Victory Capital Management Inc. Cuts Holdings in Carter’s, Inc. (NYSE:CRI)

Victory Capital Management Inc. lowered its stake in shares of Carter’s, Inc. (NYSE:CRI) by 55.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,904 shares of the textile maker’s stock after selling 87,164 shares during the period. Victory Capital Management Inc.’s holdings in Carter’s were worth $3,842,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CRI. Jones Financial Companies Lllp increased its stake in shares of Carter’s by 114.4% during the fourth quarter. Jones Financial Companies Lllp now owns 506 shares of the textile maker’s stock worth $27,000 after purchasing an additional 270 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Carter’s by 221.2% during the third quarter. Venturi Wealth Management LLC now owns 726 shares of the textile maker’s stock worth $47,000 after purchasing an additional 500 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Carter’s during the third quarter worth about $74,000. GAMMA Investing LLC increased its stake in shares of Carter’s by 258.0% during the fourth quarter. GAMMA Investing LLC now owns 1,450 shares of the textile maker’s stock worth $79,000 after purchasing an additional 1,045 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in shares of Carter’s by 8,394.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,614 shares of the textile maker’s stock worth $87,000 after purchasing an additional 1,595 shares in the last quarter.

Carter’s Stock Performance

CRI opened at $39.81 on Friday. The firm has a market capitalization of $1.43 billion, a PE ratio of 6.32, a PEG ratio of 3.37 and a beta of 1.24. Carter’s, Inc. has a twelve month low of $39.25 and a twelve month high of $86.24. The firm’s 50-day moving average price is $49.65 and its 200 day moving average price is $56.28. The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60.

Carter’s (NYSE:CRI) last posted its earnings results on Tuesday, February 25th. The textile maker reported $2.39 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.52. The company had revenue of $859.70 million for the quarter, compared to analyst estimates of $835.82 million. Carter’s had a net margin of 8.11% and a return on equity of 27.15%. Carter’s’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $2.76 EPS. As a group, sell-side analysts expect that Carter’s, Inc. will post 5.15 EPS for the current fiscal year.

Carter’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a $0.80 dividend. The ex-dividend date is Monday, March 10th. This represents a $3.20 annualized dividend and a yield of 8.04%. Carter’s’s payout ratio is 62.62%.

Analyst Upgrades and Downgrades

CRI has been the topic of a number of recent research reports. UBS Group lowered their price target on shares of Carter’s from $57.00 to $49.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their price target on shares of Carter’s from $65.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Citigroup lowered their price target on shares of Carter’s from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.00.

Carter’s Profile

Carter’s, Inc engages in the business of brand marketing of young children’s apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.