Carter’s, Inc. (CRI) Stake Decreased by Oppenheimer Asset Management Inc.

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Oppenheimer Asset Management Inc. decreased its holdings in Carter’s, Inc. (NYSE:CRI) by 55.6% in the third quarter, HoldingsChannel.com reports. The fund owned 7,567 shares of the textile maker’s stock after selling 9,479 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Carter’s were worth $746,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CRI. Alps Advisors Inc. boosted its stake in Carter’s by 26.6% during the third quarter. Alps Advisors Inc. now owns 5,202 shares of the textile maker’s stock valued at $513,000 after buying an additional 1,092 shares during the last quarter. Reinhart Partners Inc. boosted its stake in Carter’s by 12.2% during the third quarter. Reinhart Partners Inc. now owns 34,395 shares of the textile maker’s stock valued at $3,391,000 after buying an additional 3,740 shares during the last quarter. Palo Capital Inc. boosted its stake in Carter’s by 5.0% during the third quarter. Palo Capital Inc. now owns 21,516 shares of the textile maker’s stock valued at $2,121,000 after buying an additional 1,027 shares during the last quarter. First Trust Advisors LP boosted its stake in Carter’s by 8.0% during the third quarter. First Trust Advisors LP now owns 50,693 shares of the textile maker’s stock valued at $4,998,000 after buying an additional 3,766 shares during the last quarter. Finally, Oakbrook Investments LLC boosted its stake in Carter’s by 31.7% during the third quarter. Oakbrook Investments LLC now owns 6,550 shares of the textile maker’s stock valued at $646,000 after buying an additional 1,575 shares during the last quarter. 94.81% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on CRI. Cowen set a $95.00 price target on Carter’s and gave the company a “hold” rating in a research note on Thursday, October 18th. Zacks Investment Research lowered Carter’s from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. B. Riley began coverage on Carter’s in a research note on Tuesday, October 30th. They set a “market perform” rating and a $104.00 price target for the company. TheStreet lowered Carter’s from a “b” rating to a “c+” rating in a research note on Thursday, October 25th. Finally, ValuEngine lowered Carter’s from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Carter’s presently has an average rating of “Hold” and an average target price of $113.30.

In related news, Director David Pulver acquired 7,500 shares of the stock in a transaction dated Thursday, September 6th. The stock was acquired at an average cost of $98.55 per share, with a total value of $739,125.00. Following the purchase, the director now directly owns 63,517 shares of the company’s stock, valued at $6,259,600.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Michael Dennis Casey sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $97.76, for a total value of $2,444,000.00. The disclosure for this sale can be found here. Insiders sold a total of 55,000 shares of company stock valued at $5,371,000 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Shares of Carter’s stock opened at $95.17 on Wednesday. The company has a market cap of $4.44 billion, a P/E ratio of 16.52, a PEG ratio of 1.96 and a beta of 0.57. Carter’s, Inc. has a 12 month low of $88.98 and a 12 month high of $129.00. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.67 and a quick ratio of 1.49.

Carter’s (NYSE:CRI) last posted its quarterly earnings data on Thursday, October 25th. The textile maker reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.12). The company had revenue of $923.91 million during the quarter, compared to the consensus estimate of $940.87 million. Carter’s had a net margin of 8.44% and a return on equity of 33.05%. Research analysts predict that Carter’s, Inc. will post 6.04 earnings per share for the current year.

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Carter’s Company 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.

Further Reading: Cost of Capital

Want to see what other hedge funds are holding CRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carter’s, Inc. (NYSE:CRI).

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

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