Wells Fargo & Company Trims Carter's (NYSE:CRI) Target Price to $68.00

Carter's (NYSE:CRI - Free Report) had its target price reduced by Wells Fargo & Company from $75.00 to $68.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the textile maker's stock.

A number of other equities research analysts have also commented on the stock. Evercore ISI upped their price target on shares of Carter's from $70.00 to $80.00 and gave the company an in-line rating in a report on Wednesday, February 28th. Monness Crespi & Hardt downgraded shares of Carter's from a buy rating to a neutral rating in a research report on Monday, February 26th. Wedbush upped their target price on shares of Carter's from $67.00 to $78.00 and gave the stock a neutral rating in a research report on Friday, February 23rd. StockNews.com cut shares of Carter's from a buy rating to a hold rating in a research note on Wednesday, April 10th. Finally, UBS Group increased their price objective on shares of Carter's from $76.00 to $79.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, Carter's has a consensus rating of Hold and a consensus target price of $73.80.

Carter's Price Performance

NYSE:CRI traded down $1.22 during mid-day trading on Wednesday, hitting $72.64. 1,002,392 shares of the stock traded hands, compared to its average volume of 771,806. The business's 50-day moving average price is $80.33 and its 200 day moving average price is $74.78. The company has a market cap of $2.66 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 2.10 and a beta of 1.29. Carter's has a 12-month low of $60.65 and a 12-month high of $88.03. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.59.

Carter's (NYSE:CRI - Get Free Report) last announced its earnings results on Tuesday, February 27th. The textile maker reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.24. The business had revenue of $858.00 million during the quarter, compared to analyst estimates of $867.81 million. Carter's had a net margin of 7.89% and a return on equity of 28.79%. Carter's's revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.29 earnings per share. On average, analysts expect that Carter's will post 6.52 EPS for the current fiscal year.

Carter's Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were issued a dividend of $0.80 per share. This is an increase from Carter's's previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 8th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.41%. Carter's's payout ratio is 51.04%.

Insider Buying and Selling at Carter's

In related news, Director Mark Hipp sold 1,875 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $81.74, for a total transaction of $153,262.50. Following the completion of the sale, the director now directly owns 10,216 shares in the company, valued at $835,055.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Carter's

Institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its position in Carter's by 59.3% during the fourth quarter. Pacer Advisors Inc. now owns 632,671 shares of the textile maker's stock worth $47,381,000 after buying an additional 235,431 shares during the period. Hussman Strategic Advisors Inc. increased its holdings in shares of Carter's by 103.2% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the textile maker's stock valued at $4,718,000 after purchasing an additional 32,000 shares during the period. Northern Trust Corp increased its holdings in shares of Carter's by 4.9% in the third quarter. Northern Trust Corp now owns 408,095 shares of the textile maker's stock valued at $28,220,000 after purchasing an additional 18,901 shares during the period. Dark Forest Capital Management LP grew its holdings in Carter's by 254.3% during the third quarter. Dark Forest Capital Management LP now owns 77,033 shares of the textile maker's stock worth $5,327,000 after acquiring an additional 55,291 shares during the period. Finally, Sound Income Strategies LLC grew its holdings in Carter's by 7.6% during the fourth quarter. Sound Income Strategies LLC now owns 93,170 shares of the textile maker's stock worth $6,977,000 after acquiring an additional 6,561 shares during the period.

Carter's Company Profile

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.