Carter's (NYSE:CRI) Shares Up 5.4% - Here's Why

Carter's, Inc. (NYSE:CRI - Get Free Report)'s share price shot up 5.4% on Friday . The company traded as high as $38.05 and last traded at $37.49. 857,730 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 1,366,426 shares. The stock had previously closed at $35.57.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CRI shares. UBS Group decreased their price target on shares of Carter's from $57.00 to $49.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company cut their price target on Carter's from $65.00 to $48.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Finally, Citigroup decreased their target price on Carter's from $50.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, Carter's has a consensus rating of "Hold" and a consensus target price of $49.00.

Carter's Stock Up 18.6 %

The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $1.41 billion, a PE ratio of 6.20, a P/E/G ratio of 3.37 and a beta of 1.09. The stock's fifty day simple moving average is $43.99 and its 200-day simple moving average is $52.37.

Carter's (NYSE:CRI - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The textile maker reported $2.39 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.52. The business had revenue of $859.70 million for the quarter, compared to analysts' expectations of $835.82 million. Carter's had a net margin of 8.11% and a return on equity of 27.15%. The firm's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.76 earnings per share. As a group, sell-side analysts forecast that Carter's, Inc. will post 5.15 EPS for the current fiscal year.

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Carter's Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 8.20%. The ex-dividend date of this dividend was Monday, March 10th. Carter's's payout ratio is 62.62%.

Hedge Funds Weigh In On Carter's

Several institutional investors have recently added to or reduced their stakes in CRI. FMR LLC raised its stake in shares of Carter's by 99.9% in the third quarter. FMR LLC now owns 4,681 shares of the textile maker's stock valued at $304,000 after buying an additional 2,339 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Carter's by 0.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,158 shares of the textile maker's stock valued at $6,833,000 after purchasing an additional 716 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of Carter's during the 3rd quarter valued at about $231,000. Quantinno Capital Management LP purchased a new stake in Carter's in the third quarter valued at approximately $772,000. Finally, Wellington Management Group LLP lifted its position in Carter's by 4.0% during the third quarter. Wellington Management Group LLP now owns 1,545,436 shares of the textile maker's stock valued at $100,422,000 after purchasing an additional 60,089 shares during 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.