Carter’s, Inc. (NYSE:CRI) Shares Sold by American International Group Inc.

Posted by Defense World Staff on Jun 4th, 2023

American International Group Inc. lowered its position in shares of Carter’s, Inc. (NYSE:CRI – Get Rating) by 3.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 59,427 shares of the textile maker’s stock after selling 2,102 shares during the quarter. American International Group Inc. owned about 0.16% of Carter’s worth $4,434,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRI. Parkside Financial Bank & Trust raised its stake in shares of Carter’s by 159.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 415 shares of the textile maker’s stock valued at $38,000 after buying an additional 255 shares during the last quarter. Covestor Ltd increased its stake in shares of Carter’s by 129.7% in the 1st quarter. Covestor Ltd now owns 627 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 354 shares in the last quarter. Ronald Blue Trust Inc. increased its stake in shares of Carter’s by 71.4% in the 4th quarter. Ronald Blue Trust Inc. now owns 696 shares of the textile maker’s stock valued at $45,000 after purchasing an additional 290 shares in the last quarter. Laffer Tengler Investments acquired a new stake in Carter’s in the 4th quarter worth about $60,000. Finally, Captrust Financial Advisors boosted its holdings in Carter’s by 94.8% in the 2nd quarter. Captrust Financial Advisors now owns 1,042 shares of the textile maker’s stock worth $73,000 after buying an additional 507 shares during the last quarter. Institutional investors and hedge funds own 99.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. StockNews.com assumed coverage on Carter’s in a report on Thursday, May 18th. They set a “hold” rating on the stock. TheStreet cut Carter’s from a “b-” rating to a “c+” rating in a report on Friday, May 19th. UBS Group decreased their price objective on Carter’s from $74.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, March 29th. Finally, Citigroup decreased their price objective on Carter’s from $62.00 to $60.00 in a report on Tuesday, May 2nd.

Carter’s Stock Performance

NYSE:CRI opened at $63.27 on Friday. The firm has a market capitalization of $2.38 billion, a PE ratio of 11.18 and a beta of 1.22. The business’s fifty day moving average price is $67.61 and its 200 day moving average price is $72.81. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.54 and a quick ratio of 1.04. Carter’s, Inc. has a 12 month low of $60.65 and a 12 month high of $86.76.

Carter’s (NYSE:CRI – Get Rating) last released its quarterly earnings data on Friday, April 28th. The textile maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.46. Carter’s had a net margin of 6.97% and a return on equity of 30.11%. The company had revenue of $695.80 million during the quarter, compared to the consensus estimate of $648.58 million. During the same quarter in the prior year, the firm posted $1.66 earnings per share. Carter’s’s revenue for the quarter was down 10.9% on a year-over-year basis. On average, sell-side analysts anticipate that Carter’s, Inc. will post 5.97 earnings per share for the current fiscal year.

Carter’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Tuesday, May 30th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $3.00 annualized dividend and a dividend yield of 4.74%. Carter’s’s dividend payout ratio (DPR) is 53.00%.

Carter’s Profile

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Carter’s, Inc engages in the marketing of apparel for babies and young children. It operates through the following segments: U.S. Retail, U.S. Wholesale, and International. The U.S. retail segment consists of sales of products in retail and online stores. The U.S. Wholesale segment includes sales in the United States of products to wholesale partners.