Envestnet Asset Management Inc. Sells 12,590 Shares of Carter's, Inc. (NYSE:CRI)

Envestnet Asset Management Inc. cut its stake in shares of Carter's, Inc. (NYSE:CRI - Free Report) by 19.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,240 shares of the textile maker's stock after selling 12,590 shares during the period. Envestnet Asset Management Inc. owned approximately 0.14% of Carter's worth $2,777,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CRI. Barclays PLC lifted its holdings in shares of Carter's by 58.7% during the 3rd quarter. Barclays PLC now owns 20,077 shares of the textile maker's stock valued at $1,304,000 after buying an additional 7,429 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Carter's during the 3rd quarter worth about $692,000. Franklin Resources Inc. increased its holdings in shares of Carter's by 109.8% during the 3rd quarter. Franklin Resources Inc. now owns 38,617 shares of the textile maker's stock valued at $2,468,000 after acquiring an additional 20,210 shares during the last quarter. GAMMA Investing LLC grew its holdings in Carter's by 258.0% during the fourth quarter. GAMMA Investing LLC now owns 1,450 shares of the textile maker's stock valued at $79,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its position in shares of Carter's by 66.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 5,182 shares of the textile maker's stock valued at $281,000 after purchasing an additional 2,074 shares during the period.

Carter's Price Performance

Shares of Carter's stock traded up $1.03 during midday trading on Tuesday, hitting $33.93. 1,851,292 shares of the company were exchanged, compared to its average volume of 1,232,218. The firm has a 50 day simple moving average of $39.92 and a 200-day simple moving average of $49.75. Carter's, Inc. has a 52 week low of $32.12 and a 52 week high of $72.11. The firm has a market cap of $1.22 billion, a P/E ratio of 5.39, a PEG ratio of 3.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 0.96.

Carter's (NYSE:CRI - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The textile maker reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.13. Carter's had a net margin of 8.11% and a return on equity of 27.15%. The business had revenue of $291.09 million during the quarter, compared to analyst estimates of $624.86 million. During the same quarter last year, the business posted $0.98 earnings per share. Carter's's revenue for the quarter was down 4.8% compared to the same quarter last year. Research analysts forecast that Carter's, Inc. will post 5.15 earnings per share for the current year.

Carter's Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 9.43%. The ex-dividend date was Monday, March 10th. Carter's's dividend payout ratio is 70.80%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citigroup decreased their price target on shares of Carter's from $50.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company reduced their price target on shares of Carter's from $65.00 to $48.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Barclays began coverage on shares of Carter's in a research report on Monday. They set an "underweight" rating and a $25.00 price objective for the company. Finally, UBS Group reduced their target price on shares of Carter's from $37.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, Carter's has a consensus rating of "Hold" and a consensus price target of $40.80.

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.