Wellington Management Group LLP Cuts Position in Carter’s, Inc. (NYSE:CRI)

Wellington Management Group LLP trimmed its holdings in shares of Carter’s, Inc. (NYSE:CRI) by 88.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 178,410 shares of the textile maker’s stock after selling 1,367,026 shares during the quarter. Wellington Management Group LLP’s holdings in Carter’s were worth $9,668,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. increased its position in shares of Carter’s by 155.0% during the 4th quarter. Pacer Advisors Inc. now owns 2,851,079 shares of the textile maker’s stock valued at $154,500,000 after purchasing an additional 1,732,857 shares during the last quarter. Vanguard Group Inc. raised its position in Carter’s by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 3,895,549 shares of the textile maker’s stock worth $211,100,000 after acquiring an additional 366,293 shares during the period. Allianz Asset Management GmbH raised its position in Carter’s by 40.5% in the fourth quarter. Allianz Asset Management GmbH now owns 591,246 shares of the textile maker’s stock worth $32,040,000 after acquiring an additional 170,528 shares during the period. American Century Companies Inc. boosted its stake in Carter’s by 15.4% in the fourth quarter. American Century Companies Inc. now owns 1,067,176 shares of the textile maker’s stock valued at $57,830,000 after acquiring an additional 142,514 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Carter’s by 165.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 209,868 shares of the textile maker’s stock worth $11,373,000 after purchasing an additional 130,930 shares during the last quarter.

Carter’s Trading Up 18.6 %

NYSE:CRI opened at $39.03 on Thursday. The company has a market cap of $1.41 billion, a P/E ratio of 6.20, a P/E/G ratio of 3.37 and a beta of 1.09. Carter’s, Inc. has a 1 year low of $32.12 and a 1 year high of $75.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 0.96. The stock’s fifty day moving average price is $43.99 and its two-hundred day moving average price is $52.37.

Carter’s (NYSE:CRI) last issued its earnings results on Tuesday, February 25th. The textile maker reported $2.39 EPS for the quarter, topping the consensus estimate of $1.87 by $0.52. Carter’s had a return on equity of 27.15% and a net margin of 8.11%. The business had revenue of $859.70 million during the quarter, compared to the consensus estimate of $835.82 million. During the same quarter last year, the company earned $2.76 EPS. The firm’s revenue was up .2% compared to the same quarter last year. As a group, analysts expect that Carter’s, Inc. will post 5.15 EPS for the current year.

Carter’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 8.20%. The ex-dividend date was Monday, March 10th. Carter’s’s dividend payout ratio (DPR) is presently 62.62%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CRI shares. UBS Group reduced their price objective on Carter’s from $57.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Citigroup cut their price target on Carter’s from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company lowered their price objective on Carter’s from $65.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, Carter’s has an average rating of “Hold” and a consensus target price of $49.00.

Carter’s Company 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.