Easterly Investment Partners LLC Reduces Position in Carter’s, Inc. (NYSE:CRI)

Easterly Investment Partners LLC cut its stake in shares of Carter’s, Inc. (NYSE:CRI) by 15.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,743 shares of the textile maker’s stock after selling 4,106 shares during the quarter. Easterly Investment Partners LLC owned about 0.06% of Carter’s worth $1,841,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Quest Partners LLC purchased a new stake in Carter’s in the fourth quarter valued at $291,000. Pacer Advisors Inc. boosted its holdings in Carter’s by 59.3% in the fourth quarter. Pacer Advisors Inc. now owns 632,671 shares of the textile maker’s stock valued at $47,381,000 after purchasing an additional 235,431 shares during the last quarter. Hussman Strategic Advisors Inc. boosted its holdings in Carter’s by 103.2% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the textile maker’s stock valued at $4,718,000 after purchasing an additional 32,000 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Carter’s by 2,145.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 34,580 shares of the textile maker’s stock valued at $2,928,000 after purchasing an additional 33,040 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Carter’s by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 933,576 shares of the textile maker’s stock valued at $69,916,000 after purchasing an additional 18,008 shares during the last quarter.

Carter’s Price Performance

Shares of CRI traded down $1.18 during mid-day trading on Wednesday, hitting $60.20. 279,612 shares of the company were exchanged, compared to its average volume of 785,197. Carter’s, Inc. has a 1-year low of $59.94 and a 1-year high of $88.03. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.30 and a current ratio of 2.43. The company has a 50 day moving average of $66.08 and a 200-day moving average of $73.71. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 3.08 and a beta of 1.22.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Friday, April 26th. The textile maker reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.33. Carter’s had a net margin of 8.06% and a return on equity of 28.55%. The firm had revenue of $661.49 million during the quarter, compared to the consensus estimate of $633.05 million. Analysts expect that Carter’s, Inc. will post 6.3 EPS for the current fiscal year.

Carter’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 28th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $3.20 annualized dividend and a dividend yield of 5.32%. Carter’s’s dividend payout ratio (DPR) is presently 50.47%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CRI shares. Wells Fargo & Company lowered their target price on shares of Carter’s from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 24th. StockNews.com lowered shares of Carter’s from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, Citigroup lowered their target price on shares of Carter’s from $66.00 to $64.00 and set a “sell” rating on the stock in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.80.

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.