Insider Selling: Carter’s, Inc. (NYSE:CRI) Director Sells 17,500 Shares of Stock

Carter’s, Inc. (NYSE:CRI) Director Thomas E. Whiddon sold 17,500 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $90.35, for a total value of $1,581,125.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of Carter’s, Inc. (CRI) traded down 1.08% during midday trading on Friday, hitting $84.28. The stock had a trading volume of 492,932 shares. The firm’s 50-day moving average price is $87.53 and its 200-day moving average price is $87.39. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 16.53 and a beta of 0.32. Carter’s, Inc. has a 1-year low of $77.94 and a 1-year high of $100.60.

Carter’s (NYSE:CRI) last released its earnings results on Thursday, July 27th. The textile maker reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. Carter’s had a return on equity of 33.18% and a net margin of 7.74%. The company had revenue of $692.10 million during the quarter, compared to analyst estimates of $681.08 million. During the same quarter in the previous year, the company posted $0.72 EPS. Carter’s’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts forecast that Carter’s, Inc. will post $5.61 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Tuesday, August 29th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Friday, August 25th. Carter’s’s payout ratio is 29.08%.

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Several equities analysts have commented on CRI shares. Zacks Investment Research downgraded Carter’s from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Carter’s in a research report on Wednesday, June 21st. Stifel Nicolaus increased their target price on Carter’s from $80.00 to $84.00 and gave the company a “hold” rating in a research report on Thursday, April 27th. BidaskClub upgraded Carter’s from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, FBR & Co set a $111.00 target price on Carter’s and gave the company a “buy” rating in a research report on Friday, June 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $100.40.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Carter’s by 1.8% in the second quarter. BlackRock Inc. now owns 4,110,338 shares of the textile maker’s stock worth $365,614,000 after buying an additional 71,765 shares during the last quarter. Vanguard Group Inc. raised its position in Carter’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 3,653,088 shares of the textile maker’s stock worth $328,048,000 after buying an additional 99,586 shares during the last quarter. Janus Henderson Group PLC raised its position in Carter’s by 1,216.2% in the second quarter. Janus Henderson Group PLC now owns 3,399,870 shares of the textile maker’s stock worth $302,418,000 after buying an additional 3,141,568 shares during the last quarter. Lazard Asset Management LLC raised its position in Carter’s by 1,428.4% in the second quarter. Lazard Asset Management LLC now owns 2,289,358 shares of the textile maker’s stock worth $203,638,000 after buying an additional 2,139,567 shares during the last quarter. Finally, Valinor Management L.P. raised its position in Carter’s by 1.1% in the first quarter. Valinor Management L.P. now owns 1,414,121 shares of the textile maker’s stock worth $126,988,000 after buying an additional 15,200 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

About Carter’s

Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.

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