Carter’s (NYSE:CRI) Upgraded at Citigroup

Citigroup upgraded shares of Carter’s (NYSE:CRI) from a sell rating to a neutral rating in a research report sent to investors on Tuesday morning, Marketbeat reports. Citigroup currently has $50.00 target price on the textile maker’s stock.

Other research analysts have also issued reports about the company. Bank of America lowered their price objective on Carter’s from $65.00 to $54.00 and set an “underperform” rating for the company in a research report on Monday, July 29th. Wells Fargo & Company decreased their target price on shares of Carter’s from $72.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Carter’s presently has an average rating of “Hold” and an average target price of $67.67.

Carter’s Price Performance

CRI traded down $0.68 during midday trading on Tuesday, hitting $52.61. 156,338 shares of the company traded hands, compared to its average volume of 972,399. The business has a 50 day simple moving average of $62.63 and a two-hundred day simple moving average of $64.02. Carter’s has a 52-week low of $50.27 and a 52-week high of $88.03. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 3.29 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60.

Carter’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 25th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 6.08%. Carter’s’s payout ratio is 50.79%.

Hedge Funds Weigh In On Carter’s

A number of hedge funds have recently modified their holdings of CRI. Hotchkis & Wiley Capital Management LLC raised its position in Carter’s by 79.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 152,560 shares of the textile maker’s stock worth $9,913,000 after buying an additional 67,460 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Carter’s during the third quarter worth about $600,000. ARGA Investment Management LP grew its holdings in shares of Carter’s by 46.2% in the 3rd quarter. ARGA Investment Management LP now owns 15,530 shares of the textile maker’s stock worth $1,009,000 after acquiring an additional 4,910 shares during the period. Verition Fund Management LLC grew its holdings in shares of Carter’s by 70.4% during the third quarter. Verition Fund Management LLC now owns 300,661 shares of the textile maker’s stock worth $19,537,000 after buying an additional 124,191 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Carter’s during the 3rd quarter worth $231,000.

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.