Reinhart Partners LLC. Buys 62,749 Shares of Carter’s, Inc. (NYSE:CRI)

Reinhart Partners LLC. grew its stake in Carter’s, Inc. (NYSE:CRI) by 13.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 523,939 shares of the textile maker’s stock after buying an additional 62,749 shares during the period. Reinhart Partners LLC. owned approximately 1.44% of Carter’s worth $34,046,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CRI. CWM LLC grew its position in Carter’s by 1,158.5% in the third quarter. CWM LLC now owns 7,488 shares of the textile maker’s stock worth $487,000 after acquiring an additional 6,893 shares in the last quarter. GAMMA Investing LLC lifted its stake in Carter’s by 112.0% during the third quarter. GAMMA Investing LLC now owns 405 shares of the textile maker’s stock worth $26,000 after purchasing an additional 214 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Carter’s by 91.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 11,530 shares of the textile maker’s stock worth $749,000 after purchasing an additional 5,500 shares in the last quarter. Paragon Capital Management Inc. increased its position in shares of Carter’s by 5.2% during the 2nd quarter. Paragon Capital Management Inc. now owns 23,714 shares of the textile maker’s stock valued at $1,470,000 after purchasing an additional 1,182 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Carter’s during the 2nd quarter valued at about $231,000.

Wall Street Analysts Forecast Growth

Several research firms have commented on CRI. Wells Fargo & Company lifted their price target on shares of Carter’s from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Monday, September 9th. Bank of America lowered their price target on shares of Carter’s from $65.00 to $54.00 and set an “underperform” rating for the company in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $71.17.

Carter’s Stock Performance

Carter’s stock opened at $61.84 on Friday. The firm has a 50-day moving average of $65.56 and a 200-day moving average of $66.96. The firm has a market cap of $2.23 billion, a P/E ratio of 9.57, a P/E/G ratio of 3.86 and a beta of 1.23. The company has a current ratio of 2.09, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. Carter’s, Inc. has a 1-year low of $54.74 and a 1-year high of $88.03.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Friday, July 26th. The textile maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.31. The business had revenue of $564.43 million for the quarter, compared to analysts’ expectations of $566.79 million. Carter’s had a net margin of 8.29% and a return on equity of 28.65%. Sell-side analysts expect that Carter’s, Inc. will post 4.87 EPS for the current year.

Carter’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, August 27th. This represents a $3.20 annualized dividend and a yield of 5.17%. Carter’s’s payout ratio is 49.54%.

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.