Principal Financial Group Inc. Sells 37,899 Shares of Carter’s, Inc. (NYSE:CRI)

Principal Financial Group Inc. lessened its holdings in Carter’s, Inc. (NYSE:CRI) by 31.2% during the third quarter, HoldingsChannel reports. The fund owned 83,652 shares of the textile maker’s stock after selling 37,899 shares during the quarter. Principal Financial Group Inc.’s holdings in Carter’s were worth $5,436,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CRI. GAMMA Investing LLC increased its holdings in Carter’s by 112.0% during the 3rd quarter. GAMMA Investing LLC now owns 405 shares of the textile maker’s stock worth $26,000 after purchasing an additional 214 shares in the last quarter. Gladius Capital Management LP purchased a new position in shares of Carter’s during the second quarter valued at approximately $30,000. CWM LLC grew its holdings in Carter’s by 431.3% during the second quarter. CWM LLC now owns 595 shares of the textile maker’s stock worth $37,000 after buying an additional 483 shares in the last quarter. Abich Financial Wealth Management LLC raised its position in Carter’s by 67.6% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 858 shares of the textile maker’s stock valued at $53,000 after buying an additional 346 shares during the last quarter. Finally, LRI Investments LLC bought a new position in Carter’s during the 1st quarter valued at $77,000.

Wall Street Analyst Weigh In

CRI has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Carter’s from $72.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Bank of America decreased 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 note on Monday, July 29th. Finally, Citigroup upgraded Carter’s from a “sell” rating to a “neutral” rating and set a $50.00 target price on the stock in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, Carter’s currently has a consensus rating of “Hold” and an average target price of $67.67.

Carter’s Stock Down 2.0 %

CRI opened at $50.95 on Thursday. Carter’s, Inc. has a twelve month low of $50.27 and a twelve month high of $88.03. The company’s 50-day moving average price is $61.27 and its two-hundred day moving average price is $63.50. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 3.24 and a beta of 1.24. The company has a quick ratio of 0.96, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

Carter’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 25th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date is Monday, November 25th. Carter’s’s dividend payout ratio is currently 50.79%.

Carter’s Company Profile

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.