Mirae Asset Global Investments Co. Ltd. Boosts Stake in Carter’s, Inc. $CRI

Mirae Asset Global Investments Co. Ltd. raised its position in Carter’s, Inc. (NYSE:CRI) by 13.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,650 shares of the textile maker’s stock after purchasing an additional 3,860 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.09% of Carter’s worth $1,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RWWM Inc. raised its position in Carter’s by 145.3% in the 1st quarter. RWWM Inc. now owns 2,190,482 shares of the textile maker’s stock worth $89,591,000 after purchasing an additional 1,297,607 shares during the period. Millennium Management LLC increased its position in shares of Carter’s by 14,270.6% during the first quarter. Millennium Management LLC now owns 1,631,493 shares of the textile maker’s stock worth $66,728,000 after acquiring an additional 1,620,140 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Carter’s by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,327,040 shares of the textile maker’s stock worth $54,276,000 after acquiring an additional 81,097 shares during the period. American Century Companies Inc. increased its position in shares of Carter’s by 10.9% during the first quarter. American Century Companies Inc. now owns 1,183,289 shares of the textile maker’s stock worth $48,397,000 after acquiring an additional 116,113 shares during the period. Finally, Allianz Asset Management GmbH increased its position in shares of Carter’s by 6.8% during the first quarter. Allianz Asset Management GmbH now owns 631,557 shares of the textile maker’s stock worth $25,831,000 after acquiring an additional 40,311 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRI. UBS Group reduced their target price on shares of Carter’s from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, July 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Carter’s in a research report on Saturday, September 27th. Barclays reduced their target price on shares of Carter’s from $25.00 to $22.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 29th. Finally, Zacks Research lowered shares of Carter’s from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Sell” and an average target price of $30.25.

Carter’s Price Performance

Shares of CRI opened at $29.31 on Friday. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 7.77 and a beta of 1.07. Carter’s, Inc. has a twelve month low of $23.38 and a twelve month high of $68.69. The company has a quick ratio of 1.03, a current ratio of 2.20 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $28.03 and a two-hundred day moving average of $31.58.

Carter’s (NYSE:CRI) last announced its earnings results on Friday, July 25th. The textile maker reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.26). The firm had revenue of $585.31 million during the quarter, compared to analyst estimates of $563.24 million. Carter’s had a net margin of 4.79% and a return on equity of 20.68%. Carter’s’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $0.76 earnings per share. 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 company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, August 26th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.4%. The ex-dividend date was Tuesday, August 26th. Carter’s’s dividend payout ratio (DPR) is 26.53%.

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.