Principal Financial Group Inc. Acquires 89,058 Shares of Carter’s, Inc. $CRI

Principal Financial Group Inc. lifted its stake in Carter’s, Inc. (NYSE:CRI) by 49.3% during the 3rd quarter, Holdings Channel reports. The firm owned 269,687 shares of the textile maker’s stock after acquiring an additional 89,058 shares during the period. Principal Financial Group Inc.’s holdings in Carter’s were worth $7,611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. RWWM Inc. lifted its stake in Carter’s by 86.1% in the second quarter. RWWM Inc. now owns 4,075,791 shares of the textile maker’s stock valued at $122,804,000 after buying an additional 1,885,309 shares during the period. AQR Capital Management LLC raised its position in shares of Carter’s by 113.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,564,457 shares of the textile maker’s stock valued at $77,267,000 after acquiring an additional 1,364,698 shares during the period. Quantinno Capital Management LP raised its position in shares of Carter’s by 1,679.7% in the 2nd quarter. Quantinno Capital Management LP now owns 370,791 shares of the textile maker’s stock valued at $11,172,000 after acquiring an additional 349,957 shares during the period. Geode Capital Management LLC boosted its stake in Carter’s by 45.1% during the 2nd quarter. Geode Capital Management LLC now owns 856,237 shares of the textile maker’s stock worth $25,802,000 after acquiring an additional 266,336 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in Carter’s by 32.4% during the second quarter. Allianz Asset Management GmbH now owns 836,495 shares of the textile maker’s stock valued at $25,204,000 after purchasing an additional 204,938 shares during the period.

Carter’s Stock Performance

Shares of Carter’s stock opened at $40.15 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.26 and a quick ratio of 0.95. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 16.25 and a beta of 1.06. The stock’s 50-day moving average is $34.66 and its 200-day moving average is $31.15. Carter’s, Inc. has a one year low of $23.38 and a one year high of $54.58.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CRI shares. Barclays increased their target price on shares of Carter’s from $23.00 to $26.00 and gave the stock an “underweight” rating in a report on Tuesday, October 28th. Citigroup upgraded Carter’s from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $50.00 in a report on Wednesday, January 21st. Weiss Ratings restated a “sell (d+)” rating on shares of Carter’s in a report on Friday, January 9th. Wall Street Zen raised Carter’s from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. Finally, UBS Group boosted their price objective on Carter’s from $26.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $32.60.

Carter’s Profile

Carter’s, Inc (NYSE: CRI) is a leading designer and marketer of infant and young children’s apparel in North America. Headquartered in Atlanta, Georgia, the company’s core business focuses on creating clothing and accessories for babies and children, including bodysuits, sleepwear, layette, outerwear and accessories that blend comfort, safety and style. Carter’s flagship brand is complemented by its OshKosh B’gosh line, which offers heritage-inspired designs and durable fabrics for toddlers and young kids.

The company distributes its products through a diversified platform that includes wholesale partnerships with major department stores and mass merchandisers, direct‐to‐consumer e-commerce sites, and an extensive network of company-operated retail stores.