Carter’s (NYSE:CRI) PT Lowered to $68.00 at Wells Fargo & Company

Carter’s (NYSE:CRI) had its target price lowered by Wells Fargo & Company from $75.00 to $68.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the textile maker’s stock.

CRI has been the topic of several other reports. Monness Crespi & Hardt downgraded Carter’s from a buy rating to a neutral rating in a research report on Monday, February 26th. StockNews.com downgraded Carter’s from a buy rating to a hold rating in a research report on Wednesday, April 10th. Wedbush increased their price target on Carter’s from $67.00 to $78.00 and gave the stock a neutral rating in a research report on Friday, February 23rd. Citigroup cut their price target on Carter’s from $66.00 to $64.00 and set a sell rating on the stock in a research report on Thursday, April 18th. Finally, Evercore ISI increased their price target on Carter’s from $70.00 to $80.00 and gave the stock an in-line rating in a research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $73.80.

Carter’s Stock Performance

Shares of CRI opened at $70.01 on Wednesday. Carter’s has a 12 month low of $60.65 and a 12 month high of $88.03. The stock has a fifty day moving average price of $79.73 and a 200-day moving average price of $74.77. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.59. The firm has a market cap of $2.57 billion, a PE ratio of 11.17, a P/E/G ratio of 2.09 and a beta of 1.29.

Carter’s (NYSE:CRI) last issued its earnings results on Tuesday, February 27th. The textile maker reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.24. The company had revenue of $858.00 million during the quarter, compared to analyst estimates of $867.81 million. Carter’s had a return on equity of 28.79% and a net margin of 7.89%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the business posted $2.29 EPS. Equities research analysts predict that Carter’s will post 6.52 earnings per share for the current fiscal year.

Carter’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were paid a $0.80 dividend. The ex-dividend date was Friday, March 8th. This is a positive change from Carter’s’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 4.57%. Carter’s’s dividend payout ratio (DPR) is currently 51.04%.

Insider Activity at Carter’s

In related news, Director Mark Hipp sold 1,875 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $81.74, for a total value of $153,262.50. Following the transaction, the director now directly owns 10,216 shares of the company’s stock, valued at approximately $835,055.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CRI. Ronald Blue Trust Inc. lifted its stake in Carter’s by 366.7% in the 3rd quarter. Ronald Blue Trust Inc. now owns 490 shares of the textile maker’s stock worth $36,000 after purchasing an additional 385 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of Carter’s during the 3rd quarter valued at approximately $259,000. Xponance Inc. raised its position in shares of Carter’s by 7.7% during the 3rd quarter. Xponance Inc. now owns 4,930 shares of the textile maker’s stock valued at $341,000 after buying an additional 354 shares during the period. Raymond James & Associates raised its position in shares of Carter’s by 0.6% during the 3rd quarter. Raymond James & Associates now owns 52,858 shares of the textile maker’s stock valued at $3,655,000 after buying an additional 294 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Carter’s by 5.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,713,889 shares of the textile maker’s stock valued at $118,515,000 after buying an additional 90,094 shares during the period.

About Carter’s

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.