April 19, 2023 – Leeward Investments LLC MA has announced its decision to trim its stake in Carter’s Inc. (NYSE: CRI) by 2.0% during the fourth quarter, according to the most recent 13F filing with the US Securities and Exchange Commission (SEC). The investment firm owned a total of 163,752 shares of Carter’s stock after selling 3,419 shares during the said period. The trimmed stake is worth $12,218,000 as per Leeward Investment’s most recent SEC filing.
Carter’s Inc., a well-established market player engaged in marketing apparel for infants and young children. It operates through three segments: U.S. Retail, U.S. Wholesale, and International. Among these segments, the U.S. retail segment accounts for sales of products in retail and online stores; while the U.S. wholesale segment encompasses sales in the United States of products to wholesale partners.
The textile maker reported $2.29 earnings per share (EPS) for the last quarter on February 24th this year that exceeded consensus estimates by $0.55 per share or 31%. This exemplary performance highlights Carter’s continued growth trajectory that indicates remarkable stability in revenue streams amid dynamic market conditions.
Carter’s has been able to sustain its position as an industry leader due to its keen focus on customer needs and innovation-driven product development strategies that cater to changing buying patterns among consumers worldwide.
Industry analysts expect Carter’s’ earnings per share for the current year to reach around 5.97% on average, highlighting consistent growth potential for future fiscal periods.
Overall, these developments underline significant investor interest in Carter’s Textile Co., which enjoys strong financial fundamentals coupled with robust revenue streams that institutional investors see table-gaining returns from enhanced portfolio diversification efforts.
Institutional Investors Make Moves on Carter’s Inc. as it Continues to Perform Well
CRI: A Look at Carter’s Inc. and Its Institutional Investors
Carter’s, Inc. has been making headlines lately as a result of its institutional investors increasing or decreasing their stakes in the company. Fuller & Thaler Asset Management, Royce & Associates LP, Goldman Sachs Group, LSV Asset Management, and Boston Trust Walden Corp are among the firms that have made significant moves related to their stakeholdings in Carter’s.
Fuller & Thaler Asset Management boosted its stake by 17,623% in Q1 2023 and now owns 450,695 shares in Carter’s worth $41.5 million after acquiring an additional 448,152 shares in the last quarter. Meanwhile, Royce & Associates LP increased its holdings in shares of Carter’s by 173.1% during the third quarter of this year and now owns 445,045 shares valued at $29.2 million after purchasing an extra 282,095 shares within the quarter.
Goldman Sachs Group also upped its holdings by 161.5% during Q2 2023 and currently holds 434,571 stocks of the textile firm worth $30.6 million after augmenting its position with an additional 268,415 shares during the period mentioned above. Additionally, LSV Asset Management enhanced its stakes by approximately 20.7% during Q3 and currently has over a million shares in Carter’s worth $80.1 million after purchasing another batch of approximately 209K stocks within that same period.
Lastly, Boston Trust Walden Corp augmented its stakeholdings by about a quarter (24.1%) during Q4 this year to own a total of almost one million stocks (965k) which is equal to around $72 million as it purchased another set of about 187K shares.
All these moves come as no surprise considering how well Carter’s has been performing lately.The NYSE CRI opened at $70.14 on April 19, 2023, showing no signs of slowing down.
Carter’s Inc. deals in the marketing of apparel for babies and young children through its U.S. Retail, U.S. Wholesale, and International segments. The US retail division entails sales both in stores and online, while the US wholesale segment is made up of sales of products to partners within America’s borders.
Carter’s has also recently declared a quarterly dividend payment. As at March 17th, which was when it was paid out, shareholders of record as at March 7th received a $0.75 per share payout which represents a $3.00 annualized dividend. The company’s current dividend payout ratio stands at an estimated 47.10%.
Several research reports have been published on Carter’s stock (CRI) lately by different analysts including Wedbush which downgraded its rating to neutral from outperform after setting $78 target price for the firm back in January this year while StockNews.com began covering CRI with a “hold” rating attached to it as per its report on Thursday, March 16th.
According to data obtained from Bloomberg, two analysts who have rated Carter’s shares gave it a sell rating while three others assigned the firm a hold rating which results in Carter’s having an overall “Hold” market consensus rating with an approximate average price target set at $79.43 presently.