Carter's, Inc. $CRI Stake Lifted by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in Carter's, Inc. by 12.2%, acquiring 21,805 shares during the first quarter, bringing its total ownership to approximately 0.55% valued at $8.19 million.
• Carter's reported a loss of $0.26 per share in its latest earnings, significantly missing analysts' expectations, despite a revenue increase of 3.7% year-over-year.
• Several analysts have revised their price targets for Carter's, with Barclays lowering theirs from $25 to $22, and the stock currently holds an average rating of "Strong Sell."

Wellington Management Group LLP grew its position in Carter's, Inc. (NYSE:CRI - Free Report) by 12.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,215 shares of the textile maker's stock after purchasing an additional 21,805 shares during the period. Wellington Management Group LLP owned approximately 0.55% of Carter's worth $8,189,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Colonial Trust Co SC acquired a new position in shares of Carter's in the 4th quarter valued at about $29,000. Allworth Financial LP lifted its stake in shares of Carter's by 313.1% in the 1st quarter. Allworth Financial LP now owns 723 shares of the textile maker's stock valued at $28,000 after purchasing an additional 548 shares in the last quarter. Parallel Advisors LLC lifted its stake 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 purchasing an additional 475 shares in the last quarter. Quarry LP lifted its stake in shares of Carter's by 351.8% in the 4th quarter. Quarry LP now owns 1,351 shares of the textile maker's stock valued at $73,000 after purchasing an additional 1,052 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Carter's by 45.0% in the 1st quarter. US Bancorp DE now owns 1,408 shares of the textile maker's stock valued at $58,000 after purchasing an additional 437 shares in the last quarter.

Wall Street Analysts Forecast Growth

CRI has been the topic of several recent research reports. Barclays reduced 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. Wells Fargo & Company boosted their price target on Carter's from $25.00 to $28.00 and gave the stock an "underweight" rating in a research report on Wednesday, May 14th. Zacks Research lowered Carter's from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 13th. Finally, 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 research report on Monday, July 28th. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Strong Sell" and a consensus target price of $30.25.

Carter's Stock Performance

Shares of NYSE CRI traded down $0.45 during trading on Wednesday, reaching $28.57. The stock had a trading volume of 1,342,179 shares, compared to its average volume of 1,254,303. Carter's, Inc. has a one year low of $23.38 and a one year high of $71.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 2.20. The stock has a market cap of $1.04 billion, a PE ratio of 7.58 and a beta of 1.02. The firm's 50 day moving average price is $28.47 and its two-hundred day moving average price is $34.14.

Carter's (NYSE:CRI - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The textile maker reported $0.17 earnings per share 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 firm had revenue of $585.31 million during the quarter, compared to the consensus estimate of $563.24 million. During the same quarter last year, the firm posted $0.76 earnings per share. Carter's's revenue was up 3.7% compared to the same quarter last year. On average, research analysts forecast that Carter's, Inc. will post 5.15 earnings per share for the current fiscal year.

Carter's Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, August 26th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, August 26th. Carter's's dividend payout ratio is presently 26.53%.

About Carter's

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.