Carter’s Target of Unusually Large Options Trading (NYSE:CRI)

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Carter’s, Inc. (NYSE:CRI) was the target of unusually large options trading on Thursday. Stock traders acquired 3,180 put options on the stock. This is an increase of 1,697% compared to the typical volume of 177 put options.

Shares of NYSE:CRI traded down $3.47 during midday trading on Friday, hitting $93.51. 611,554 shares of the stock were exchanged, compared to its average volume of 1,238,923. The company has a current ratio of 3.67, a quick ratio of 1.49 and a debt-to-equity ratio of 0.98. Carter’s has a 52-week low of $88.98 and a 52-week high of $129.00. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 1.96 and a beta of 0.57.

Carter’s (NYSE:CRI) last announced its quarterly earnings data on Thursday, October 25th. The textile maker reported $1.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.12). Carter’s had a return on equity of 33.05% and a net margin of 8.44%. The firm had revenue of $923.91 million for the quarter, compared to analysts’ expectations of $940.87 million. On average, sell-side analysts forecast that Carter’s will post 6.04 EPS for the current year.

A number of analysts have recently issued reports on CRI shares. ValuEngine upgraded Carter’s from a “hold” rating to a “buy” rating in a report on Saturday, July 14th. Cowen restated a “hold” rating and issued a $104.00 target price on shares of Carter’s in a report on Friday, July 27th. Zacks Investment Research upgraded Carter’s from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Wells Fargo & Co reduced their target price on Carter’s from $126.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, October 22nd. Finally, Monness Crespi & Hardt reduced their target price on Carter’s from $130.00 to $120.00 and set a “buy” rating for the company in a report on Friday, October 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Carter’s has an average rating of “Hold” and an average price target of $113.30.

In other news, Chairman Michael Dennis Casey sold 25,000 shares of the firm’s stock in a transaction on Monday, October 29th. The stock was sold at an average price of $97.76, for a total transaction of $2,444,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jill Wilson sold 2,835 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $96.27, for a total value of $272,925.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,835 shares of company stock valued at $5,643,925. Corporate insiders own 3.30% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Fort L.P. purchased a new stake in shares of Carter’s during the second quarter worth $119,000. SRS Capital Advisors Inc. purchased a new stake in shares of Carter’s during the third quarter worth $108,000. First Hawaiian Bank purchased a new stake in shares of Carter’s during the third quarter worth $122,000. FNY Investment Advisers LLC purchased a new stake in shares of Carter’s during the third quarter worth $163,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Carter’s during the second quarter worth $195,000. Institutional investors and hedge funds own 94.81% of the company’s stock.

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About Carter’s

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, Child of Mine, Just One You, Precious Firsts, Simple Joys, OshKosh, Skip Hop, and other brands. The company operates through three segments: U.S. Retail, U.S. Wholesale, and International.

Further Reading: Insider Trading – What You Need to Know

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