Carter's (NYSE:CRI) Shares Gap Down - Here's What Happened

Carter's, Inc. (NYSE:CRI - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $65.69, but opened at $64.00. Carter's shares last traded at $61.07, with a volume of 439,370 shares traded.

Analyst Ratings Changes

CRI has been the subject of several recent analyst reports. Bank of America reduced their price objective on shares of Carter's from $65.00 to $54.00 and set an "underperform" rating for the company in a research note on Monday, July 29th. Wells Fargo & Company raised their price target on shares of Carter's from $60.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Monday, September 9th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to MarketBeat, Carter's currently has an average rating of "Hold" and a consensus price target of $71.17.

Carter's Price Performance

The company has a 50 day moving average of $66.32 and a 200 day moving average of $65.99. The company has a quick ratio of 0.95, a current ratio of 2.09 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 3.86 and a beta of 1.23.

Carter's (NYSE:CRI - Get Free Report) last released its earnings results on Friday, July 26th. The textile maker reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.31. Carter's had a return on equity of 28.65% and a net margin of 8.29%. The business had revenue of $564.43 million for the quarter, compared to the consensus estimate of $566.79 million. As a group, equities research analysts forecast that Carter's, Inc. will post 4.87 EPS for the current fiscal year.

Carter's Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.80 per share. The ex-dividend date was Tuesday, August 27th. This represents a $3.20 annualized dividend and a dividend yield of 5.62%. Carter's's dividend payout ratio is currently 50.47%.

Institutional Investors Weigh In On Carter's

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Carter's by 112.0% during the third quarter. GAMMA Investing LLC now owns 405 shares of the textile maker's stock valued at $26,000 after acquiring an additional 214 shares during the last quarter. Gladius Capital Management LP acquired a new stake in shares of Carter's during the second quarter worth $30,000. CWM LLC increased its position in Carter's by 431.3% during the 2nd quarter. CWM LLC now owns 595 shares of the textile maker's stock worth $37,000 after purchasing an additional 483 shares in the last quarter. Abich Financial Wealth Management LLC lifted its position in Carter's by 67.6% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 858 shares of the textile maker's stock worth $53,000 after acquiring an additional 346 shares in the last quarter. Finally, LRI Investments LLC bought a new position in Carter's during the 1st quarter worth $77,000.

Carter's Company Profile

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.