Wells Fargo & Company Has Lowered Expectations for Carter’s (NYSE:CRI) Stock Price

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

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

Carter’s Trading Down 1.7 %

CRI opened at $54.68 on Monday. Carter’s has a 12-month low of $53.53 and a 12-month high of $88.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.09 and a quick ratio of 0.95. The stock has a market capitalization of $2.00 billion, a PE ratio of 8.62, a P/E/G ratio of 3.86 and a beta of 1.23. The firm’s fifty day moving average price is $65.43 and its 200 day moving average price is $65.34.

Carter’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were given a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.85%. Carter’s’s payout ratio is currently 50.47%.

Institutional Investors Weigh In On Carter’s

A number of institutional investors have recently modified their holdings of CRI. Wasatch Advisors LP bought a new position in Carter’s in the first quarter worth about $45,011,000. RWWM Inc. bought a new stake in shares of Carter’s in the 2nd quarter worth approximately $23,675,000. Pacer Advisors Inc. boosted its position in Carter’s by 44.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,209,097 shares of the textile maker’s stock valued at $74,928,000 after purchasing an additional 371,681 shares during the period. AQR Capital Management LLC grew its stake in Carter’s by 50.7% during the 2nd quarter. AQR Capital Management LLC now owns 555,568 shares of the textile maker’s stock worth $34,212,000 after buying an additional 186,894 shares during the last quarter. Finally, Reinhart Partners LLC. increased its position in Carter’s by 67.3% in the second quarter. Reinhart Partners LLC. now owns 461,190 shares of the textile maker’s stock worth $28,580,000 after buying an additional 185,458 shares during the period.

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.