Sit Investment Associates Inc. Has $285,000 Stake in Carter’s, Inc. (CRI)

Sit Investment Associates Inc. continued to hold its stake in shares of Carter’s, Inc. (NYSE:CRI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,200 shares of the textile maker’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in Carter’s were worth $285,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Rockefeller Financial Services Inc. raised its stake in shares of Carter’s by 4.3% in the second quarter. Rockefeller Financial Services Inc. now owns 203,086 shares of the textile maker’s stock worth $18,064,000 after buying an additional 8,435 shares during the period. Louisiana State Employees Retirement System raised its position in Carter’s by 2.4% in the second quarter. Louisiana State Employees Retirement System now owns 12,600 shares of the textile maker’s stock worth $1,121,000 after buying an additional 300 shares during the period. LS Investment Advisors LLC raised its position in Carter’s by 18.1% in the second quarter. LS Investment Advisors LLC now owns 3,887 shares of the textile maker’s stock worth $346,000 after buying an additional 596 shares during the period. Reinhart Partners Inc. raised its position in Carter’s by 51.4% in the second quarter. Reinhart Partners Inc. now owns 29,040 shares of the textile maker’s stock worth $2,583,000 after buying an additional 9,860 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in Carter’s by 4.2% in the second quarter. Oregon Public Employees Retirement Fund now owns 18,820 shares of the textile maker’s stock worth $1,674,000 after buying an additional 760 shares during the period. 98.70% of the stock is owned by institutional investors and hedge funds.

Shares of Carter’s, Inc. (NYSE CRI) traded up 1.75% during mid-day trading on Friday, reaching $91.24. The company had a trading volume of 289,241 shares. Carter’s, Inc. has a 1-year low of $77.94 and a 1-year high of $103.51. The stock’s 50-day moving average price is $87.49 and its 200 day moving average price is $87.16. The company has a market capitalization of $4.36 billion, a PE ratio of 17.89 and a beta of 0.32.

Carter’s (NYSE:CRI) last issued its earnings results on Thursday, July 27th. The textile maker reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.09. The company had revenue of $692.10 million during the quarter, compared to analysts’ expectations of $681.08 million. Carter’s had a return on equity of 33.18% and a net margin of 7.74%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. Equities analysts expect that Carter’s, Inc. will post $5.61 EPS for the current year.

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A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Carter’s from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a report on Friday, April 28th. Oppenheimer Holdings, Inc. set a $105.00 target price on shares of Carter’s and gave the company a “buy” rating in a report on Wednesday, June 14th. Cowen and Company set a $92.00 target price on shares of Carter’s and gave the company a “hold” rating in a report on Thursday, July 27th. FBR & Co reissued a “buy” rating on shares of Carter’s in a report on Thursday, July 13th. Finally, CL King reissued a “hold” rating on shares of Carter’s in a report on Thursday, June 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $100.40.

In related news, Director David Pulver bought 1,000 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was bought at an average cost of $80.10 per share, for a total transaction of $80,100.00. Following the acquisition, the director now directly owns 54,331 shares in the company, valued at $4,351,913.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by corporate insiders.

About Carter’s

Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.