Easterly Investment Partners LLC Cuts Holdings in Carter's, Inc. $CRI

Key Points

• Easterly Investment Partners LLC reduced its stake in Carter's, Inc. by 28.1%, owning 44,200 shares after selling 17,268 shares, valued at approximately $1.33 million.
• Carter's reported earnings per share of $0.17 for the last quarter, falling short of expectations, although their quarterly revenue increased by 3.7% year-over-year.
• The company recently declared a quarterly dividend of $0.25 per share with a yield of 3.4%, but it reflects a decrease compared to the previous year's earnings of $0.76 per share.

Easterly Investment Partners LLC lessened its stake in Carter's, Inc. (NYSE:CRI - Free Report) by 28.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,200 shares of the textile maker's stock after selling 17,268 shares during the period. Easterly Investment Partners LLC owned approximately 0.12% of Carter's worth $1,332,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP grew its stake in Carter's by 313.1% in the 1st quarter. Allworth Financial LP now owns 723 shares of the textile maker's stock worth $28,000 after buying an additional 548 shares in the last quarter. Signaturefd LLC grew its stake in Carter's by 269.0% in the 2nd quarter. Signaturefd LLC now owns 1,000 shares of the textile maker's stock worth $30,000 after buying an additional 729 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Carter's during the 1st quarter valued at about $58,000. US Bancorp DE raised its holdings in shares of Carter's by 45.0% during the 1st quarter. US Bancorp DE now owns 1,408 shares of the textile maker's stock valued at $58,000 after buying an additional 437 shares in the last quarter. Finally, Security National Bank purchased a new position in shares of Carter's during the 1st quarter valued at about $69,000.

Carter's Trading Down 2.6%

Shares of CRI opened at $29.68 on Friday. The stock has a market capitalization of $1.08 billion, a P/E ratio of 7.87 and a beta of 1.07. The company has a quick ratio of 1.03, a current ratio of 2.20 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $28.61 and a two-hundred day simple moving average of $31.11. Carter's, Inc. has a twelve month low of $23.38 and a twelve month high of $67.97.

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). The firm had revenue of $585.31 million for the quarter, compared to analysts' expectations of $563.24 million. Carter's had a net margin of 4.79% and a return on equity of 20.68%. The company's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. On average, research analysts anticipate that Carter's, Inc. will post 5.15 EPS for the current year.

Carter's Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, August 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $1.00 annualized dividend and a yield of 3.4%. Carter's's dividend payout ratio is presently 26.53%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CRI shares. Weiss Ratings reissued a "sell (d+)" rating on shares of Carter's in a report on Tuesday. UBS Group cut their price objective on shares of Carter's from $32.00 to $26.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Zacks Research raised shares of Carter's from a "strong sell" rating to a "hold" rating in a research note on Monday, October 13th. Finally, Barclays upped their price objective on shares of Carter's from $22.00 to $23.00 and gave the company an "underweight" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $30.50.

Carter's Company 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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