Carter’s (NYSE:CRI) Hits New 52-Week Low – What’s Next?

Shares of Carter’s, Inc. (NYSE:CRI) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $29.36 and last traded at $29.78, with a volume of 484091 shares. The stock had previously closed at $30.78.

Analyst Ratings Changes

A number of brokerages have issued reports on CRI. Wells Fargo & Company increased their price objective on shares of Carter’s from $25.00 to $28.00 and gave the company an “underweight” rating in a report on Wednesday, May 14th. Citigroup reduced their price target on shares of Carter’s from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. UBS Group dropped their price objective on shares of Carter’s from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Finally, Barclays assumed coverage on Carter’s in a research report on Monday, April 28th. They set an “underweight” rating and a $25.00 price objective for the company. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Carter’s currently has an average rating of “Reduce” and an average price target of $36.80.

Carter’s Price Performance

The stock has a 50 day moving average of $33.57 and a 200-day moving average of $43.19. The company has a current ratio of 2.56, a quick ratio of 1.40 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $1.10 billion, a P/E ratio of 6.71 and a beta of 1.00.

Carter’s (NYSE:CRI) last announced its quarterly earnings data on Friday, April 25th. The textile maker reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. The company had revenue of $291.09 million during the quarter, compared to analyst estimates of $624.86 million. Carter’s had a net margin of 5.80% and a return on equity of 23.50%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. On average, equities research analysts anticipate that Carter’s, Inc. will post 5.15 earnings per share for the current fiscal year.

Carter’s Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $0.25 per share. This represents a yield of 3.19%. This is a boost from Carter’s’s previous dividend of $0.22. The ex-dividend date of this dividend was Monday, June 2nd. Carter’s’s dividend payout ratio is presently 22.12%.

Institutional Trading of Carter’s

A number of hedge funds have recently bought and sold shares of the stock. Millennium Management LLC grew its holdings in Carter’s by 14,270.6% in the first quarter. Millennium Management LLC now owns 1,631,493 shares of the textile maker’s stock worth $66,728,000 after purchasing an additional 1,620,140 shares during the last quarter. RWWM Inc. grew its holdings in shares of Carter’s by 145.3% during the first quarter. RWWM Inc. now owns 2,190,482 shares of the textile maker’s stock valued at $89,591,000 after buying an additional 1,297,607 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Carter’s by 124.4% in the 4th quarter. AQR Capital Management LLC now owns 1,739,522 shares of the textile maker’s stock valued at $93,134,000 after acquiring an additional 964,494 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of Carter’s by 108.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,126,468 shares of the textile maker’s stock valued at $61,043,000 after purchasing an additional 584,850 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Carter’s by 33.3% in the fourth quarter. First Trust Advisors LP now owns 1,919,953 shares of the textile maker’s stock worth $104,042,000 after purchasing an additional 479,961 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.