market folly

Chase Coleman and Feroz Dewan's hedge fund Tiger Global has filed an amended 13G with the SEC regarding shares of Carter's (CRI).  Per the filing, Tiger Global has completely exited its stake and no longer owns any shares.

The filing was made due to activity on May 23rd.  The hedge fund had previously owned over 6.4 million shares and it had been a longstanding position.  Some hedge funds had been concerned with product cost inflation and the potential impact on gross margins this year.

Hedge funds that owned sizable CRI stakes as of the end of Q1 include Hound Partners, Pennant Capital, Glenview Capital, and White Elm Capital.

You can view other recent portfolio activity from Tiger Global here.

Per Google Finance, Carter's is "a branded marketer of apparel for babies and young children in the United States. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh. Its Carter’s brand provides apparel for children sizes ranging from newborn to seven. OshKosh brand provides its line of apparel for children sizes newborn to 12. Its Carter’s, OshKosh, and related brands are sold to national department stores, chain and specialty stores and discount retailers."