State Board of Administration of Florida Retirement System lessened its stake in Carter’s, Inc. (NYSE:CRI) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,638 shares of the textile maker’s stock after selling 830 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.12% of Carter’s worth $5,534,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Carter’s by 0.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,696 shares of the textile maker’s stock worth $1,307,000 after acquiring an additional 120 shares in the last quarter. Eaton Vance Management grew its holdings in shares of Carter’s by 2.7% during the first quarter. Eaton Vance Management now owns 5,303 shares of the textile maker’s stock worth $472,000 after buying an additional 139 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Carter’s by 2.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,554 shares of the textile maker’s stock worth $779,000 after buying an additional 156 shares in the last quarter. Crawford Investment Counsel Inc. grew its holdings in shares of Carter’s by 0.5% during the first quarter. Crawford Investment Counsel Inc. now owns 40,074 shares of the textile maker’s stock worth $3,564,000 after buying an additional 200 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Carter’s by 2.5% during the first quarter. Thrivent Financial for Lutherans now owns 11,711 shares of the textile maker’s stock worth $1,041,000 after buying an additional 283 shares in the last quarter.
In related news, EVP Kendra Krugman sold 2,800 shares of the company’s stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $102.91, for a total value of $288,148.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.50% of the company’s stock.
Carter’s (NYSE:CRI) last announced its quarterly earnings data on Thursday, July 29th. The textile maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.95. Carter’s had a net margin of 9.95% and a return on equity of 36.47%. The firm had revenue of $746.40 million during the quarter, compared to analyst estimates of $713.84 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Carter’s’s quarterly revenue was up 45.0% on a year-over-year basis. Equities research analysts predict that Carter’s, Inc. will post 7.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Investors of record on Tuesday, August 31st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Monday, August 30th. Carter’s’s dividend payout ratio is currently 38.46%.
Separately, Zacks Investment Research raised shares of Carter’s from a “hold” rating to a “strong-buy” rating and set a $118.00 target price for the company in a report on Monday, June 21st. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Carter’s has an average rating of “Buy” and an average price target of $115.80.
Carter’s Company Profile
Carter’s, Inc engages in the marketing of apparel for babies and young children. It operates through the following segments: U.S. Retail; U.S. Wholesale; and International. The U.S. retail segment consists of sales of products in retail and online stores. The U.S. Wholesale segment includes sales in the United States of products to wholesale partners.
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