Northern Trust Corp Reduces Holdings in Carter's, Inc. $CRI

Key Points

• Northern Trust Corp has reduced its holdings in Carter's, Inc. by 9.6%, now owning approximately 1.10% of the company valued at $16.4 million after selling 42,511 shares in the first quarter.
• Various other investors have changed their positions in Carter's, with Allworth Financial LP increasing its stake by 313.1% and several firms establishing new positions.
• Carter's reported a net margin of 4.79% in its recent quarterly earnings but missed EPS estimates, leading to downgrades from several analysts, with a current consensus rating of "Strong Sell".

Northern Trust Corp reduced its position in Carter's, Inc. (NYSE:CRI - Free Report) by 9.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 400,991 shares of the textile maker's stock after selling 42,511 shares during the period. Northern Trust Corp owned 1.10% of Carter's worth $16,401,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CRI. Allworth Financial LP increased its position in Carter's by 313.1% during the first quarter. Allworth Financial LP now owns 723 shares of the textile maker's stock worth $28,000 after buying an additional 548 shares during the period. Colonial Trust Co SC purchased a new position in shares of Carter's during the fourth quarter worth approximately $29,000. Parallel Advisors LLC increased its holdings in shares of Carter's by 80.9% in the 1st 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 period. Headlands Technologies LLC purchased a new stake in Carter's in the 1st quarter valued at $58,000. Finally, US Bancorp DE boosted its stake 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 purchasing an additional 437 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRI. UBS Group lowered their price objective 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. Zacks Research lowered Carter's from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 13th. Barclays dropped their price target on Carter's from $25.00 to $22.00 and set an "underweight" rating on the stock in a research report on Tuesday, July 29th. Finally, Wells Fargo & Company increased their price objective on Carter's from $25.00 to $28.00 and gave the stock an "underweight" rating in a research report on Wednesday, May 14th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Strong Sell" and an average price target of $30.25.

Carter's Stock Performance

NYSE:CRI opened at $28.97 on Wednesday. The firm's fifty day simple moving average is $28.50 and its 200-day simple moving average is $34.18. 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 stock has a market cap of $1.06 billion, a PE ratio of 7.68 and a beta of 1.02. Carter's, Inc. has a fifty-two week low of $23.38 and a fifty-two week high of $71.99.

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 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 during the quarter, compared to analyst estimates of $563.24 million. During the same quarter last year, the business earned $0.76 EPS. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. Analysts expect that Carter's, Inc. will post 5.15 earnings per share for the current fiscal year.

Carter's Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, August 26th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. Carter's's dividend 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.

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