US Bancorp DE Sells 33,294 Shares of Carter’s Inc. (CRI)
US Bancorp DE lowered its stake in Carter’s Inc. (NYSE:CRI) by 21.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 120,023 shares of the company’s stock after selling 33,294 shares during the period. US Bancorp DE owned about 0.24% of Carter’s worth $10,408,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in CRI. IFP Advisors Inc boosted its stake in shares of Carter’s by 25.2% in the second quarter. IFP Advisors Inc now owns 989 shares of the company’s stock valued at $105,000 after buying an additional 199 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Carter’s during the second quarter valued at about $106,000. Genesee Valley Trust Co. acquired a new stake in shares of Carter’s during the second quarter valued at about $223,000. Advisor Group Inc. acquired a new stake in shares of Carter’s during the second quarter valued at about $224,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Carter’s by 24.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,334 shares of the company’s stock valued at $249,000 after buying an additional 455 shares during the period. 95.00% of the stock is currently owned by institutional investors.
Shares of Carter’s Inc. (NYSE:CRI) traded down 2.10% during mid-day trading on Wednesday, reaching $92.64. 310,622 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $88.22 and a 200 day moving average price of $97.37. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 19.57 and a beta of 0.36. Carter’s Inc. has a 52 week low of $83.44 and a 52 week high of $112.58.
Carter’s (NYSE:CRI) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by $0.06. Carter’s had a net margin of 7.78% and a return on equity of 30.07%. The firm earned $901 million during the quarter, compared to analysts’ expectations of $901.99 million. During the same quarter in the prior year, the business earned $1.51 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Carter’s Inc. will post $5.04 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Monday, November 21st will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from Carter’s’s previous quarterly dividend of $0.22. Carter’s’s dividend payout ratio (DPR) is currently 27.85%.
Several brokerages have recently weighed in on CRI. FBR & Co reissued a “buy” rating and set a $111.00 price target on shares of Carter’s in a research report on Friday, September 16th. Monness Crespi & Hardt raised shares of Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Monday, August 8th. Oppenheimer Holdings Inc. set a $115.00 price target on shares of Carter’s and gave the company a “buy” rating in a research report on Thursday, October 27th. Zacks Investment Research raised shares of Carter’s from a “sell” rating to a “hold” rating in a research report on Thursday, October 13th. Finally, Wells Fargo & Co. cut shares of Carter’s from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $111.00 to $93.00 in a research report on Tuesday, September 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $108.70.
In other news, Chairman Michael Dennis Casey sold 20,700 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $93.20, for a total value of $1,929,240.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is owned by insiders.
Carter’s Company Profile
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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