Oppenheimer Asset Management Inc. Grows Position in Carter’s, Inc. (NYSE:CRI)

Oppenheimer Asset Management Inc. increased its holdings in shares of Carter’s, Inc. (NYSE:CRI) by 39.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,061 shares of the textile maker’s stock after purchasing an additional 2,264 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Carter’s were worth $500,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wasatch Advisors LP acquired a new stake in shares of Carter’s during the first quarter valued at about $45,011,000. Norges Bank acquired a new stake in Carter’s in the 4th quarter valued at approximately $31,193,000. Reinhart Partners LLC. raised its position in Carter’s by 67.3% in the second quarter. Reinhart Partners LLC. now owns 461,190 shares of the textile maker’s stock valued at $28,580,000 after purchasing an additional 185,458 shares during the period. Goldman Sachs Group Inc. lifted its stake in Carter’s by 189.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 265,680 shares of the textile maker’s stock worth $19,897,000 after purchasing an additional 173,855 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Carter’s by 29.2% during the second quarter. American Century Companies Inc. now owns 757,116 shares of the textile maker’s stock worth $46,918,000 after buying an additional 170,960 shares during the period.

Wall Street Analysts Forecast Growth

CRI has been the topic of several research analyst reports. Wells Fargo & Company increased their target price on Carter’s from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Monday, September 9th. Bank of America reduced their price target on shares of Carter’s from $65.00 to $54.00 and set an “underperform” rating on the stock in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $71.17.

Carter’s Price Performance

CRI stock opened at $67.05 on Friday. The business’s 50-day moving average is $64.37 and its two-hundred day moving average is $69.14. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.09 and a quick ratio of 0.95. The firm has a market capitalization of $2.45 billion, a P/E ratio of 10.58, a P/E/G ratio of 4.35 and a beta of 1.23. Carter’s, Inc. has a 1 year low of $54.74 and a 1 year high of $88.03.

Carter’s (NYSE:CRI) last issued its earnings results on Friday, July 26th. The textile maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.31. Carter’s had a net margin of 8.29% and a return on equity of 28.65%. The firm had revenue of $564.43 million for the quarter, compared to analysts’ expectations of $566.79 million. Analysts anticipate that Carter’s, Inc. will post 4.9 earnings per share for the current fiscal year.

Carter’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were paid a dividend of $0.80 per share. The ex-dividend date was Tuesday, August 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.77%. Carter’s’s payout ratio is currently 50.47%.

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.