Carter’s (NYSE:CRI) Given New $68.00 Price Target at Wells Fargo & Company

Carter’s (NYSE:CRI) had its price target cut by Wells Fargo & Company from $75.00 to $68.00 in a report issued on Wednesday, Benzinga reports. They currently have an equal weight rating on the textile maker’s stock.

Several other equities analysts have also recently weighed in on CRI. Citigroup dropped their price target on shares of Carter’s from $66.00 to $64.00 and set a sell rating on the stock in a research report on Thursday, April 18th. UBS Group raised their price objective on Carter’s from $76.00 to $79.00 and gave the company a neutral rating in a research note on Wednesday, February 28th. Evercore ISI upped their target price on shares of Carter’s from $70.00 to $80.00 and gave the stock an in-line rating in a research note on Wednesday, February 28th. StockNews.com cut Carter’s from a buy rating to a hold rating in a research note on Wednesday, April 10th. Finally, Wedbush raised their price objective on shares of Carter’s from $67.00 to $78.00 and gave the stock a neutral rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $73.80.

Carter’s Trading Down 1.7 %

NYSE:CRI opened at $72.64 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.15 and a quick ratio of 1.10. The business’s 50-day simple moving average is $80.15 and its 200-day simple moving average is $74.76. Carter’s has a fifty-two week low of $60.65 and a fifty-two week high of $88.03. The stock has a market capitalization of $2.66 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 2.15 and a beta of 1.29.

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

Carter’s Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were paid a $0.80 dividend. The ex-dividend date was Friday, March 8th. This represents a $3.20 annualized dividend and a yield of 4.41%. This is a positive change from Carter’s’s previous quarterly dividend of $0.75. Carter’s’s dividend payout ratio is currently 51.04%.

Insider Buying and Selling

In other Carter’s news, Director Mark Hipp sold 1,875 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $81.74, for a total value of $153,262.50. Following the completion of the sale, the director now owns 10,216 shares in the company, valued at $835,055.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP bought a new position in shares of Carter’s during the first quarter valued at approximately $45,011,000. Norges Bank bought a new position in Carter’s in the 4th quarter worth $31,193,000. Cooper Creek Partners Management LLC purchased a new stake in shares of Carter’s in the 3rd quarter worth about $28,588,000. Pacer Advisors Inc. lifted its position in shares of Carter’s by 59.3% in the 4th quarter. Pacer Advisors Inc. now owns 632,671 shares of the textile maker’s stock worth $47,381,000 after purchasing an additional 235,431 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Carter’s by 270.4% during the 3rd quarter. American Century Companies Inc. now owns 309,049 shares of the textile maker’s stock valued at $21,371,000 after purchasing an additional 225,614 shares in the last quarter.

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.