Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 28,042 Carter's, Inc. $CRI

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired 28,042 shares of Carter's, Inc., valued at approximately $1,147,000, representing a stake of about 0.08% in the company.
• Carter's reported a quarterly earnings miss with an EPS of $0.17, falling short of the consensus estimate of $0.43, although their revenue increased by 3.7% year-over-year to $585.31 million.
• The company announced a $0.25 quarterly dividend, which translates to an annualized dividend of $1.00, yielding 3.8% with a payout ratio of 26.53%.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Carter's, Inc. (NYSE:CRI - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 28,042 shares of the textile maker's stock, valued at approximately $1,147,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of Carter's at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Allworth Financial LP boosted its position 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 buying an additional 548 shares during the last quarter. Colonial Trust Co SC acquired a new position in shares of Carter's during the fourth quarter valued at $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 acquiring an additional 475 shares during the last quarter. True Wealth Design LLC increased its position in Carter's by 173.0% in the fourth quarter. True Wealth Design LLC now owns 901 shares of the textile maker's stock worth $49,000 after purchasing an additional 571 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Carter's during the 1st quarter worth about $58,000.

Carter's Stock Up 1.7%

CRI traded up $0.4250 during trading on Wednesday, hitting $25.9850. The company had a trading volume of 573,025 shares, compared to its average volume of 1,540,532. The company has a market capitalization of $946.63 million, a PE ratio of 6.87 and a beta of 0.99. 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 one year low of $23.38 and a one year high of $71.99. The firm's 50-day moving average price is $29.22 and its 200 day moving average price is $35.87.

Carter's (NYSE:CRI - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The textile maker reported $0.17 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 firm had revenue of $585.31 million during the quarter, compared to the consensus estimate of $563.24 million. During the same period last year, the business earned $0.76 EPS. The business's revenue was up 3.7% on a year-over-year basis. As a group, equities analysts expect that Carter's, Inc. will post 5.15 earnings per share for the current year.

Carter's Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, August 26th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. Carter's's dividend payout ratio (DPR) is presently 26.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. UBS Group cut their target price on shares of Carter's from $32.00 to $26.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Barclays reduced their price objective on shares of Carter's from $25.00 to $22.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 29th. Zacks Research lowered shares of Carter's from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 13th. Finally, Wells Fargo & Company increased their price target on Carter's from $25.00 to $28.00 and gave the company an "underweight" rating in a research note on Wednesday, May 14th. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Strong Sell" and a consensus price target of $30.25.

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.