.79% and a return on equity of 20.68%. The business had revenue of $585.31 million for the quarter, compared to analyst estimates of $563.24 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. The firm's revenue was up 3.7% on a year-over-year basis. Research analysts anticipate that Carter's, Inc. will post 5.15 EPS for the current fiscal year.

Carter's Increases Dividend

The business also recently announced a dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, June 3rd were issued a $0.25 dividend. This represents a dividend yield of 319.0%. The ex-dividend date was Monday, June 2nd. This is a positive change from Carter's's previous dividend of $0.22. Carter's's payout ratio is presently 26.53%.

About Carter's

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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