Highbridge Capital Management LLC Grows Holdings in Carter’s, Inc. (NYSE:CRI)

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Highbridge Capital Management LLC boosted its position in shares of Carter’s, Inc. (NYSE:CRI) by 464.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 12,378 shares of the textile maker’s stock after acquiring an additional 15,778 shares during the quarter. Highbridge Capital Management LLC’s holdings in Carter’s were worth $1,288,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Millennium Management LLC increased its stake in Carter’s by 156.5% during the 4th quarter. Millennium Management LLC now owns 869,178 shares of the textile maker’s stock worth $102,120,000 after buying an additional 530,306 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Carter’s in the first quarter valued at approximately $25,848,000. Prudential Financial Inc. lifted its holdings in Carter’s by 126.2% in the first quarter. Prudential Financial Inc. now owns 435,376 shares of the textile maker’s stock valued at $45,323,000 after acquiring an additional 242,920 shares during the last quarter. Mackay Shields LLC acquired a new position in Carter’s during the first quarter worth $22,042,000. Finally, BlackRock Inc. lifted its stake in Carter’s by 5.3% during the first quarter. BlackRock Inc. now owns 4,182,384 shares of the textile maker’s stock worth $435,384,000 after purchasing an additional 209,875 shares in the last quarter. 96.85% of the stock is owned by institutional investors.

In other news, Director David Pulver bought 3,000 shares of Carter’s stock in a transaction on Tuesday, May 1st. The stock was purchased at an average cost of $100.32 per share, with a total value of $300,960.00. Following the purchase, the director now directly owns 55,664 shares of the company’s stock, valued at approximately $5,584,212.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin Doyle Corning sold 3,491 shares of the business’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $108.51, for a total transaction of $378,808.41. The disclosure for this sale can be found here. 3.30% of the stock is owned by corporate insiders.

A number of analysts have recently weighed in on CRI shares. UBS Group assumed coverage on Carter’s in a research report on Thursday, June 21st. They set a “neutral” rating and a $114.00 price objective on the stock. Zacks Investment Research lowered Carter’s from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. ValuEngine downgraded shares of Carter’s from a “buy” rating to a “hold” rating in a research note on Wednesday, June 13th. Cowen set a $109.00 price objective on shares of Carter’s and gave the company a “hold” rating in a research note on Tuesday, April 24th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and set a $130.00 target price (down previously from $137.00) on shares of Carter’s in a research note on Monday, April 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Carter’s presently has a consensus rating of “Hold” and an average price target of $120.92.

Carter’s opened at $108.39 on Friday, Marketbeat.com reports. The company has a current ratio of 4.14, a quick ratio of 2.02 and a debt-to-equity ratio of 0.72. The firm has a market cap of $5.19 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 1.88 and a beta of 0.42. Carter’s, Inc. has a twelve month low of $83.84 and a twelve month high of $129.00.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Thursday, April 26th. The textile maker reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.11. The firm had revenue of $755.79 million for the quarter, compared to the consensus estimate of $744.23 million. Carter’s had a net margin of 8.72% and a return on equity of 35.09%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 EPS. sell-side analysts forecast that Carter’s, Inc. will post 6.41 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Tuesday, May 29th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Friday, May 25th. Carter’s’s dividend payout ratio is presently 31.25%.

Carter’s Profile

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, Child of Mine, Just One You, Precious Firsts, Simple Joys, OshKosh, Skip Hop, and other brands. The company operates through three segments: U.S. Retail, U.S. Wholesale, and International.

Institutional Ownership by Quarter for Carter`s (NYSE:CRI)

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