LPL Financial LLC Increases Stake in Carter’s (CRI)

LPL Financial LLC grew its stake in shares of Carter’s (NYSE:CRI) by 204.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,129 shares of the textile maker’s stock after purchasing an additional 8,820 shares during the period. LPL Financial LLC’s holdings in Carter’s were worth $1,543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CRI. Janus Henderson Group PLC lifted its position in Carter’s by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,411,220 shares of the textile maker’s stock valued at $336,858,000 after acquiring an additional 11,350 shares during the period. Millennium Management LLC lifted its position in Carter’s by 156.5% during the 4th quarter. Millennium Management LLC now owns 869,178 shares of the textile maker’s stock valued at $102,120,000 after acquiring an additional 530,306 shares during the period. Congress Asset Management Co. MA lifted its position in Carter’s by 2.4% during the 4th quarter. Congress Asset Management Co. MA now owns 822,246 shares of the textile maker’s stock valued at $96,606,000 after acquiring an additional 19,644 shares during the period. APG Asset Management N.V. lifted its position in Carter’s by 194.4% during the 4th quarter. APG Asset Management N.V. now owns 640,948 shares of the textile maker’s stock valued at $62,712,000 after acquiring an additional 423,200 shares during the period. Finally, Geode Capital Management LLC lifted its position in Carter’s by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 443,291 shares of the textile maker’s stock valued at $52,082,000 after acquiring an additional 3,902 shares during the period. 97.50% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Carter’s stock opened at $105.00 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.10 and a quick ratio of 1.43. The stock has a market capitalization of $4,770.82, a price-to-earnings ratio of 18.23, a PEG ratio of 1.56 and a beta of 0.44. Carter’s has a 52-week low of $79.76 and a 52-week high of $129.00.

Carter’s (NYSE:CRI) last issued its earnings results on Tuesday, February 27th. The textile maker reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.12. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Carter’s had a net margin of 8.90% and a return on equity of 35.46%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.79 earnings per share. research analysts predict that Carter’s will post 6.71 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Monday, March 12th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, March 9th. This is a boost from Carter’s’s previous quarterly dividend of $0.37. This represents a $1.80 annualized dividend and a yield of 1.71%. Carter’s’s payout ratio is 31.25%.

Carter’s declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the textile maker to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

A number of research analysts recently issued reports on CRI shares. B. Riley set a $127.00 price target on shares of Carter’s and gave the company a “buy” rating in a research report on Monday, March 26th. Zacks Investment Research raised shares of Carter’s from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Thursday, January 11th. Monness Crespi & Hardt reissued a “buy” rating and set a $137.00 price target (up from $115.00) on shares of Carter’s in a research report on Friday, February 23rd. SunTrust Banks started coverage on shares of Carter’s in a research report on Thursday, December 21st. They set a “hold” rating and a $126.00 price target for the company. Finally, Wells Fargo set a $145.00 price target on shares of Carter’s and gave the company a “buy” rating in a research report on Monday, March 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $121.00.

In other Carter’s news, insider Brian Lynch sold 26,500 shares of Carter’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $116.12, for a total value of $3,077,180.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by insiders.

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About Carter’s

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, Child of Mine, Just One You, Precious Firsts, Simple Joys, OshKosh, Skip Hop, and other brands. The company operates through three segments: U.S. Retail, U.S. Wholesale, and International.

Institutional Ownership by Quarter for Carter`s (NYSE:CRI)

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