Carter’s (NYSE:CRI) Shares Gap Up – Here’s What Happened

Carter’s, Inc. (NYSE:CRI) shares gapped up prior to trading on Tuesday . The stock had previously closed at $52.68, but opened at $54.13. Carter’s shares last traded at $54.26, with a volume of 82,072 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CRI shares. Citigroup upgraded shares of Carter’s from a “sell” rating to a “neutral” rating and set a $50.00 price target on the stock in a research note on Tuesday. Bank of America cut their target price on shares of Carter’s from $65.00 to $54.00 and set an “underperform” rating for the company in a research report on Monday, July 29th. Finally, Wells Fargo & Company cut their price objective on shares of Carter’s from $72.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, Carter’s has an average rating of “Hold” and a consensus price target of $67.67.

Carter’s Stock Down 0.3 %

The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 3.08 and a beta of 1.24. The firm’s fifty day moving average is $63.46 and its 200-day moving average is $64.30. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 0.96.

Carter’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date of this dividend was Tuesday, August 27th. Carter’s’s dividend payout ratio is presently 50.79%.

Hedge Funds Weigh In On Carter’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of Carter’s by 112.0% during the third quarter. GAMMA Investing LLC now owns 405 shares of the textile maker’s stock valued at $26,000 after acquiring an additional 214 shares during the period. Capital Performance Advisors LLP acquired a new stake in Carter’s during the 3rd quarter valued at $28,000. Gladius Capital Management LP bought a new position in Carter’s during the 2nd quarter worth $30,000. CWM LLC increased its position in shares of Carter’s by 431.3% in the second quarter. CWM LLC now owns 595 shares of the textile maker’s stock worth $37,000 after purchasing an additional 483 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in shares of Carter’s by 221.2% during the third quarter. Venturi Wealth Management LLC now owns 726 shares of the textile maker’s stock valued at $47,000 after purchasing an additional 500 shares in the last quarter.

Carter’s Company Profile

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.