CX Institutional Boosts Stock Holdings in Carter's, Inc. $CRI

Key Points

• CX Institutional increased its holdings in Carter's, Inc. by 117.7% in the second quarter, owning 134,219 shares valued at approximately $4 million.
• Carter's reported earnings per share of $0.17 for the last quarter, missing the consensus estimate, though revenue increased by 3.7% year-over-year to $585.31 million.
• The company recently cut its dividend to $0.25 per share, leading to an annual yield of 3.2%, while also facing downgrades from several analysts, with a consensus rating of "Strong Sell."

CX Institutional grew its position in shares of Carter's, Inc. (NYSE:CRI - Free Report) by 117.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134,219 shares of the textile maker's stock after acquiring an additional 72,573 shares during the quarter. CX Institutional owned 0.37% of Carter's worth $4,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CRI. Allworth Financial LP boosted its holdings in Carter's by 313.1% during the 1st quarter. Allworth Financial LP now owns 723 shares of the textile maker's stock worth $28,000 after acquiring an additional 548 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Carter's by 80.9% during the 1st quarter. Parallel Advisors LLC now owns 1,062 shares of the textile maker's stock worth $43,000 after acquiring an additional 475 shares during the last quarter. US Bancorp DE boosted its holdings in Carter's by 45.0% during the 1st quarter. US Bancorp DE now owns 1,408 shares of the textile maker's stock worth $58,000 after acquiring an additional 437 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Carter's during the 1st quarter worth $58,000. Finally, Security National Bank bought a new stake in shares of Carter's during the 1st quarter worth $69,000.

Carter's Trading Down 1.7%

Shares of CRI opened at $31.26 on Friday. The business's 50-day moving average price is $28.09 and its 200-day moving average price is $32.68. Carter's, Inc. has a twelve month low of $23.38 and a twelve month high of $68.69. The stock has a market cap of $1.14 billion, a PE ratio of 8.29 and a beta of 1.02. 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 (NYSE:CRI - Get Free Report) last announced its quarterly 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 company had revenue of $585.31 million for the quarter, compared to the consensus estimate of $563.24 million. During the same quarter in the prior year, the company earned $0.76 earnings per share. The company's quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Carter's, Inc. will post 5.15 EPS for the current fiscal year.

Carter's Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, August 26th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, August 26th. Carter's's payout ratio is currently 26.53%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CRI. UBS Group lowered their target price on Carter's from $32.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Barclays lowered their target price on Carter's from $25.00 to $22.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 29th. Finally, Zacks Research cut Carter's from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Carter's has an average rating of "Strong Sell" and an average target price 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.

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