Riverhead Capital Management LLC Lowers Stake in Carter’s, Inc. (CRI)

Riverhead Capital Management LLC Lowers Stake in Carter’s, Inc. (CRI)

Riverhead Capital Management LLC reduced its stake in Carter’s, Inc. (NYSE:CRI) by 94.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,700 shares of the company’s stock after selling 26,501 shares during the period. Riverhead Capital Management LLC’s holdings in Carter’s were worth $147,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. BlackRock Fund Advisors increased its position in Carter’s by 2.9% in the third quarter. BlackRock Fund Advisors now owns 1,855,589 shares of the company’s stock valued at $160,898,000 after buying an additional 53,119 shares during the period. Point72 Asset Management L.P. increased its position in shares of Carter’s by 1.7% in the second quarter. Point72 Asset Management L.P. now owns 695,091 shares of the company’s stock worth $74,006,000 after buying an additional 11,491 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Carter’s by 5.9% in the third quarter. Bank of New York Mellon Corp now owns 633,075 shares of the company’s stock worth $54,895,000 after buying an additional 35,072 shares during the last quarter. Fiera Capital Corp increased its position in shares of Carter’s by 1,417.3% in the second quarter. Fiera Capital Corp now owns 480,981 shares of the company’s stock worth $51,210,000 after buying an additional 449,281 shares during the last quarter. Finally, TimesSquare Capital Management LLC increased its position in shares of Carter’s by 39.9% in the third quarter. TimesSquare Capital Management LLC now owns 478,600 shares of the company’s stock worth $41,499,000 after buying an additional 136,400 shares during the last quarter. Institutional investors and hedge funds own 93.65% of the company’s stock.

Shares of Carter’s, Inc. (NYSE:CRI) traded down 4.14% during midday trading on Friday, hitting $82.17. 962,832 shares of the stock were exchanged. Carter’s, Inc. has a 12-month low of $81.88 and a 12-month high of $112.58. The company has a market cap of $4.06 billion, a PE ratio of 17.36 and a beta of 0.37. The firm has a 50-day moving average price of $87.84 and a 200-day moving average price of $93.18.

Carter’s (NYSE:CRI) last issued its earnings results on Thursday, October 27th. The company reported $1.61 EPS for the quarter, missing the Zacks’ 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 posted $1.51 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that Carter’s, Inc. will post $5.04 EPS for the current year.

A number of brokerages recently commented on CRI. Morgan Stanley began coverage on shares of Carter’s in a research note on Wednesday. They set an “overweight” rating and a $103.00 target price for the company. Zacks Investment Research downgraded shares of Carter’s from a “hold” rating to a “sell” rating in a research note on Monday, January 23rd. Oppenheimer Holdings, Inc. set a $105.00 target price on shares of Carter’s and gave the stock a “buy” rating in a research note on Saturday, January 21st. Citigroup Inc. upgraded shares of Carter’s from a “neutral” rating to a “buy” rating in a research note on Monday, December 19th. Finally, FBR & Co reiterated an “outperform” rating and set a $111.00 target price on shares of Carter’s in a research note on Tuesday, December 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $107.27.

In related news, Chairman Michael Dennis Casey sold 20,700 shares of Carter’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $90.49, for a total transaction of $1,873,143.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 62,100 shares of company stock worth $5,713,407 in the last ninety days. 3.10% of the stock is currently owned by insiders.

Carter’s Company Profile

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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