Carter's, Inc. $CRI Holdings Raised 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% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,215 shares of the textile maker's stock after acquiring an additional 21,805 shares during the quarter. Wellington Management Group LLP owned approximately 0.55% of Carter's worth $8,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Versor Investments LP increased its holdings in shares of Carter's by 104.2% in the 1st quarter. Versor Investments LP now owns 9,000 shares of the textile maker's stock valued at $368,000 after acquiring an additional 4,592 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Carter's by 10.9% in the 1st quarter. American Century Companies Inc. now owns 1,183,289 shares of the textile maker's stock valued at $48,397,000 after acquiring an additional 116,113 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Carter's by 19.4% in the 1st quarter. Russell Investments Group Ltd. now owns 15,748 shares of the textile maker's stock valued at $644,000 after acquiring an additional 2,561 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Carter's by 27.2% in the 1st quarter. Public Sector Pension Investment Board now owns 114,247 shares of the textile maker's stock valued at $4,673,000 after acquiring an additional 24,447 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Carter's in the 1st quarter valued at approximately $2,455,000.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRI. UBS Group lowered their price target on Carter's from $32.00 to $26.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Barclays reduced their price objective on Carter's from $25.00 to $22.00 and set an "underweight" rating for the company in a research report on Tuesday, July 29th. Zacks Research lowered Carter's from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 13th. Finally, Wells Fargo & Company boosted their price objective on Carter's from $25.00 to $28.00 and gave the company an "underweight" rating in a research report on Wednesday, May 14th. Two analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Carter's has an average rating of "Strong Sell" and an average target price of $30.25.

Carter's Price Performance

Shares of Carter's stock traded up $0.10 during trading on Tuesday, hitting $28.66. The stock had a trading volume of 694,289 shares, compared to its average volume of 1,534,549. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.20 and a quick ratio of 1.03. The firm has a market cap of $1.04 billion, a P/E ratio of 7.60 and a beta of 1.02. The business has a fifty day moving average of $28.54 and a two-hundred day moving average of $34.22. 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 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.26). The firm had revenue of $585.31 million during the quarter, compared to analyst estimates of $563.24 million. Carter's had a net margin of 4.79% and a return on equity of 20.68%. The company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 EPS. On average, sell-side analysts expect that Carter's, Inc. will post 5.15 earnings per share for the current fiscal year.

Carter's Cuts Dividend

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