Carter’s Target of Unusually High Options Trading (CRI)

Carter’s, Inc. (NYSE:CRI) was the target of unusually large options trading on Thursday. Stock investors purchased 3,180 put options on the company. This is an increase of 1,697% compared to the average daily volume of 177 put options.

A number of brokerages have recently issued reports on CRI. Cowen set a $95.00 target price on Carter’s and gave the stock a “hold” rating in a research note on Thursday. Zacks Investment Research downgraded Carter’s from a “buy” rating to a “hold” rating in a research note on Wednesday, September 26th. Finally, ValuEngine downgraded Carter’s from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Carter’s has a consensus rating of “Buy” and a consensus price target of $120.70.

In other news, Director Jevin Eagle sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $109.10, for a total transaction of $545,500.00. Following the completion of the transaction, the director now directly owns 6,297 shares of the company’s stock, valued at approximately $687,002.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David Pulver bought 7,500 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were acquired at an average cost of $98.55 per share, with a total value of $739,125.00. Following the completion of the purchase, the director now owns 63,517 shares in the company, valued at approximately $6,259,600.35. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 13,000 shares of company stock valued at $1,309,110. Company insiders own 3.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRI. Vaughan Nelson Investment Management L.P. purchased a new position in Carter’s in the 2nd quarter valued at approximately $54,012,000. Marshall Wace LLP purchased a new position in Carter’s in the 2nd quarter valued at approximately $22,183,000. Waddell & Reed Financial Inc. purchased a new position in Carter’s in the 2nd quarter valued at approximately $14,145,000. Standard Life Aberdeen plc purchased a new position in Carter’s in the 2nd quarter valued at approximately $10,243,000. Finally, OppenheimerFunds Inc. increased its stake in Carter’s by 91.3% in the 2nd quarter. OppenheimerFunds Inc. now owns 152,988 shares of the textile maker’s stock valued at $16,582,000 after purchasing an additional 72,999 shares in the last quarter. 95.80% of the stock is owned by hedge funds and other institutional investors.

NYSE CRI opened at $94.36 on Friday. Carter’s has a 1-year low of $92.29 and a 1-year high of $129.00. The company has a market capitalization of $4.51 billion, a P/E ratio of 16.38, a PEG ratio of 1.64 and a beta of 0.50. 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 (NYSE:CRI) last released its quarterly earnings data on Thursday, July 26th. The textile maker reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.22. Carter’s had a return on equity of 34.29% and a net margin of 8.69%. The firm had revenue of $696.20 million during the quarter, compared to the consensus estimate of $684.04 million. During the same period last year, the business posted $0.79 EPS. Carter’s’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts expect that Carter’s will post 6.44 EPS for the current fiscal year.

Carter’s Company Profile

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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