VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 35,200 Shares of Carter's, Inc. $CRI

Key Points

• Virginia Retirement Systems increased its Carter’s stake by 362.9% in the third quarter, buying 35,200 shares and ending the period with 44,900 shares valued at about $1.41 million.
• Carter’s quarterly results beat analyst estimates: earnings were $1.03 per share versus $0.85 expected, and revenue was $752.46 million versus $747.34 million expected. Revenue nevertheless fell 0.7% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $38.62. Carter’s had also declared a quarterly dividend of $0.25 per share, equivalent to a 3.0% annualized yield at the cited share price.

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Carter's, Inc. (NYSE:CRI - Free Report) by 362.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,900 shares of the textile maker's stock after purchasing an additional 35,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.12% of Carter's worth $1,406,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in shares of Carter's by 16,840.0% in the third quarter. IFP Advisors Inc now owns 847 shares of the textile maker's stock valued at $27,000 after buying an additional 842 shares during the period. Elevation Wealth Partners LLC grew its position in Carter's by 3,889.3% during the third quarter. Elevation Wealth Partners LLC now owns 1,117 shares of the textile maker's stock worth $35,000 after buying an additional 1,089 shares in the last quarter. Nykredit A S acquired a new stake in Carter's during the second quarter worth approximately $72,000. Versant Capital Management Inc grew its position in Carter's by 39.4% during the third quarter. Versant Capital Management Inc now owns 3,711 shares of the textile maker's stock worth $116,000 after buying an additional 1,049 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Carter's during the 1st quarter worth $119,000.

Carter's Stock Performance

Shares of NYSE:CRI opened at $33.70 on Thursday. The company's 50 day simple moving average is $31.84 and its 200 day simple moving average is $36.21. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 3.59 and a beta of 0.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.78 and a quick ratio of 1.63. Carter's, Inc. has a 1 year low of $27.86 and a 1 year high of $44.44.

Carter's (NYSE:CRI - Get Free Report) last announced its quarterly earnings data on Friday, October 30th. The textile maker reported $1.03 EPS for the quarter, beating the consensus estimate of $0.85 by $0.18. Carter's had a net margin of 7.40% and a return on equity of 13.25%. The business had revenue of $752.46 million during the quarter, compared to the consensus estimate of $747.34 million. During the same period in the previous year, the business earned $0.74 earnings per share. The company's revenue was down .7% on a year-over-year basis. As a group, research analysts predict that Carter's, Inc. will post 3.22 EPS for the current fiscal year.

Carter's Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st were paid a $0.25 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $1.00 annualized dividend and a dividend yield of 3.0%. Carter's's dividend payout ratio (DPR) is presently 16.61%.

Analyst Ratings Changes

Several equities analysts have weighed in on CRI shares. Wall Street Zen cut Carter's from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 26th. Wells Fargo & Company reduced their target price on Carter's from $42.00 to $30.00 and set an "equal weight" rating on the stock in a report on Monday, October 12th. Weiss Ratings upgraded Carter's from a "sell (d+)" rating to a "hold (c)" rating in a research report on Thursday, August 13th. Capital One Financial set a $40.00 price target on Carter's in a research report on Tuesday, September 8th. Finally, Citigroup reaffirmed a "buy" rating on shares of Carter's in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $38.62.

About Carter's

Carter's, Inc NYSE: CRI is a major designer, source and marketer of apparel and related products for babies and young children. The company offers clothing, accessories, footwear, gifts and other products for infants, toddlers and children through brands including Carter's, OshKosh B'gosh, Little Planet and Skip Hop.

Founded in 1865, Carter's has built a long-standing presence in the children's apparel market. Its products are sold through company-operated retail stores, e-commerce websites and wholesale partners, including department stores, mass merchants and specialty retailers.

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