Sound Income Strategies LLC Boosts Stake in Carter’s, Inc. (NYSE:CRI)

Sound Income Strategies LLC raised its holdings in shares of Carter’s, Inc. (NYSE:CRI) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,494 shares of the textile maker’s stock after buying an additional 8,189 shares during the period. Sound Income Strategies LLC’s holdings in Carter’s were worth $11,404,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its holdings in Carter’s by 173.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 17,196 shares of the textile maker’s stock valued at $1,456,000 after acquiring an additional 10,897 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Carter’s by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 42,736 shares of the textile maker’s stock worth $3,619,000 after purchasing an additional 11,265 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Carter’s by 86.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 20,019 shares of the textile maker’s stock valued at $1,714,000 after purchasing an additional 9,295 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Carter’s by 2,145.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 34,580 shares of the textile maker’s stock worth $2,928,000 after purchasing an additional 33,040 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Carter’s in the 1st quarter worth about $1,450,000.

Analyst Ratings Changes

A number of equities analysts have commented on CRI shares. Wells Fargo & Company upped their target price on shares of Carter’s from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Monday, September 9th. Bank of America dropped their price objective on Carter’s from $65.00 to $54.00 and set an “underperform” rating on the stock in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $71.17.

Carter’s Stock Up 1.9 %

CRI stock traded up $1.15 during trading on Friday, hitting $61.83. 796,989 shares of the company’s stock traded hands, compared to its average volume of 910,904. The business has a fifty day simple moving average of $65.56 and a two-hundred day simple moving average of $66.86. The company has a quick ratio of 0.95, a current ratio of 2.09 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $2.26 billion, a P/E ratio of 9.75, a PEG ratio of 3.86 and a beta of 1.23. Carter’s, Inc. has a 1 year low of $54.74 and a 1 year high of $88.03.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Friday, July 26th. The textile maker reported $0.76 EPS for the quarter, topping the consensus estimate of $0.45 by $0.31. Carter’s had a return on equity of 28.65% and a net margin of 8.29%. The firm had revenue of $564.43 million during the quarter, compared to analyst estimates of $566.79 million. Sell-side analysts anticipate that Carter’s, Inc. will post 4.87 EPS for the current year.

Carter’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend was Tuesday, August 27th. Carter’s’s payout ratio is currently 50.47%.

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.