Carter’s, Inc. (CRI) Position Increased by Pax World Management LLC
Pax World Management LLC raised its position in shares of Carter’s, Inc. (NYSE:CRI) by 10.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 273,271 shares of the textile maker’s stock after buying an additional 24,903 shares during the period. Carter’s accounts for 1.4% of Pax World Management LLC’s portfolio, making the stock its 14th largest position. Pax World Management LLC owned approximately 0.57% of Carter’s worth $24,307,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its position in shares of Carter’s by 10,013.9% in the first quarter. BlackRock Inc. now owns 4,038,573 shares of the textile maker’s stock worth $362,664,000 after buying an additional 3,998,642 shares during the period. Vanguard Group Inc. raised its position in shares of Carter’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 3,653,088 shares of the textile maker’s stock worth $328,048,000 after buying an additional 99,586 shares during the period. Valinor Management L.P. raised its position in shares of Carter’s by 1.1% in the first quarter. Valinor Management L.P. now owns 1,414,121 shares of the textile maker’s stock worth $126,988,000 after buying an additional 15,200 shares during the period. SRS Investment Management LLC raised its position in shares of Carter’s by 28.3% in the first quarter. SRS Investment Management LLC now owns 1,376,173 shares of the textile maker’s stock worth $123,580,000 after buying an additional 303,696 shares during the period. Finally, State Street Corp raised its position in shares of Carter’s by 1.3% in the first quarter. State Street Corp now owns 1,299,438 shares of the textile maker’s stock worth $116,700,000 after buying an additional 16,250 shares during the period. Hedge funds and other institutional investors own 99.88% of the company’s stock.
Carter’s, Inc. (NYSE CRI) opened at 84.28 on Monday. The firm has a 50-day moving average price of $87.53 and a 200-day moving average price of $87.39. Carter’s, Inc. has a one year low of $77.94 and a one year high of $100.60. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 16.53 and a beta of 0.32.
Carter’s (NYSE:CRI) last issued its quarterly earnings data on Thursday, July 27th. The textile maker reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.09. Carter’s had a return on equity of 33.18% and a net margin of 7.74%. The business had revenue of $692.10 million for the quarter, compared to the consensus estimate of $681.08 million. During the same period in the prior year, the business earned $0.72 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts predict that Carter’s, Inc. will post $5.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 29th will be given a $0.37 dividend. The ex-dividend date is Friday, August 25th. This represents a $1.48 annualized dividend and a dividend yield of 1.76%. Carter’s’s dividend payout ratio is currently 29.08%.
CRI has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Carter’s from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. BidaskClub upgraded Carter’s from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Carter’s in a report on Wednesday, June 21st. Stifel Nicolaus raised their price objective on Carter’s from $80.00 to $84.00 and gave the company a “hold” rating in a report on Thursday, April 27th. Finally, FBR & Co set a $111.00 price objective on Carter’s and gave the company a “buy” rating in a report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Carter’s has a consensus rating of “Hold” and an average price target of $100.40.
In related news, Director David Pulver acquired 1,000 shares of Carter’s stock in a transaction dated Wednesday, May 24th. The shares were acquired at an average cost of $80.10 per share, for a total transaction of $80,100.00. Following the completion of the transaction, the director now directly owns 54,331 shares of the company’s stock, valued at $4,351,913.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas E. Whiddon sold 17,500 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $90.35, for a total value of $1,581,125.00. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate 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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