Wells Fargo & Company Cuts Carter’s (NYSE:CRI) Price Target to $48.00

Carter’s (NYSE:CRI) had its price objective trimmed by Wells Fargo & Company from $65.00 to $48.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the textile maker’s stock.

Separately, Citigroup upgraded shares of Carter’s from a “sell” rating to a “neutral” rating and set a $50.00 target price on the stock in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $49.00.

Carter’s Trading Down 2.0 %

Shares of NYSE CRI opened at $41.30 on Wednesday. The firm has a 50 day moving average price of $52.30 and a two-hundred day moving average price of $58.00. The stock has a market cap of $1.49 billion, a P/E ratio of 6.56, a price-to-earnings-growth ratio of 3.37 and a beta of 1.21. Carter’s has a 52-week low of $40.76 and a 52-week high of $88.03. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.96 and a current ratio of 2.21.

Carter’s (NYSE:CRI) last issued its quarterly earnings data on Tuesday, February 25th. The textile maker reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.52. The company had revenue of $859.70 million during the quarter, compared to the consensus estimate of $835.82 million. Carter’s had a return on equity of 27.15% and a net margin of 8.11%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $2.76 earnings per share. As a group, equities analysts forecast that Carter’s will post 5.15 EPS for the current year.

Carter’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 7.75%. The ex-dividend date of this dividend is Monday, March 10th. Carter’s’s payout ratio is 62.62%.

Institutional Trading of Carter’s

Hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in Carter’s in the third quarter worth $28,000. Jones Financial Companies Lllp boosted its position in shares of Carter’s by 114.4% during the 4th quarter. Jones Financial Companies Lllp now owns 506 shares of the textile maker’s stock worth $27,000 after purchasing an additional 270 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Carter’s by 2,112.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 531 shares of the textile maker’s stock worth $29,000 after purchasing an additional 507 shares in the last quarter. Colonial Trust Co SC acquired a new stake in shares of Carter’s in the 4th quarter valued at about $29,000. Finally, Venturi Wealth Management LLC increased its position in Carter’s by 221.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 726 shares of the textile maker’s stock valued at $47,000 after buying an additional 500 shares in the last quarter.

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.