Pacer Advisors Inc. Cuts Stock Position in Carter's, Inc. (NYSE:CRI)

Key Points

• Pacer Advisors Inc. sold 2,399,591 shares of Carter's, Inc., reducing its stake by 84.2% to 451,488 shares, valued at approximately $18.5 million.
• Carter's has seen mixed analyst ratings, with a consensus price target of $36.80 and several analysts assigning "underweight" and "sell" ratings to the stock.
• The company recently declared a dividend of $0.25 per share, representing a yield of 3.19%, an increase from the previous dividend of $0.22.

Pacer Advisors Inc. lowered its position in Carter's, Inc. (NYSE:CRI - Free Report) by 84.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 451,488 shares of the textile maker's stock after selling 2,399,591 shares during the period. Pacer Advisors Inc. owned 1.24% of Carter's worth $18,466,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royce & Associates LP acquired a new stake in shares of Carter's in the first quarter valued at approximately $588,000. Legato Capital Management LLC increased its holdings in shares of Carter's by 26.0% in the first quarter. Legato Capital Management LLC now owns 34,392 shares of the textile maker's stock valued at $1,407,000 after purchasing an additional 7,107 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Carter's by 6.8% in the first quarter. Allianz Asset Management GmbH now owns 631,557 shares of the textile maker's stock valued at $25,831,000 after purchasing an additional 40,311 shares during the last quarter. Easterly Investment Partners LLC increased its holdings in shares of Carter's by 90.5% in the first quarter. Easterly Investment Partners LLC now owns 61,468 shares of the textile maker's stock valued at $2,514,000 after purchasing an additional 29,200 shares during the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Carter's in the first quarter valued at approximately $3,295,000.

Carter's Trading Down 2.4%

CRI traded down $0.60 on Wednesday, hitting $24.99. The company had a trading volume of 377,377 shares, compared to its average volume of 1,553,086. The firm has a market cap of $910.24 million, a P/E ratio of 6.66 and a beta of 0.98. Carter's, Inc. has a 1 year low of $23.50 and a 1 year high of $71.99. The company's fifty day moving average price is $31.22 and its 200 day moving average price is $38.87. The company has a current ratio of 2.20, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58.

Carter's (NYSE:CRI - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.26). The company had revenue of $585.31 million during 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 firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share. As a group, equities analysts expect that Carter's, Inc. will post 5.15 earnings per share 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 given a dividend of $0.25 per share. This is a positive change from Carter's's previous dividend of $0.22. This represents a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, June 2nd. Carter's's dividend payout ratio (DPR) is currently 26.53%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their price target on Carter's from $25.00 to $28.00 and gave the stock an "underweight" rating in a report on Wednesday, May 14th. UBS Group reduced their price target on Carter's from $32.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Barclays reduced their price target on Carter's from $25.00 to $22.00 and set an "underweight" rating on the stock in a report on Tuesday.

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.