BlackRock Inc. lessened its position in shares of Dillard’s, Inc. (NYSE:DDS) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,918,315 shares of the company’s stock after selling 8,053 shares during the period. BlackRock Inc. owned approximately 6.74% of Dillard’s worth $154,117,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of DDS. Cornerstone Capital Management Holdings LLC. purchased a new stake in Dillard’s during the fourth quarter valued at about $174,000. MANA Advisors LLC purchased a new stake in Dillard’s during the fourth quarter valued at about $200,000. Macquarie Group Ltd. purchased a new stake in Dillard’s during the fourth quarter valued at about $210,000. ING Groep NV purchased a new stake in Dillard’s during the first quarter valued at about $251,000. Finally, Two Sigma Securities LLC purchased a new stake in Dillard’s during the fourth quarter valued at about $284,000. 87.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Dillard’s opened at $94.60 on Friday, according to MarketBeat Ratings. Dillard’s, Inc. has a 1-year low of $49.91 and a 1-year high of $98.75. The company has a quick ratio of 0.21, a current ratio of 1.60 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $2.67 billion, a PE ratio of 19.71, a P/E/G ratio of 1.59 and a beta of 1.08.
Dillard’s declared that its board has approved a stock buyback program on Thursday, March 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 6th. Stockholders of record on Friday, June 29th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Thursday, June 28th. Dillard’s’s payout ratio is 8.33%.
In other news, Director James I. Freeman sold 70,000 shares of the company’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $75.61, for a total value of $5,292,700.00. Following the completion of the sale, the director now owns 226,930 shares of the company’s stock, valued at $17,158,177.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Tom W. Bolin sold 495 shares of the company’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $92.22, for a total value of $45,648.90. Following the completion of the sale, the vice president now directly owns 569 shares of the company’s stock, valued at approximately $52,473.18. The disclosure for this sale can be found here. Insiders sold 130,226 shares of company stock valued at $10,699,113 in the last ninety days. Company insiders own 19.10% of the company’s stock.
DDS has been the subject of a number of research reports. Bank of America raised Dillard’s from an “underperform” rating to a “buy” rating and boosted their price target for the company from $77.37 to $89.00 in a research report on Monday, May 21st. Deutsche Bank boosted their price target on Dillard’s from $51.00 to $52.00 and gave the company a “sell” rating in a research report on Monday, February 26th. Zacks Investment Research downgraded Dillard’s from a “hold” rating to a “sell” rating in a research report on Tuesday, May 8th. ValuEngine downgraded Dillard’s from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Susquehanna Bancshares reissued a “neutral” rating and set a $60.00 price target on shares of Dillard’s in a research report on Thursday, June 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $68.17.
Dillard’s Company Profile
Dillard's, Inc operates retail department stores primarily in the Southeastern, Southwestern, and Midwestern areas of the United States. The company's stores offer a selection of merchandise, including fashion apparel for women, men, and children; accessories; cosmetics; home furnishings; and other consumer goods.
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