Carter’s, Inc. (NYSE:CRI) Stake Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in shares of Carter’s, Inc. (NYSE:CRI) by 2,145.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,580 shares of the textile maker’s stock after purchasing an additional 33,040 shares during the period. Allspring Global Investments Holdings LLC owned about 0.09% of Carter’s worth $2,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. acquired a new stake in Carter’s during the first quarter worth about $255,000. Sound Income Strategies LLC raised its position in shares of Carter’s by 7.5% during the 1st quarter. Sound Income Strategies LLC now owns 100,150 shares of the textile maker’s stock worth $8,481,000 after purchasing an additional 6,980 shares during the period. ARGA Investment Management LP lifted its holdings in shares of Carter’s by 17.5% in the 1st quarter. ARGA Investment Management LP now owns 10,620 shares of the textile maker’s stock worth $899,000 after purchasing an additional 1,581 shares during the last quarter. Park Avenue Securities LLC acquired a new position in Carter’s during the 1st quarter valued at approximately $208,000. Finally, Quadrature Capital Ltd bought a new position in Carter’s during the 4th quarter worth $580,000.

Carter’s Stock Performance

Shares of CRI opened at $61.44 on Wednesday. The firm has a market capitalization of $2.24 billion, a PE ratio of 9.69, a P/E/G ratio of 3.04 and a beta of 1.22. The company has a quick ratio of 1.30, a current ratio of 2.43 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $66.96 and a 200 day moving average price of $74.17. Carter’s, Inc. has a 52-week low of $60.57 and a 52-week high of $88.03.

Carter’s (NYSE:CRI) last posted its quarterly earnings data on Friday, April 26th. The textile maker reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.33. Carter’s had a net margin of 8.06% and a return on equity of 28.55%. The business had revenue of $661.49 million during the quarter, compared to analysts’ expectations of $633.05 million. On average, sell-side analysts anticipate that Carter’s, Inc. will post 6.3 earnings per share for the current fiscal year.

Carter’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 28th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 5.21%. The ex-dividend date was Friday, May 24th. Carter’s’s dividend payout ratio (DPR) is presently 50.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company cut their target price on Carter’s from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 24th. StockNews.com lowered shares of Carter’s from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, Citigroup dropped their price target on shares of Carter’s from $66.00 to $64.00 and set a “sell” rating on the stock in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.80.

About Carter’s

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.