Citi Trends (NASDAQ:CTRN) Trading Up 13% Following Dividend Announcement

Citi Trends, Inc. (NASDAQ:CTRN) shares were up 13% on Thursday following a dividend announcement from the company. The stock traded as high as $17.42 and last traded at $16.94, approximately 190,329 shares changed hands during trading. An increase of 119% from the average daily volume of 87,103 shares. The stock had previously closed at $14.99.

The newly announced dividend which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, August 30th. Citi Trends’s dividend payout ratio (DPR) is currently 19.51%.

Separately, TheStreet cut shares of Citi Trends from a “b-” rating to a “c+” rating in a research report on Thursday, May 23rd.

The company has a market cap of $181.12 million, a PE ratio of 9.75 and a beta of 0.64. The business’s 50-day moving average is $15.26 and its 200 day moving average is $17.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.67 and a current ratio of 1.68.

Citi Trends (NASDAQ:CTRN) last issued its earnings results on Thursday, August 22nd. The company reported $0.03 EPS for the quarter. The company had revenue of $182.83 million for the quarter. Citi Trends had a net margin of 2.34% and a return on equity of 9.68%. Equities research analysts anticipate that Citi Trends, Inc. will post 1.4 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan raised its position in Citi Trends by 49.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 29,150 shares of the company’s stock worth $426,000 after purchasing an additional 9,660 shares during the period. LSV Asset Management raised its position in Citi Trends by 4.0% in the 1st quarter. LSV Asset Management now owns 213,300 shares of the company’s stock worth $4,118,000 after purchasing an additional 8,300 shares during the period. Marshall Wace LLP purchased a new position in Citi Trends in the 1st quarter worth $920,000. Martingale Asset Management L P raised its position in Citi Trends by 163.1% in the 1st quarter. Martingale Asset Management L P now owns 76,306 shares of the company’s stock worth $1,474,000 after purchasing an additional 47,300 shares during the period. Finally, Skylands Capital LLC purchased a new position in Citi Trends in the 1st quarter worth $213,000. Institutional investors own 89.22% of the company’s stock.

Citi Trends Company Profile (NASDAQ:CTRN)

Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, such as fashion sportswear for men and women, as well as children, including newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional bedroom, bathroom, and kitchen products, as well as beauty products and toys.

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