Truist Financial Corp Sells 4,105 Shares of Carter’s, Inc. (NYSE:CRI)

Truist Financial Corp decreased its holdings in shares of Carter’s, Inc. (NYSE:CRI) by 16.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 21,470 shares of the textile maker’s stock after selling 4,105 shares during the period. Truist Financial Corp owned approximately 0.06% of Carter’s worth $1,331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CRI. Goldman Sachs Group Inc. raised its position in shares of Carter’s by 189.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 265,680 shares of the textile maker’s stock valued at $19,897,000 after acquiring an additional 173,855 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Carter’s in the 4th quarter valued at $37,000. Quadrature Capital Ltd bought a new stake in shares of Carter’s in the 4th quarter valued at $580,000. Park Avenue Securities LLC bought a new stake in shares of Carter’s in the 1st quarter valued at $208,000. Finally, ARGA Investment Management LP increased its position 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 valued at $899,000 after buying an additional 1,581 shares in the last quarter.

Carter’s Trading Up 1.9 %

Carter’s stock opened at $61.83 on Friday. The firm has a 50-day moving average of $65.56 and a 200-day moving average of $66.86. Carter’s, Inc. has a one year low of $54.74 and a one year high of $88.03. 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 company has a market cap of $2.26 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 3.86 and a beta of 1.23.

Carter’s (NYSE:CRI) last posted its quarterly earnings data on Friday, July 26th. The textile maker reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.31. Carter’s had a net margin of 8.29% and a return on equity of 28.65%. The company had revenue of $564.43 million during the quarter, compared to the consensus estimate of $566.79 million. On average, equities analysts expect that Carter’s, Inc. will post 4.87 earnings per share for the current fiscal year.

Carter’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were issued a $0.80 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.18%. Carter’s’s payout ratio is 50.47%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRI. Bank of America lowered their price objective on shares of Carter’s from $65.00 to $54.00 and set an “underperform” rating for the company in a research report on Monday, July 29th. Wells Fargo & Company upped their target price on shares of Carter’s from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, Carter’s has an average rating of “Hold” and an average target price of $71.17.

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.