Carter's Inc (NYSE:CRI), a leading apparel company, disclosed in a recent filing that Mark Hipp, a member of the company's board of directors, sold 1,875 shares of company stock. The transaction, which took place on March 6, 2024, amounted to a total of $153,260, with the shares being sold at a price of $81.7391 each.
The sale was reported in a regulatory filing with the Securities and Exchange Commission (SEC). Following the transaction, Mark Hipp still owns a total of 10,216 shares in Carter's Inc, indicating his continued investment in the company, despite the recent sale.
Investors often monitor insider transactions as they can provide insights into how the company's leadership views the stock's value and future performance. The sale by a director may be of particular interest, although it should be noted that insider transactions can be motivated by a variety of personal financial needs or strategic planning and not necessarily directly reflect on the company's current or future performance.
Carter's Inc, headquartered in Atlanta, Georgia, is well-known for its children's apparel and has a significant presence in the retail industry. Shareholders and potential investors in Carter's Inc can follow the company's filings and disclosures to stay informed about insider transactions and other significant corporate events.
InvestingPro Insights
As Carter's Inc (NYSE:CRI) navigates the retail landscape, current and potential investors may find value in the latest data and insights from InvestingPro. The company's market capitalization stands at $3.09 billion, and it operates with a moderate level of debt, which could be a sign of financial prudence. Carter's P/E ratio, a measure of the stock's value, is currently at 13.54, reflecting investor sentiment on its earnings capacity. Notably, the company has a track record of maintaining dividend payments for 12 consecutive years, with a current dividend yield of 3.78%, showcasing its commitment to returning value to shareholders.
InvestingPro Tips highlight that Carter's has experienced a large price uptick over the last six months, with a 26.31% total return in that period, and is trading near its 52-week high, at 96.09% of the peak price. This could indicate strong market confidence or potential overvaluation, depending on broader market conditions and individual investment strategies. Furthermore, analysts predict the company will remain profitable this year, a sentiment supported by a profitable performance over the last twelve months.
For those looking to delve deeper into Carter's Inc's financials and stock performance, there are additional InvestingPro Tips available at https://www.investing.com/pro/CRI. To access these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and learn more about the company's prospects and how it may fit into your investment portfolio.
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