Industrial Alliance Investment Management Inc. Buys 193 Shares of Carter’s, Inc. (NYSE:CRI)

Posted by Defense World Staff on Aug 29th, 2023

Industrial Alliance Investment Management Inc. lifted its stake in Carter’s, Inc. (NYSE:CRI – Free Report) by 27.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 905 shares of the textile maker’s stock after acquiring an additional 193 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Carter’s were worth $65,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. acquired a new stake in Carter’s in the 1st quarter valued at approximately $30,000. Dark Forest Capital Management LP acquired a new stake in Carter’s in the 4th quarter valued at approximately $34,000. Coppell Advisory Solutions Corp. acquired a new stake in Carter’s in the 4th quarter valued at approximately $35,000. Benjamin Edwards Inc. grew its holdings in Carter’s by 140.4% in the 1st quarter. Benjamin Edwards Inc. now owns 512 shares of the textile maker’s stock valued at $37,000 after buying an additional 299 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in Carter’s by 159.4% in 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.

Carter’s Price Performance

Shares of NYSE:CRI opened at $70.08 on Tuesday. Carter’s, Inc. has a 1-year low of $60.65 and a 1-year high of $86.76. The firm has a market capitalization of $2.61 billion, a PE ratio of 13.05 and a beta of 1.27. The business’s 50 day moving average is $72.38 and its 200-day moving average is $70.58. The company has a current ratio of 2.02, a quick ratio of 0.70 and a debt-to-equity ratio of 0.64.

Carter’s (NYSE:CRI – Get Free Report) last posted its earnings results on Friday, July 28th. The textile maker reported $0.64 EPS for the quarter, topping the consensus estimate of $0.51 by $0.13. The business had revenue of $600.20 million during the quarter, compared to the consensus estimate of $604.68 million. Carter’s had a return on equity of 27.00% and a net margin of 6.77%. Carter’s’s revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the company earned $1.30 EPS. Sell-side analysts predict that Carter’s, Inc. will post 5.81 earnings per share for the current year.

Carter’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 30th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $3.00 annualized dividend and a dividend yield of 4.28%. Carter’s’s dividend payout ratio (DPR) is presently 55.87%.

Insider Buying and Selling

In related news, SVP Jill Wilson sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $74.88, for a total transaction of $149,760.00. Following the completion of the transaction, the senior vice president now owns 27,085 shares in the company, valued at approximately $2,028,124.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Carter’s news, SVP Jill Wilson sold 2,000 shares of Carter’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $74.88, for a total value of $149,760.00. Following the completion of the transaction, the senior vice president now owns 27,085 shares in the company, valued at approximately $2,028,124.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeff Jenkins sold 3,513 shares of Carter’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $69.15, for a total value of $242,923.95. Following the completion of the transaction, the executive vice president now owns 33,166 shares of the company’s stock, valued at approximately $2,293,428.90. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup raised their target price on Carter’s from $60.00 to $63.00 and gave the company a “sell” rating in a report on Friday, July 21st. StockNews.com assumed coverage on Carter’s in a report on Thursday, August 17th. They set a “hold” rating on the stock. TheStreet lowered Carter’s from a “b-” rating to a “c+” rating in a report on Friday, May 19th. Finally, Wedbush reissued a “neutral” rating and set a $72.00 price objective on shares of Carter’s in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.00.

Read Our Latest Stock Report on CRI

About Carter’s

(Free Report)

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. The company operates through three segments: U.S.