Deprince Race & Zollo Inc. Invests $2.03 Million in Carter’s, Inc. (CRI) Stock
Deprince Race & Zollo Inc. acquired a new position in shares of Carter’s, Inc. (NYSE:CRI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,570 shares of the textile maker’s stock, valued at approximately $2,031,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its stake in shares of Carter’s by 11.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 11,600 shares of the textile maker’s stock valued at $994,000 after purchasing an additional 1,200 shares during the period. Rhumbline Advisers increased its stake in shares of Carter’s by 12.5% in the third quarter. Rhumbline Advisers now owns 106,540 shares of the textile maker’s stock valued at $10,521,000 after purchasing an additional 11,836 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of Carter’s in the third quarter valued at approximately $366,000. FDx Advisors Inc. increased its stake in shares of Carter’s by 34.6% in the third quarter. FDx Advisors Inc. now owns 10,312 shares of the textile maker’s stock valued at $1,018,000 after purchasing an additional 2,653 shares during the period. Finally, Boston Partners increased its stake in shares of Carter’s by 70.6% in the third quarter. Boston Partners now owns 83,513 shares of the textile maker’s stock valued at $8,247,000 after purchasing an additional 34,556 shares during the period. Hedge funds and other institutional investors own 96.17% of the company’s stock.
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Several brokerages have commented on CRI. Citigroup Inc. raised their price target on shares of Carter’s from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of Carter’s from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Monday, October 30th. Cowen and Company set a $92.00 price target on shares of Carter’s and gave the company a “hold” rating in a research note on Monday, October 23rd. BidaskClub lowered shares of Carter’s from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, Goldman Sachs Group, Inc. (The) began coverage on shares of Carter’s in a report on Tuesday, September 5th. They issued a “buy” rating and a $105.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $105.27.
In related news, Chairman Michael Dennis Casey sold 26,524 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $101.25, for a total transaction of $2,685,555.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Fulton sold 8,643 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $87.58, for a total transaction of $756,953.94. The disclosure for this sale can be found here. Insiders have sold 72,103 shares of company stock valued at $7,120,587 over the last 90 days. 3.10% of the stock is currently owned by insiders.
Carter’s, Inc. (CRI) opened at $105.07 on Friday. The company has a quick ratio of 1.34, a current ratio of 3.20 and a debt-to-equity ratio of 0.89. The stock has a market cap of $4,972.23, a P/E ratio of 20.01, a PEG ratio of 2.05 and a beta of 0.33. Carter’s, Inc. has a 1-year low of $77.94 and a 1-year high of $106.67.
Carter’s (NYSE:CRI) last issued its earnings results on Thursday, October 26th. The textile maker reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.05. The firm had revenue of $948.23 million during the quarter, compared to analysts’ expectations of $950.64 million. Carter’s had a net margin of 7.69% and a return on equity of 33.38%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.61 earnings per share. analysts anticipate that Carter’s, Inc. will post 5.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 20th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, November 17th. Carter’s’s payout ratio is 28.46%.
Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.
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