Citigroup Cuts Carter's (NYSE:CRI) Price Target to $45.00

Carter's (NYSE:CRI - Free Report) had its price objective lowered by Citigroup from $50.00 to $45.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the textile maker's stock.

Separately, 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. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $49.00.

Carter's Stock Down 2.0 %

Carter's stock traded down $0.85 during trading on Wednesday, reaching $41.30. 1,682,648 shares of the company's stock were exchanged, compared to its average volume of 1,127,734. The company's 50-day moving average is $52.30 and its two-hundred day moving average is $58.00. 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 has a 52-week low of $40.76 and a 52-week high of $88.03. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 6.56, a PEG ratio of 3.37 and a beta of 1.21.

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 analysts' consensus estimates of $1.87 by $0.52. Carter's had a return on equity of 27.15% and a net margin of 8.11%. The firm had revenue of $859.70 million during the quarter, compared to analysts' expectations of $835.82 million. During the same quarter in the prior year, the business earned $2.76 EPS. Carter's's quarterly revenue was up .2% compared to the same quarter last year. On average, analysts predict that Carter's will post 5.15 earnings per share for the current year.

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Carter's Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, March 10th. This represents a $3.20 annualized dividend and a dividend yield of 7.75%. Carter's's dividend payout ratio is 62.62%.

Institutional Investors Weigh In On Carter's

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new stake in Carter's in the 3rd quarter valued at approximately $28,000. Jones Financial Companies Lllp boosted its holdings in Carter's by 114.4% in the 4th quarter. Jones Financial Companies Lllp now owns 506 shares of the textile maker's stock valued at $27,000 after purchasing an additional 270 shares during the period. EverSource Wealth Advisors LLC grew its position in Carter's by 2,112.5% in 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 during the last quarter. Colonial Trust Co SC bought a new position in shares of Carter's during the 4th quarter worth about $29,000. Finally, Venturi Wealth Management LLC raised its position in shares of Carter's by 221.2% during the third 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 during the last quarter.

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.