Carter’s (NYSE:CRI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Carter’s (NYSE:CRI) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. UBS Group reaffirmed a “buy” rating on shares of Carter’s in a research note on Wednesday, July 8th. Citigroup restated a “buy” rating on shares of Carter’s in a report on Tuesday, July 21st. Capital One Financial set a $40.00 price objective on shares of Carter’s in a research note on Tuesday, September 8th. BMO Capital Markets initiated coverage on shares of Carter’s in a research report on Tuesday, September 8th. They set an “outperform” rating and a $40.00 price objective on the stock. Finally, Weiss Ratings raised shares of Carter’s from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. 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 given a Sell rating to the company. According to MarketBeat, Carter’s presently has an average rating of “Moderate Buy” and a consensus price target of $40.88.

Carter’s Stock Performance

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

Carter’s (NYSE:CRI) last issued its quarterly earnings data on Friday, July 31st. The textile maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $605.68 million. During the same period in the prior year, the firm earned $0.17 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts predict that Carter’s will post 3.28 EPS for the current fiscal year.

Carter’s Dividend Announcement

The firm 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 1st. Carter’s’s dividend payout ratio (DPR) is currently 18.73%.

Hedge Funds Weigh In On Carter’s

Several hedge funds have recently bought and sold shares of CRI. California State Teachers Retirement System lifted its position in shares of Carter’s by 3,916.7% during the second quarter. California State Teachers Retirement System now owns 1,858,497 shares of the textile maker’s stock worth $76,496,000 after purchasing an additional 1,812,228 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Carter’s by 36.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,765,205 shares of the textile maker’s stock worth $63,121,000 after buying an additional 472,786 shares during the period. Rubric Capital Management LP lifted its holdings in Carter’s by 121.5% during the 1st quarter. Rubric Capital Management LP now owns 1,018,853 shares of the textile maker’s stock valued at $36,434,000 after buying an additional 558,853 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Carter’s during the 2nd quarter valued at about $28,348,000. Finally, Wellington Management Group LLP boosted 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 buying an additional 68,464 shares during the period.

About Carter’s

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.