Merit Financial Group LLC Makes New Investment in Carter’s, Inc. (NYSE:CRI)

Merit Financial Group LLC bought a new stake in Carter’s, Inc. (NYSE:CRI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,369 shares of the textile maker’s stock, valued at approximately $291,000.

Several other institutional investors and hedge funds have also modified their holdings of CRI. GAMMA Investing LLC raised its stake in shares of Carter’s by 112.0% in the third quarter. GAMMA Investing LLC now owns 405 shares of the textile maker’s stock worth $26,000 after acquiring an additional 214 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Carter’s in the 3rd quarter worth approximately $28,000. Venturi Wealth Management LLC lifted 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 worth $47,000 after buying an additional 500 shares in the last quarter. Truvestments Capital LLC bought a new position in Carter’s in the 3rd quarter valued at $74,000. Finally, Covestor Ltd increased its stake in shares of Carter’s by 15.3% in the 3rd quarter. Covestor Ltd now owns 2,031 shares of the textile maker’s stock valued at $132,000 after buying an additional 270 shares during the period.

Carter’s Price Performance

Shares of CRI opened at $54.11 on Friday. The stock has a market cap of $1.95 billion, a P/E ratio of 8.59, a price-to-earnings-growth ratio of 3.55 and a beta of 1.22. Carter’s, Inc. has a 1 year low of $50.25 and a 1 year high of $88.03. The stock’s 50-day moving average price is $54.32 and its two-hundred day moving average price is $59.76. The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60.

Carter’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 25th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date was Monday, November 25th. Carter’s’s dividend payout ratio is currently 50.79%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CRI. Citigroup upgraded Carter’s from a “sell” rating to a “neutral” rating and set a $50.00 price target on the stock in a report on Tuesday, November 12th. Wells Fargo & Company reduced their target price on shares of Carter’s from $72.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.67.

Carter’s Company 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.