Carter's, Inc. (CRI) Plans Quarterly Dividend of $0.37
Carter's, Inc. (NYSE:CRI) declared a quarterly dividend on Thursday, May 18th. Stockholders of record on Tuesday, May 30th will be given a dividend of 0.37 per share by the textile maker on Friday, June 16th. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, May 25th.
Carter's has raised its dividend payment by an average of 40.1% annually over the last three years and has increased its dividend every year for the last 3 years. Carter's has a dividend payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Carter's to earn $6.16 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 24.0%.
Carter's (NYSE:CRI) traded down 1.423% during trading on Friday, hitting $82.105. The stock had a trading volume of 139,342 shares. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 16.395 and a beta of 0.35. Carter's has a 52 week low of $77.94 and a 52 week high of $112.58. The company has a 50-day moving average of $90.14 and a 200 day moving average of $88.46.
Carter's (NYSE:CRI) last posted its earnings results on Thursday, April 27th. The textile maker reported $0.97 EPS for the quarter, beating the consensus estimate of $0.84 by $0.13. The firm had revenue of $732.80 million during the quarter, compared to the consensus estimate of $713.98 million. Carter's had a return on equity of 30.07% and a net margin of 7.78%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share. On average, equities research analysts anticipate that Carter's will post $5.62 EPS for the current year.
Several equities analysts have commented on CRI shares. Zacks Investment Research downgraded Carter's from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Piper Jaffray Companies upgraded Carter's from a “neutral” rating to an “overweight” rating and set a $100.00 target price for the company in a research report on Tuesday, February 14th. They noted that the move was a valuation call. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $105.00 target price on shares of Carter's in a research report on Wednesday, April 26th. Morgan Stanley started coverage on Carter's in a research note on Wednesday, January 25th. They set an “overweight” rating and a $103.00 target price for the company. Finally, Stifel Nicolaus raised their price objective on Carter's from $80.00 to $84.00 and gave the company a “hold” rating in a research note on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Carter's presently has a consensus rating of “Hold” and a consensus price target of $102.55.
In related news, CFO Richard F. Westenberger sold 3,150 shares of the business’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $93.13, for a total transaction of $293,359.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jill Wilson sold 4,288 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $92.10, for a total value of $394,924.80. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.
Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.
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