Michael Dennis Casey Sells 20,700 Shares of Carter’s Inc. (CRI) Stock
Carter’s Inc. (NYSE:CRI) Chairman Michael Dennis Casey sold 20,700 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $93.20, for a total transaction of $1,929,240.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Carter’s Inc. (NYSE:CRI) opened at 91.68 on Thursday. The company’s 50-day moving average is $87.40 and its 200 day moving average is $98.05. Carter’s Inc. has a 12 month low of $83.44 and a 12 month high of $112.58. The stock has a market capitalization of $4.53 billion, a P/E ratio of 19.37 and a beta of 0.36.
Carter’s (NYSE:CRI) last released its earnings results on Thursday, October 27th. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.67 by $0.06. Carter’s had a return on equity of 30.07% and a net margin of 7.78%. The business had revenue of $901 million for the quarter, compared to the consensus estimate of $901.99 million. During the same quarter last year, the business posted $1.51 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts predict that Carter’s Inc. will post $5.04 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Monday, November 21st will be issued a $0.33 dividend. This is an increase from Carter’s’s previous quarterly dividend of $0.22. This represents a $1.32 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Thursday, November 17th. Carter’s’s payout ratio is presently 27.85%.
A number of brokerages have issued reports on CRI. FBR & Co reissued a “buy” rating and set a $111.00 price objective on shares of Carter’s in a research report on Friday, September 16th. Zacks Investment Research downgraded shares of Carter’s from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. Monness Crespi & Hardt reduced their price objective on shares of Carter’s from $118.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, October 28th. Wells Fargo & Co. downgraded shares of Carter’s from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $111.00 to $93.00 in a research report on Tuesday, September 27th. Finally, Credit Agricole SA began coverage on shares of Carter’s in a research report on Wednesday, September 28th. They set an “underperform” rating and a $95.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Carter’s presently has a consensus rating of “Hold” and a consensus target price of $108.70.
Several hedge funds have recently added to or reduced their stakes in the stock. Fiera Capital Corp increased its stake in Carter’s by 1,417.3% in the second quarter. Fiera Capital Corp now owns 480,981 shares of the company’s stock valued at $51,210,000 after buying an additional 449,281 shares during the last quarter. Morgan Stanley increased its stake in Carter’s by 168.2% in the third quarter. Morgan Stanley now owns 596,909 shares of the company’s stock valued at $51,759,000 after buying an additional 374,387 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in Carter’s during the second quarter valued at $36,434,000. Thrivent Financial for Lutherans increased its stake in Carter’s by 4,167.5% in the second quarter. Thrivent Financial for Lutherans now owns 283,360 shares of the company’s stock valued at $30,170,000 after buying an additional 276,720 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in Carter’s during the second quarter valued at $29,457,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.
Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International. Its international segment includes Company-operated retail stores, wholesale and online operations in addition to royalty income from its international licensees.
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