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

Bank of New York Mellon Corp reduced its position in Carter’s, Inc. (NYSE:CRI) by 25.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 607,887 shares of the textile maker’s stock after selling 202,277 shares during the period. Bank of New York Mellon Corp owned 1.69% of Carter’s worth $24,863,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. RWWM Inc. raised its stake in Carter’s by 145.3% during the 1st quarter. RWWM Inc. now owns 2,190,482 shares of the textile maker’s stock valued at $89,591,000 after acquiring an additional 1,297,607 shares during the last quarter. AQR Capital Management LLC raised its stake in Carter’s by 124.4% during the 4th quarter. AQR Capital Management LLC now owns 1,739,522 shares of the textile maker’s stock valued at $93,134,000 after acquiring an additional 964,494 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in Carter’s by 108.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,126,468 shares of the textile maker’s stock valued at $61,043,000 after acquiring an additional 584,850 shares during the last quarter. First Trust Advisors LP raised its stake in Carter’s by 33.3% during the 4th quarter. First Trust Advisors LP now owns 1,919,953 shares of the textile maker’s stock valued at $104,042,000 after acquiring an additional 479,961 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Carter’s by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 3,895,549 shares of the textile maker’s stock valued at $211,100,000 after acquiring an additional 366,293 shares during the last quarter.

Carter’s Price Performance

Shares of NYSE:CRI opened at $30.22 on Thursday. The business’s fifty day moving average price is $32.25 and its two-hundred day moving average price is $40.39. The stock has a market cap of $1.10 billion, a PE ratio of 6.69 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.40 and a current ratio of 2.56. Carter’s, Inc. has a one year low of $29.36 and a one year high of $71.99.

Carter’s (NYSE:CRI) last announced its earnings results on Friday, April 25th. The textile maker reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. Carter’s had a return on equity of 23.50% and a net margin of 5.80%. The firm had revenue of $291.09 million for the quarter, compared to analysts’ expectations of $624.86 million. During the same quarter in the prior year, the firm earned $0.98 EPS. Carter’s’s quarterly revenue was down 4.8% on a year-over-year basis. On average, analysts forecast that Carter’s, Inc. will post 5.15 EPS for the current fiscal year.

Carter’s Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $0.25 per share. This is a boost from Carter’s’s previous dividend of $0.22. The ex-dividend date of this dividend was Monday, June 2nd. This represents a dividend yield of 3.19%. Carter’s’s dividend payout ratio (DPR) is 22.12%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. UBS Group dropped their target price on Carter’s from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company upped their price target on Carter’s from $25.00 to $28.00 and gave the stock an “underweight” rating in a report on Wednesday, May 14th. Finally, Barclays initiated coverage on Carter’s in a report on Monday, April 28th. They issued an “underweight” rating and a $25.00 price target on the stock. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat.com, Carter’s has a consensus rating of “Reduce” and a consensus price target of $36.80.

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.