Carter’s, Inc. (NYSE:CRI) is RWWM Inc.’s 7th Largest Position

RWWM Inc. raised its stake in shares of Carter’s, Inc. (NYSE:CRI) by 145.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,190,482 shares of the textile maker’s stock after buying an additional 1,297,607 shares during the quarter. Carter’s makes up about 7.2% of RWWM Inc.’s holdings, making the stock its 7th largest holding. RWWM Inc. owned about 0.06% of Carter’s worth $89,591,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Venturi Wealth Management LLC raised its stake in Carter’s by 36.9% during the 4th quarter. Venturi Wealth Management LLC now owns 994 shares of the textile maker’s stock valued at $54,000 after buying an additional 268 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Carter’s by 114.4% during the 4th quarter. Jones Financial Companies Lllp now owns 506 shares of the textile maker’s stock valued at $27,000 after buying an additional 270 shares during the last quarter. M&T Bank Corp raised its stake in Carter’s by 7.2% during the 4th quarter. M&T Bank Corp now owns 4,073 shares of the textile maker’s stock valued at $221,000 after buying an additional 272 shares during the last quarter. Hsbc Holdings PLC raised its stake in Carter’s by 7.1% during the 4th quarter. Hsbc Holdings PLC now owns 5,217 shares of the textile maker’s stock valued at $279,000 after buying an additional 347 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its stake in Carter’s by 1.7% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 26,147 shares of the textile maker’s stock valued at $1,417,000 after buying an additional 448 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CRI. Barclays started coverage on shares of Carter’s in a research note on Monday, April 28th. They set an “underweight” rating and a $25.00 target price for the company. UBS Group reduced their price objective on Carter’s from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Citigroup reduced their price objective on Carter’s from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company upped their price objective on Carter’s from $25.00 to $28.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, Carter’s presently has an average rating of “Reduce” and a consensus target price of $36.80.

Carter’s Trading Down 2.4%

Shares of Carter’s stock opened at $31.15 on Friday. The company has a market capitalization of $1.14 billion, a P/E ratio of 4.94, a P/E/G ratio of 3.37 and a beta of 1.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.96 and a current ratio of 2.21. The company has a fifty day moving average of $34.21 and a 200 day moving average of $44.16. Carter’s, Inc. has a fifty-two week low of $29.62 and a fifty-two week high of $71.99.

Carter’s (NYSE:CRI) last issued its earnings results on Friday, April 25th. The textile maker reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.13. The company had revenue of $291.09 million during the quarter, compared to the consensus estimate of $624.86 million. Carter’s had a net margin of 8.11% and a return on equity of 27.15%. Carter’s’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. On average, sell-side analysts anticipate that Carter’s, Inc. will post 5.15 earnings per share for the current fiscal year.

Carter’s Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a yield of 3.19%. This is an increase from Carter’s’s previous dividend of $0.22. Carter’s’s dividend payout ratio is currently 22.12%.

About Carter’s

Carter’s, Inc engages in the business of brand marketing of young children’s apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.