Geode Capital Management LLC Trims Stake in Carter’s, Inc. (NYSE:CRI)

Geode Capital Management LLC cut its holdings in shares of Carter’s, Inc. (NYSE:CRI) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 600,584 shares of the textile maker’s stock after selling 2,769 shares during the quarter. Geode Capital Management LLC owned about 1.67% of Carter’s worth $39,036,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RWWM Inc. purchased a new position in Carter’s during the second quarter worth about $23,675,000. Pacer Advisors Inc. lifted its holdings in shares of Carter’s by 44.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,209,097 shares of the textile maker’s stock worth $74,928,000 after acquiring an additional 371,681 shares during the last quarter. AQR Capital Management LLC increased its holdings in Carter’s by 50.7% in the 2nd quarter. AQR Capital Management LLC now owns 555,568 shares of the textile maker’s stock valued at $34,212,000 after purchasing an additional 186,894 shares during the last quarter. American Century Companies Inc. increased its holdings in Carter’s by 29.2% in the 2nd quarter. American Century Companies Inc. now owns 757,116 shares of the textile maker’s stock valued at $46,918,000 after purchasing an additional 170,960 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Carter’s in the second quarter valued at approximately $9,760,000.

Carter’s Price Performance

Shares of NYSE CRI opened at $55.51 on Wednesday. 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 company has a market cap of $2.00 billion, a price-to-earnings ratio of 8.81, a price-to-earnings-growth ratio of 3.28 and a beta of 1.23. The stock’s 50-day moving average is $56.17 and its two-hundred day moving average is $61.31. Carter’s, Inc. has a 1-year low of $50.27 and a 1-year high of $88.03.

Carter’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 25th were issued a $0.80 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $3.20 annualized dividend and a yield of 5.76%. Carter’s’s dividend payout ratio (DPR) is 50.79%.

Analyst Upgrades and Downgrades

CRI has been the subject of a number of research reports. Citigroup raised Carter’s from a “sell” rating to a “neutral” rating and set a $50.00 price objective for the company in a research note on Tuesday, November 12th. Wells Fargo & Company dropped their target price on Carter’s from $72.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $67.67.

Carter’s Company Profile

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.