Carter’s (NYSE:CRI) Given New $65.00 Price Target at Wells Fargo & Company

Carter’s (NYSE:CRI) had its price target cut by Wells Fargo & Company from $72.00 to $65.00 in a research report report published on Monday morning, Benzinga reports. They currently have an equal weight rating on the textile maker’s stock.

Separately, Bank of America lowered their price objective on shares of Carter’s from $65.00 to $54.00 and set an “underperform” rating for the company in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $70.00.

Carter’s Price Performance

Shares of NYSE:CRI opened at $56.38 on Monday. 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 has a fifty-two week low of $54.74 and a fifty-two week high of $88.03. The firm has a 50-day simple moving average of $66.02 and a 200 day simple moving average of $65.61. The company has a market cap of $2.06 billion, a PE ratio of 8.89, a P/E/G ratio of 3.86 and a beta of 1.23.

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

Carter’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 5.68%. The ex-dividend date of this dividend was Tuesday, August 27th. Carter’s’s dividend payout ratio (DPR) is 50.47%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CRI. Wasatch Advisors LP bought a new position in Carter’s in the 1st quarter worth about $45,011,000. RWWM Inc. acquired a new stake in shares of Carter’s in the 2nd quarter worth approximately $23,675,000. Pacer Advisors Inc. lifted its stake in shares of Carter’s by 44.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,209,097 shares of the textile maker’s stock worth $74,928,000 after acquiring an additional 371,681 shares during the period. AQR Capital Management LLC lifted its stake in shares of Carter’s by 50.7% in the 2nd quarter. AQR Capital Management LLC now owns 555,568 shares of the textile maker’s stock worth $34,212,000 after acquiring an additional 186,894 shares during the period. Finally, Reinhart Partners LLC. lifted its stake in shares of Carter’s by 67.3% in the 2nd quarter. Reinhart Partners LLC. now owns 461,190 shares of the textile maker’s stock worth $28,580,000 after acquiring an additional 185,458 shares during the period.

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.