Michael Dennis Casey Sells 20,700 Shares of Carter’s Inc. (CRI) Stock
Carter’s Inc. (NYSE:CRI) Chairman Michael Dennis Casey sold 20,700 shares of the company’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $92.32, for a total value of $1,911,024.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Michael Dennis Casey also recently made the following trade(s):
- On Monday, November 21st, Michael Dennis Casey sold 20,700 shares of Carter’s stock. The stock was sold at an average price of $90.49, for a total value of $1,873,143.00.
- On Monday, November 14th, Michael Dennis Casey sold 20,700 shares of Carter’s stock. The stock was sold at an average price of $93.20, for a total value of $1,929,240.00.
Shares of Carter’s Inc. (NYSE:CRI) opened at 91.29 on Thursday. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 19.29 and a beta of 0.36. The firm has a 50-day moving average of $88.40 and a 200 day moving average of $97.34. Carter’s Inc. has a 12-month low of $83.44 and a 12-month high of $112.58.
Carter’s (NYSE:CRI) last issued its quarterly earnings results on Thursday, October 27th. The company reported $1.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by $0.06. Carter’s had a net margin of 7.78% and a return on equity of 30.07%. The business earned $901 million during the quarter, compared to analysts’ expectations of $901.99 million. During the same period in the prior year, the business earned $1.51 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts forecast that Carter’s Inc. will post $5.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Monday, November 21st will be given a dividend of $0.33 per share. This is a boost from Carter’s’s previous quarterly dividend of $0.22. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Thursday, November 17th. Carter’s’s payout ratio is 27.85%.
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A number of equities analysts have recently issued reports on the company. Monness Crespi & Hardt raised Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Monday, August 8th. FBR & Co reaffirmed a “buy” rating and set a $111.00 price target on shares of Carter’s in a research report on Friday, September 16th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $115.00 price target on shares of Carter’s in a research report on Friday, September 9th. Wells Fargo & Co. downgraded Carter’s from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $111.00 to $93.00 in a research report on Tuesday, September 27th. Finally, Zacks Investment Research downgraded Carter’s from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $108.70.
Several large investors have recently added to or reduced their stakes in the company. Aristotle Capital Boston LLC boosted its stake in Carter’s by 3.7% in the second quarter. Aristotle Capital Boston LLC now owns 105,762 shares of the company’s stock valued at $11,260,000 after buying an additional 3,731 shares during the period. Northeast Investment Management boosted its stake in Carter’s by 36.2% in the second quarter. Northeast Investment Management now owns 41,290 shares of the company’s stock valued at $4,396,000 after buying an additional 10,966 shares during the period. Polaris Capital Management LLC boosted its stake in Carter’s by 0.4% in the second quarter. Polaris Capital Management LLC now owns 202,451 shares of the company’s stock valued at $21,555,000 after buying an additional 900 shares during the period. Emerald Acquisition Ltd. purchased a new stake in Carter’s during the second quarter valued at about $29,457,000. Finally, Genesee Valley Trust Co. purchased a new stake in Carter’s during the second quarter valued at about $223,000. 95.00% of the stock is owned by institutional investors and hedge funds.
Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International. Its international segment includes Company-operated retail stores, wholesale and online operations in addition to royalty income from its international licensees.
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