Carter’s (NYSE:CRI) Given New $48.00 Price Target at Wells Fargo & Company

Carter’s (NYSE:CRI) had its price objective decreased by Wells Fargo & Company from $65.00 to $48.00 in a report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the textile maker’s stock.

Separately, Citigroup upgraded shares of Carter’s from a “sell” rating to a “neutral” rating and set a $50.00 price objective on the stock in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, Carter’s has a consensus rating of “Hold” and an average target price of $55.20.

Carter’s Price Performance

Shares of NYSE CRI opened at $42.25 on Wednesday. The company has a fifty day moving average price of $52.84 and a 200 day moving average price of $58.26. Carter’s has a 1-year low of $41.94 and a 1-year high of $88.03. The firm has a market cap of $1.52 billion, a PE ratio of 6.71, a PEG ratio of 3.37 and a beta of 1.21. The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60.

Carter’s (NYSE:CRI) last posted its quarterly earnings data on Tuesday, February 25th. The textile maker reported $2.39 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.52. Carter’s had a return on equity of 27.15% and a net margin of 8.11%. The company had revenue of $859.70 million during the quarter, compared to analysts’ expectations of $835.82 million. During the same period in the prior year, the firm earned $2.76 earnings per share. Carter’s’s revenue for the quarter was up .2% compared to the same quarter last year. Research analysts predict that Carter’s will post 5.15 earnings per share for the current fiscal year.

Carter’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $3.20 annualized dividend and a yield of 7.57%. Carter’s’s dividend payout ratio (DPR) is presently 50.79%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in shares of Carter’s in the third quarter valued at $28,000. Jones Financial Companies Lllp lifted its stake in Carter’s by 114.4% in the fourth quarter. Jones Financial Companies Lllp now owns 506 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 270 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Carter’s by 2,112.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 531 shares of the textile maker’s stock valued at $29,000 after acquiring an additional 507 shares during the period. Colonial Trust Co SC bought a new position in shares of Carter’s in the 4th quarter valued at about $29,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Carter’s by 221.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 726 shares of the textile maker’s stock worth $47,000 after purchasing an additional 500 shares during the last quarter.

Carter’s Company Profile

Carter’s, Inc engages in the business of brand marketing of young children’s apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.