Nuveen LLC Invests $2.46 Million in Carter’s, Inc. $CRI

Nuveen LLC bought a new stake in Carter’s, Inc. (NYSE:CRI) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 60,028 shares of the textile maker’s stock, valued at approximately $2,455,000. Nuveen LLC owned about 0.16% of Carter’s at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRI. Aigen Investment Management LP acquired a new position in Carter’s in the first quarter valued at $1,526,000. Invesco Ltd. lifted its holdings in shares of Carter’s by 33.5% in the 1st quarter. Invesco Ltd. now owns 171,628 shares of the textile maker’s stock valued at $7,020,000 after purchasing an additional 43,074 shares during the last quarter. Covestor Ltd boosted its stake in Carter’s by 18.6% during the 1st quarter. Covestor Ltd now owns 2,575 shares of the textile maker’s stock worth $106,000 after purchasing an additional 404 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Carter’s during the 1st quarter worth $1,147,000. Finally, CenterBook Partners LP acquired a new position in Carter’s in the first quarter valued at $7,187,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. UBS Group decreased their target price on shares of Carter’s from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. Zacks Research downgraded Carter’s from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 13th. Barclays lowered their target price on Carter’s from $25.00 to $22.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 29th. Finally, Wells Fargo & Company boosted their target price on Carter’s from $25.00 to $28.00 and gave the company an “underweight” rating in a report on Wednesday, May 14th. Two research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Strong Sell” and a consensus target price of $30.25.

Carter’s Price Performance

Carter’s stock opened at $28.62 on Friday. The company has a market cap of $1.04 billion, a P/E ratio of 7.59 and a beta of 0.99. Carter’s, Inc. has a one year low of $23.38 and a one year high of $71.99. The business has a fifty day moving average of $28.58 and a two-hundred day moving average of $34.63. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 2.20.

Carter’s (NYSE:CRI) last announced its quarterly earnings results on Friday, July 25th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.26). Carter’s had a net margin of 4.79% and a return on equity of 20.68%. The company had revenue of $585.31 million during the quarter, compared to analysts’ expectations of $563.24 million. During the same quarter in the prior year, the business earned $0.76 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts predict that Carter’s, Inc. will post 5.15 earnings per share for the current fiscal year.

Carter’s Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, August 26th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, August 26th. Carter’s’s dividend payout ratio (DPR) is presently 26.53%.

About Carter’s

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.