Engineers Gate Manager LP Acquires New Stake in Carter’s, Inc. $CRI

Engineers Gate Manager LP acquired a new stake in Carter’s, Inc. (NYSE:CRI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 54,904 shares of the textile maker’s stock, valued at approximately $2,260,000.

Several other hedge funds have also recently bought and sold shares of CRI. Wellington Management Group LLP grew its position in Carter’s by 11.9% in the 2nd quarter. Wellington Management Group LLP now owns 645,863 shares of the textile maker’s stock valued at $26,584,000 after acquiring an additional 68,464 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Carter’s by 36.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,765,205 shares of the textile maker’s stock worth $63,121,000 after purchasing an additional 472,786 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Carter’s during the first quarter worth about $4,896,000. Squarepoint Ops LLC lifted its position in shares of Carter’s by 114.7% during the second quarter. Squarepoint Ops LLC now owns 97,709 shares of the textile maker’s stock worth $4,022,000 after purchasing an additional 52,193 shares in the last quarter. Finally, Rubric Capital Management LP boosted its stake in shares of Carter’s by 121.5% in the first quarter. Rubric Capital Management LP now owns 1,018,853 shares of the textile maker’s stock valued at $36,434,000 after purchasing an additional 558,853 shares during the period.

Carter’s Price Performance

CRI stock opened at $30.57 on Tuesday. The business’s 50-day moving average is $36.75 and its two-hundred day moving average is $37.15. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.47 and a quick ratio of 1.50. The firm has a market capitalization of $1.12 billion, a P/E ratio of 5.72, a P/E/G ratio of 3.43 and a beta of 0.84. Carter’s, Inc. has a 1 year low of $27.15 and a 1 year high of $44.44.

Carter’s (NYSE:CRI) last announced its quarterly earnings data on Friday, July 31st. The textile maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.20. Carter’s had a return on equity of 12.78% and a net margin of 6.55%.The business had revenue of $615.49 million during the quarter, compared to the consensus estimate of $605.68 million. During the same period in the previous year, the company posted $0.17 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts anticipate that Carter’s, Inc. will post 3.28 earnings per share for the current fiscal year.

Carter’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 1st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.00 dividend on an annualized basis and a yield of 3.3%. Carter’s’s payout ratio is currently 18.73%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CRI shares. Wall Street Zen upgraded shares of Carter’s from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings upgraded shares of Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Zacks Research raised shares of Carter’s from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 21st. BMO Capital Markets assumed coverage on shares of Carter’s in a research note on Tuesday, September 8th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Capital One Financial set a $40.00 price target on shares of Carter’s in a research note on Tuesday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.88.

Carter’s Company Profile

Carter’s, Inc (NYSE:CRI) is a specialty retailer and branded marketer of apparel, accessories and related products for babies and young children. The company’s portfolio includes Carter’s, OshKosh B’gosh, Skip Hop and Little Planet, offering items such as bodysuits, sleepwear, playwear, footwear, outerwear, accessories, baby gear and nursery products.

Founded in 1865 by William Carter, the company has developed into a major children’s apparel business. Carter’s products are sold through company-operated retail stores, e-commerce websites and wholesale partners, including department stores, mass merchants, specialty retailers and other distribution channels.

The company primarily serves customers in the United States and Canada, while also reaching international markets through select wholesale, licensing and distribution arrangements.