Carter’s, Inc. (NYSE:CRI) Stake Lowered by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in shares of Carter’s, Inc. (NYSE:CRI) by 57.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,082 shares of the textile maker’s stock after selling 2,822 shares during the period. PNC Financial Services Group Inc.’s holdings in Carter’s were worth $171,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Carter’s by 0.9% in the third quarter. Vanguard Group Inc. now owns 3,875,314 shares of the textile maker’s stock valued at $382,106,000 after buying an additional 35,282 shares in the last quarter. Vanguard Group Inc lifted its stake in Carter’s by 0.9% in the third quarter. Vanguard Group Inc now owns 3,875,314 shares of the textile maker’s stock valued at $382,106,000 after buying an additional 35,282 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Carter’s by 16.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,544,797 shares of the textile maker’s stock valued at $207,706,000 after buying an additional 358,393 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Carter’s by 20.1% in the fourth quarter. Mackenzie Financial Corp now owns 1,348,554 shares of the textile maker’s stock valued at $110,069,000 after buying an additional 226,089 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Carter’s by 14.8% in the third quarter. JPMorgan Chase & Co. now owns 1,028,620 shares of the textile maker’s stock valued at $101,422,000 after buying an additional 132,471 shares in the last quarter. 95.82% of the stock is owned by institutional investors.

A number of research analysts have weighed in on CRI shares. Citigroup reaffirmed a “buy” rating and issued a $120.00 price target on shares of Carter’s in a research note on Monday, March 18th. Wells Fargo & Co cut their price objective on shares of Carter’s from $105.00 to $98.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 2nd. ValuEngine lowered shares of Carter’s from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. Zacks Investment Research lowered shares of Carter’s from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. Finally, TheStreet raised shares of Carter’s from a “c+” rating to a “b-” rating in a research report on Wednesday, March 13th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Carter’s currently has a consensus rating of “Hold” and a consensus price target of $108.44.

Shares of NYSE:CRI traded up $0.13 on Monday, hitting $105.11. The company had a trading volume of 509,111 shares, compared to its average volume of 728,072. Carter’s, Inc. has a 1-year low of $75.66 and a 1-year high of $118.22. The company has a market cap of $4.77 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.92 and a beta of 0.61. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.19 and a quick ratio of 1.43.

Carter’s (NYSE:CRI) last released its quarterly earnings data on Monday, February 25th. The textile maker reported $2.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.57 by $0.27. Carter’s had a net margin of 8.15% and a return on equity of 35.33%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the company earned $2.32 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that Carter’s, Inc. will post 6.67 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 11th. This is an increase from Carter’s’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.90%. Carter’s’s dividend payout ratio is 31.80%.

In related news, EVP Julie D’emilio sold 4,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $92.78, for a total value of $371,120.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard F. Westenberger sold 6,185 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $98.44, for a total transaction of $608,851.40. The disclosure for this sale can be found here. Insiders sold 12,660 shares of company stock worth $1,218,660 over the last 90 days. 3.30% of the stock is currently owned by corporate insiders.

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About Carter’s

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, Child of Mine, Just One You, Precious Firsts, Simple Joys, OshKosh, Skip Hop, and other brands. The company operates through three segments: U.S. Retail, U.S. Wholesale, and International.

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Institutional Ownership by Quarter for Carter`s (NYSE:CRI)

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