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

Several other large investors have also bought and sold shares of CRI. GAMMA Investing LLC raised its position in shares of Carter's by 38.2% in the 1st quarter. GAMMA Investing LLC now owns 2,004 shares of the textile maker's stock worth $82,000 after acquiring an additional 554 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in Carter's in the 1st quarter valued at about $780,000. Mirae Asset Global Investments Co. Ltd. increased its position in Carter's by 12.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,790 shares of the textile maker's stock valued at $1,205,000 after buying an additional 3,243 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in Carter's in the 1st quarter valued at about $1,199,000. Finally, Royce & Associates LP bought a new stake in Carter's in the 1st quarter valued at about $588,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CRI. Barclays decreased their target price on Carter's from $25.00 to $22.00 and set an "underweight" rating for the company in a research report on Tuesday, July 29th. Wells Fargo & Company boosted their target price on Carter's from $25.00 to $28.00 and gave the stock an "underweight" rating in a research note on Wednesday, May 14th. Finally, UBS Group lowered their price target 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 Performance

CRI stock traded down $0.96 during midday trading on Monday, reaching $24.41. 532,219 shares of the company's stock traded hands, compared to its average volume of 1,549,609. The company has a 50-day moving average price of $30.07 and a two-hundred day moving average price of $37.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 2.20. Carter's, Inc. has a 52 week low of $23.38 and a 52 week high of $71.99. The firm has a market capitalization of $889.07 million, a PE ratio of 6.49 and a beta of 0.99.

Carter's (NYSE:CRI - Get Free Report) last issued its earnings results on Friday, July 25th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $563.24 million. During the same period in the previous year, the firm earned $0.76 EPS. The company's revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Carter's, Inc. will post 5.15 EPS for the current year.

Carter's Increases Dividend

The company also recently declared a dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, June 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This is an increase from Carter's's previous dividend of $0.22. This represents a dividend yield of 319.0%. Carter's's payout ratio is currently 26.53%.

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.