Carter’s (NYSE:CRI) Price Target Cut to $54.00 by Analysts at Bank of America

Carter’s (NYSE:CRI) had its target price trimmed by Bank of America from $65.00 to $54.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an underperform rating on the textile maker’s stock.

A number of other research firms have also recently commented on CRI. Wells Fargo & Company cut their price target on shares of Carter’s from $75.00 to $68.00 and set an equal weight rating for the company in a research note on Wednesday, April 24th. StockNews.com cut Carter’s from a buy rating to a hold rating in a report on Wednesday, April 10th. Finally, Citigroup decreased their price objective on Carter’s from $66.00 to $64.00 and set a sell rating on the stock in a report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, Carter’s has an average rating of Hold and an average target price of $70.50.

Carter’s Price Performance

Carter’s stock opened at $58.40 on Monday. The business has a 50-day simple moving average of $63.35 and a 200 day simple moving average of $72.13. Carter’s has a 52 week low of $54.74 and a 52 week high of $88.03. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 3.89 and a beta of 1.22. The company has a quick ratio of 0.95, a current ratio of 2.09 and a debt-to-equity ratio of 0.61.

Carter’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 28th were issued a dividend of $0.80 per share. The ex-dividend date was Friday, May 24th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.48%. Carter’s’s dividend payout ratio is currently 50.47%.

Institutional Trading of Carter’s

Large investors have recently modified their holdings of the business. Gladius Capital Management LP bought a new position in shares of Carter’s during the second quarter valued at approximately $30,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Carter’s during the 4th quarter valued at about $37,000. CWM LLC boosted its stake in shares of Carter’s by 431.3% during the 2nd quarter. CWM LLC now owns 595 shares of the textile maker’s stock valued at $37,000 after purchasing an additional 483 shares in the last quarter. Blue Trust Inc. increased its position in shares of Carter’s by 28.6% during the fourth quarter. Blue Trust Inc. now owns 630 shares of the textile maker’s stock valued at $44,000 after buying an additional 140 shares during the period. Finally, Parallel Advisors LLC raised its stake in Carter’s by 457.2% in the fourth quarter. Parallel Advisors LLC now owns 808 shares of the textile maker’s stock worth $61,000 after buying an additional 663 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.