Principal Financial Group Inc. Cuts Stake in Carter's, Inc. (NYSE:CRI)

Principal Financial Group Inc. reduced its holdings in Carter's, Inc. (NYSE:CRI - Free Report) by 31.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,652 shares of the textile maker's stock after selling 37,899 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Carter's worth $5,436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRI. GAMMA Investing LLC raised its stake in Carter's by 112.0% during the third quarter. GAMMA Investing LLC now owns 405 shares of the textile maker's stock worth $26,000 after purchasing an additional 214 shares during the period. Gladius Capital Management LP purchased a new position in Carter's during the second quarter worth about $30,000. CWM LLC raised its stake in Carter's by 431.3% during the second quarter. CWM LLC now owns 595 shares of the textile maker's stock worth $37,000 after purchasing an additional 483 shares during the period. Abich Financial Wealth Management LLC increased its position in shares of Carter's by 67.6% during the second quarter. Abich Financial Wealth Management LLC now owns 858 shares of the textile maker's stock valued at $53,000 after acquiring an additional 346 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Carter's during the first quarter valued at about $77,000.

Analyst Ratings Changes

A number of brokerages have weighed in on CRI. Wells Fargo & Company dropped their price target on shares of Carter's from $72.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. Citigroup upgraded shares of Carter's from a "sell" rating to a "neutral" rating and set a $50.00 price objective for the company in a report on Tuesday, November 12th. Finally, Bank of America lowered their price target on shares of Carter's from $65.00 to $54.00 and set an "underperform" rating for the company in a report on Monday, July 29th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $67.67.

Carter's Stock Down 2.0 %

Shares of NYSE:CRI opened at $50.95 on Thursday. The firm has a 50 day simple moving average of $61.27 and a 200-day simple moving average of $63.50. Carter's, Inc. has a twelve month low of $50.27 and a twelve month high of $88.03. The company has a market capitalization of $1.84 billion, a PE ratio of 8.09, a P/E/G ratio of 3.13 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60.

Carter's Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 25th will be given a $0.80 dividend. The ex-dividend date is Monday, November 25th. This represents a $3.20 annualized dividend and a yield of 6.28%. Carter's's dividend payout ratio (DPR) is 50.79%.

Carter's 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.