Geode Capital Management LLC Reduces Stock Position in Carter’s, Inc. (NYSE:CRI)

Geode Capital Management LLC trimmed its holdings in shares of Carter’s, Inc. (NYSE:CRI) by 0.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 600,584 shares of the textile maker’s stock after selling 2,769 shares during the period. Geode Capital Management LLC’s holdings in Carter’s were worth $39,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CRI. Dynamic Technology Lab Private Ltd purchased a new stake in Carter’s during the third quarter worth approximately $683,000. Hotchkis & Wiley Capital Management LLC lifted its position in Carter’s by 79.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 152,560 shares of the textile maker’s stock valued at $9,913,000 after acquiring an additional 67,460 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Carter’s by 48.6% during the third quarter. Harbor Capital Advisors Inc. now owns 81,435 shares of the textile maker’s stock worth $5,292,000 after purchasing an additional 26,650 shares during the last quarter. Empowered Funds LLC increased its position in shares of Carter’s by 10.4% during the third quarter. Empowered Funds LLC now owns 122,231 shares of the textile maker’s stock worth $7,943,000 after purchasing an additional 11,480 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Carter’s by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,171,810 shares of the textile maker’s stock valued at $76,144,000 after purchasing an additional 42,589 shares during the period.

Carter’s Stock Up 0.6 %

Carter’s stock opened at $55.51 on Wednesday. The stock’s 50 day moving average price is $56.17 and its 200 day moving average price is $61.31. Carter’s, Inc. has a 1-year low of $50.27 and a 1-year high of $88.03. The company has a market cap of $2.00 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 3.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 0.96.

Carter’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 25th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.76%. Carter’s’s dividend payout ratio (DPR) is presently 50.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company reduced their price objective on Carter’s from $72.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Citigroup raised Carter’s from a “sell” rating to a “neutral” rating and set a $50.00 price target on the stock in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $67.67.

About Carter’s

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.