Goldman Sachs Group Inc. Has $5.07 Million Stock Position in Carter’s, Inc. $CRI

Goldman Sachs Group Inc. reduced its position in shares of Carter’s, Inc. (NYSE:CRI) by 41.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 124,028 shares of the textile maker’s stock after selling 86,572 shares during the quarter. Goldman Sachs Group Inc. owned about 0.34% of Carter’s worth $5,073,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes 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 worth $89,591,000 after buying an additional 1,297,607 shares during the period. Millennium Management LLC raised its stake in Carter’s by 14,270.6% during the 1st quarter. Millennium Management LLC now owns 1,631,493 shares of the textile maker’s stock worth $66,728,000 after buying an additional 1,620,140 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Carter’s by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,327,040 shares of the textile maker’s stock worth $54,276,000 after buying an additional 81,097 shares during the period. American Century Companies Inc. raised its stake in Carter’s by 10.9% during the 1st quarter. American Century Companies Inc. now owns 1,183,289 shares of the textile maker’s stock worth $48,397,000 after buying an additional 116,113 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in Carter’s by 6.8% during the 1st quarter. Allianz Asset Management GmbH now owns 631,557 shares of the textile maker’s stock worth $25,831,000 after buying an additional 40,311 shares during the period.

Carter’s Price Performance

Carter’s stock opened at $31.78 on Wednesday. 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 price of $28.17 and a 200-day moving average price of $32.88. 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 firm has a market capitalization of $1.16 billion, a P/E ratio of 8.43 and a beta of 1.02.

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

Carter’s Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, August 26th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, August 26th. Carter’s’s dividend payout ratio (DPR) is presently 26.53%.

Wall Street Analyst Weigh In

CRI has been the topic of a number of research reports. UBS Group dropped their price target on Carter’s from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Monday, July 28th. Barclays decreased their price objective on Carter’s from $25.00 to $22.00 and set an “underweight” rating for the company in a report on Tuesday, July 29th. Finally, Zacks Research lowered Carter’s from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Sell” and an average price target of $30.25.

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.