Bank of New York Mellon Corp Lowers Position in Carter’s, Inc. (NYSE:CRI)

Bank of New York Mellon Corp cut its holdings in shares of Carter’s, Inc. (NYSE:CRI) by 18.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 810,164 shares of the textile maker’s stock after selling 187,169 shares during the quarter. Bank of New York Mellon Corp owned about 2.25% of Carter’s worth $43,903,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Carter’s during the 3rd quarter worth $28,000. Venturi Wealth Management LLC boosted its holdings in Carter’s by 221.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 726 shares of the textile maker’s stock valued at $47,000 after acquiring an additional 500 shares during the period. Truvestments Capital LLC purchased a new position in Carter’s during the 3rd quarter valued at about $74,000. GAMMA Investing LLC boosted its holdings in Carter’s by 258.0% during the 4th quarter. GAMMA Investing LLC now owns 1,450 shares of the textile maker’s stock valued at $79,000 after acquiring an additional 1,045 shares during the period. Finally, KBC Group NV boosted its holdings in Carter’s by 136.7% during the 4th quarter. KBC Group NV now owns 1,780 shares of the textile maker’s stock valued at $96,000 after acquiring an additional 1,028 shares during the period.

Carter’s Price Performance

CRI stock opened at $40.79 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 0.96. The firm has a market capitalization of $1.47 billion, a P/E ratio of 6.47, a P/E/G ratio of 3.37 and a beta of 1.24. The business’s 50-day moving average is $51.46 and its two-hundred day moving average is $57.50. Carter’s, Inc. has a 1 year low of $39.88 and a 1 year high of $88.03.

Carter’s (NYSE:CRI) last posted its quarterly earnings results on Tuesday, February 25th. The textile maker reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.52. Carter’s had a return on equity of 27.15% and a net margin of 8.11%. The company had revenue of $859.70 million for the quarter, compared to analyst estimates of $835.82 million. During the same quarter last year, the company earned $2.76 EPS. Carter’s’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts anticipate that Carter’s, Inc. will post 5.15 earnings per share for the current fiscal year.

Carter’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 7.85%. The ex-dividend date of this dividend is Monday, March 10th. Carter’s’s dividend payout ratio (DPR) is presently 62.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup lowered their target price on Carter’s from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company lowered their target price on Carter’s from $65.00 to $48.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, UBS Group lowered their target price on Carter’s from $57.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $49.00.

Carter’s Profile

Carter’s, Inc engages in the business of brand marketing of young children’s apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.