Carter’s, Inc. (NYSE:CRI) announced a quarterly dividend on Friday, August 17th, Wall Street Journal reports. Shareholders of record on Monday, August 27th will be paid a dividend of 0.45 per share by the textile maker on Friday, September 7th. This represents a $1.80 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, August 24th.
Carter’s has raised its dividend by an average of 24.9% per year over the last three years and has raised its dividend every year for the last 4 years. Carter’s has a dividend payout ratio of 27.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Carter’s to earn $7.05 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 25.5%.
Shares of CRI opened at $109.15 on Friday. The company has a quick ratio of 1.24, a current ratio of 3.36 and a debt-to-equity ratio of 0.84. Carter’s has a 1 year low of $83.84 and a 1 year high of $129.00. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 1.82 and a beta of 0.46.
Carter’s (NYSE:CRI) last announced its quarterly earnings data on Thursday, July 26th. The textile maker reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.22. Carter’s had a net margin of 8.69% and a return on equity of 34.29%. The business had revenue of $696.20 million during the quarter, compared to analyst estimates of $684.04 million. During the same period last year, the firm posted $0.79 EPS. The company’s revenue was up .6% on a year-over-year basis. analysts forecast that Carter’s will post 6.45 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on CRI shares. SunTrust Banks reaffirmed a “hold” rating and set a $111.00 price objective on shares of Carter’s in a report on Friday, April 27th. They noted that the move was a valuation call. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $130.00 price objective (down from $137.00) on shares of Carter’s in a report on Monday, April 30th. ValuEngine lowered shares of Carter’s from a “buy” rating to a “hold” rating in a report on Wednesday, June 13th. Cowen set a $109.00 price objective on shares of Carter’s and gave the company a “hold” rating in a report on Tuesday, April 24th. Finally, Zacks Investment Research lowered shares of Carter’s from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $120.54.
In related news, EVP Kevin Doyle Corning sold 3,491 shares of the firm’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $108.51, for a total value of $378,808.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Pulver bought 4,500 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The stock was acquired at an average cost of $103.33 per share, with a total value of $464,985.00. Following the completion of the acquisition, the director now owns 58,517 shares of the company’s stock, valued at approximately $6,046,561.61. The disclosure for this purchase can be found here. Company insiders own 3.30% of the company’s stock.
Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, Child of Mine, Just One You, Precious Firsts, Simple Joys, OshKosh, Skip Hop, and other brands. The company operates through three segments: U.S. Retail, U.S. Wholesale, and International.
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