Victory Capital Management Inc. Lowers Holdings in Carter’s, Inc. (NYSE:CRI)

Victory Capital Management Inc. reduced its holdings in shares of Carter’s, Inc. (NYSE:CRI) by 71.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,418 shares of the textile maker’s stock after selling 50,486 shares during the period. Victory Capital Management Inc. owned about 0.06% of Carter’s worth $835,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Carter’s by 38.2% during the first quarter. GAMMA Investing LLC now owns 2,004 shares of the textile maker’s stock worth $82,000 after buying an additional 554 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Carter’s by 12.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,790 shares of the textile maker’s stock valued at $1,205,000 after purchasing an additional 3,243 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Carter’s by 20.8% in the 1st quarter. Crossmark Global Holdings Inc. now owns 7,170 shares of the textile maker’s stock valued at $293,000 after purchasing an additional 1,234 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Carter’s in the 1st quarter valued at $250,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Carter’s by 9.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 114,769 shares of the textile maker’s stock worth $6,219,000 after purchasing an additional 9,611 shares during the last quarter.

Carter’s Trading Down 1.8%

NYSE CRI opened at $24.21 on Friday. The firm’s fifty day moving average price is $30.91 and its 200 day moving average price is $38.57. Carter’s, Inc. has a 12 month low of $23.50 and a 12 month high of $71.99. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.20 and a quick ratio of 1.03. The company has a market capitalization of $881.79 million, a price-to-earnings ratio of 6.42 and a beta of 0.98.

Carter’s (NYSE:CRI) last issued its quarterly earnings data on Friday, July 25th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.26). Carter’s had a return on equity of 20.68% and a net margin of 4.79%. The firm had revenue of $585.31 million for the quarter, compared to analysts’ expectations of $563.24 million. During the same period in the previous year, the business posted $0.76 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts expect that Carter’s, Inc. will post 5.15 earnings per share for the current fiscal year.

Carter’s Increases Dividend

The company also recently declared a dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, June 3rd were given a dividend of $0.25 per share. This represents a yield of 319.0%. This is a positive change from Carter’s’s previous dividend of $0.22. The ex-dividend date of this dividend was Monday, June 2nd. Carter’s’s dividend payout ratio is presently 26.53%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CRI. Barclays dropped their target price on Carter’s from $25.00 to $22.00 and set an “underweight” rating on the stock in a report on Tuesday. Wells Fargo & Company increased their price objective on Carter’s from $25.00 to $28.00 and gave the company an “underweight” rating in a report on Wednesday, May 14th. Finally, UBS Group cut their target price on Carter’s from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday.

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.