Carter’s (NYSE:CRI) Price Target Lowered to $68.00 at Wells Fargo & Company

Carter’s (NYSE:CRI) had its target price decreased by Wells Fargo & Company from $75.00 to $68.00 in a report issued on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the textile maker’s stock.

Other research analysts have also recently issued reports about the stock. Monness Crespi & Hardt cut shares of Carter’s from a buy rating to a neutral rating in a report on Monday, February 26th. Citigroup decreased their target price on Carter’s from $66.00 to $64.00 and set a sell rating on the stock in a research report on Thursday, April 18th. Evercore ISI raised their target price on shares of Carter’s from $70.00 to $80.00 and gave the company an in-line rating in a report on Wednesday, February 28th. StockNews.com downgraded shares of Carter’s from a buy rating to a hold rating in a report on Wednesday, April 10th. Finally, Wedbush lifted their price objective on Carter’s from $67.00 to $78.00 and gave the stock a neutral rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $73.80.

Carter’s Stock Down 1.7 %

CRI stock opened at $72.64 on Wednesday. The stock has a market capitalization of $2.66 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 2.15 and a beta of 1.29. The company has a fifty day moving average of $80.15 and a 200-day moving average of $74.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.10 and a current ratio of 2.15. Carter’s has a one year low of $60.65 and a one year high of $88.03.

Carter’s (NYSE:CRI) last issued its earnings results on Tuesday, February 27th. The textile maker reported $2.76 EPS for the quarter, topping the consensus estimate of $2.52 by $0.24. The company had revenue of $858.00 million for the quarter, compared to analyst estimates of $867.81 million. Carter’s had a net margin of 7.89% and a return on equity of 28.79%. The business’s revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.29 EPS. As a group, analysts expect that Carter’s will post 6.52 EPS for the current year.

Carter’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were issued a $0.80 dividend. This is a boost from Carter’s’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.20 annualized dividend and a yield of 4.41%. Carter’s’s payout ratio is 51.04%.

Insider Activity

In related news, Director Mark Hipp sold 1,875 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $81.74, for a total value of $153,262.50. Following the sale, the director now directly owns 10,216 shares of the company’s stock, valued at $835,055.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. raised its holdings in shares of Carter’s by 366.7% in the 3rd quarter. Ronald Blue Trust Inc. now owns 490 shares of the textile maker’s stock worth $36,000 after purchasing an additional 385 shares during the period. Ables Iannone Moore & Associates Inc. purchased a new position in Carter’s in the fourth quarter valued at approximately $37,000. Blue Trust Inc. raised its holdings in Carter’s by 28.6% in the fourth quarter. Blue Trust Inc. now owns 630 shares of the textile maker’s stock valued at $44,000 after buying an additional 140 shares during the period. Parallel Advisors LLC grew its stake in Carter’s by 457.2% during the fourth quarter. Parallel Advisors LLC now owns 808 shares of the textile maker’s stock worth $61,000 after buying an additional 663 shares during the period. Finally, Stevens Capital Management LP purchased a new position in shares of Carter’s in the 4th quarter valued at $204,000.

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.