Sound Income Strategies LLC Has $222,000 Holdings in Carter's, Inc. $CRI

Key Points

• Sound Income Strategies LLC has significantly reduced its holdings in Carter's, Inc. by **96.9%** during the second quarter, now owning only 7,363 shares valued at about **$222,000**.
• Carter's recently reported a disappointing **$0.17 EPS**, missing analysts' expectations of **$0.43**, and showing a year-over-year revenue increase of **3.7%** to **$585.31 million**.
• The company has also announced a quarterly dividend of **$0.25**, with a yield of **3.5%**, while the overall sentiment from analysts has shifted to a **"Strong Sell"** rating for the stock.

Sound Income Strategies LLC trimmed its holdings in shares of Carter's, Inc. (NYSE:CRI - Free Report) by 96.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,363 shares of the textile maker's stock after selling 229,447 shares during the period. Sound Income Strategies LLC's holdings in Carter's were worth $222,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CRI. Allworth Financial LP raised its holdings in shares of Carter's by 313.1% in the first 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. Signaturefd LLC increased its position in Carter's by 269.0% in the 2nd quarter. Signaturefd LLC now owns 1,000 shares of the textile maker's stock valued at $30,000 after acquiring an additional 729 shares in the last quarter. Parallel Advisors LLC increased its position in 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 in the last quarter. US Bancorp DE raised its stake in shares of Carter's by 45.0% in the first 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. Finally, Headlands Technologies LLC acquired a new position in shares of Carter's during the first quarter worth approximately $58,000.

Carter's Stock Down 2.2%

NYSE:CRI opened at $28.56 on Tuesday. 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 12-month low of $23.38 and a 12-month high of $68.69. The stock's fifty day simple moving average is $27.87 and its 200-day simple moving average is $32.10. The firm has a market capitalization of $1.04 billion, a P/E ratio of 7.58 and a beta of 1.02.

Carter's (NYSE:CRI - Get Free Report) last released 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 company had revenue of $585.31 million during the quarter, compared to the consensus estimate of $563.24 million. During the same quarter in the prior year, the company posted $0.76 EPS. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts expect that Carter's, Inc. will post 5.15 earnings per share for the current year.

Carter's Cuts Dividend

The company also recently announced 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 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, August 26th. Carter's's dividend payout ratio is presently 26.53%.

Analyst Ratings Changes

A number of analysts recently weighed in on CRI shares. Zacks Research lowered shares of Carter's from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 13th. Barclays decreased their price objective 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, UBS Group dropped their target price on Carter's from $32.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Two equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Carter's has a consensus rating of "Strong Sell" and a consensus price target of $30.25.

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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