Carter’s, Inc. (NYSE:CRI) recently saw a significant increase in its stake from Russell Investments Group Ltd., according to a disclosure filed with the Securities and Exchange Commission. The investment firm boosted its position in the textile maker by 227.2% during the first quarter of this year, acquiring an additional 70,813 shares and bringing its total holdings to 101,978 shares.
As of its most recent SEC filing, Russell Investments Group Ltd. owned roughly 0.27% of Carter’s, with a value estimated at $7,334,000. This substantial increase in stake demonstrates the investment firm’s confidence in Carter’s as a valuable asset.
In addition to this noteworthy development, Carter’s recently released its quarterly earnings data for the period ended July 28th. They reported earnings per share (EPS) of $0.64 for the quarter, surpassing analysts’ consensus estimates by $0.13. This positive performance showcases Carter’s ability to outperform expectations and generate strong financial results.
The company also maintained a net margin of 6.77% and a return on equity (ROE) of 27.00%, indicating efficient management practices and a healthy financial position. However, it is important to note that Carter’s experienced a decline in revenue during this period compared to the same quarter last year, with figures showing a decrease of 14.3%. Despite this setback, the company continues to navigate challenging market conditions effectively.
Looking ahead, analysts predict that Carter’s will post earnings per share of approximately 5.81 for the current fiscal year. The company has consistently demonstrated resilience and adaptability in its operations, making it well-positioned for future growth.
Investors and market observers alike are keeping a close eye on Carter’s as it continues to demonstrate its ability to thrive amidst changing industry dynamics and consumer preferences.
For more detailed insights into Carter’s financial performance and prospects, investors are encouraged to refer to the latest research report on the company.
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Fluctuating Stakeholdings and Analyst Insights: Carter’s, Inc. Faces Investor Scrutiny Amidst Market Volatility
August 20, 2023 – Carter’s, Inc., a leading textile maker, has recently seen fluctuations in its stakeholding by several hedge funds. Zurcher Kantonalbank Zurich Cantonalbank increased its stake by 12.9% during the first quarter of this year, acquiring an additional 687 shares and bringing its total ownership to 6,010 shares valued at $432,000. Similarly, Wilbanks Smith & Thomas Asset Management LLC saw a 13.5% increase in their stake during the same period, adding 500 shares worth $302,000 to their portfolio.
Hussman Strategic Advisors Inc., a prominent investment firm, took an even more bullish approach by raising their holdings in Carter’s by a staggering 100%. This move resulted in the acquisition of an additional 15,500 shares valued at $2,230,000, taking their total ownership to 31,000 shares. Lmcg Investments LLC also showed a modest boost of 2.2% in their position with Carter’s during the first quarter by adding an extra 182 shares valued at $621,000.
Notably, Royce & Associates LP significantly increased their position in Carter’s by 20.8% during the first quarter. The firm acquired an additional impressive amount of shares – a substantial increase of 28,250 – taking their ownership to an overall total of 163,850 shares with a market value of $11,784- million.
Analysts have been actively monitoring these developments and providing valuable insights through various research reports. Wedbush analysts recently revalidated Carter’s as “neutral” with a target price set at $72.00 per share in August this year. Citigroup professionals also expressed caution regarding Carter’s performance and raised concerns about the stock having potentially reached overvaluation levels previously set at $60 but adjusted afterward to $63 per share.
In May this year TheStreet also downgraded Carter’s rating from a “b-” to a “c+”. More recently, StockNews.com initiated coverage on the company and recommended a “hold” position. Overall, the consensus rating according to Bloomberg.com stands at “Hold,” with analysts setting an average target price of $71.00 per share.
In another development, SVP Jill Wilson sold 2,000 shares of Carter’s stock on August 4th at an average price of $74.88 per share, totaling $149,760 in transaction value. Following this sale, Wilson now holds 27,085 shares in the company worth approximately $2,028,124.80.
Carter’s stock opened at $71.52 on Friday. The company currently holds a market capitalization of $2.66 billion with a PE ratio of 13.32 and a beta of 1.27. Furthermore, its 50-day simple moving average is recorded at $72.31 while its 200-day simple moving average stands at $71.16.The firm boasts commendable liquidity ratios as well – a quick ratio of 0.70 and current ratio of 2.02.
With its stock hitting a year-low of $60.65 and reaching a high mark of $86.76 within the last year, Carter’s Inc.’s performance is anticipated to be closely watched by investors going forward for further signs of stabilization amidst ongoing market volatility
