60,359 Shares in Dillard's, Inc. $DDS Purchased by Norges Bank

Key Points

• Norges Bank opened a new position in Dillard’s in the fourth quarter, buying 60,359 shares valued at about $36.6 million. The stake represented roughly 0.39% of the company.
• Dillard’s reported a strong quarterly earnings beat, posting $16.04 EPS versus the $10.13 consensus estimate, while revenue reached $1.59 billion, also above expectations. Revenue was up 2.7% year over year.
• The company announced a quarterly dividend of $0.30 per share payable August 3, and the stock currently carries a mixed analyst view with an overall Hold rating and an average target price of $521.33.

Norges Bank acquired a new position in shares of Dillard's, Inc. (NYSE:DDS - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 60,359 shares of the company's stock, valued at approximately $36,598,000. Norges Bank owned approximately 0.39% of Dillard's as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Fort Sheridan Advisors LLC grew its stake in Dillard's by 0.6% in the fourth quarter. Fort Sheridan Advisors LLC now owns 4,220 shares of the company's stock valued at $2,559,000 after purchasing an additional 27 shares in the last quarter. Geode Capital Management LLC grew its stake in Dillard's by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 56,417 shares of the company's stock valued at $34,215,000 after purchasing an additional 3,025 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Dillard's in the fourth quarter valued at approximately $373,000. EverSource Wealth Advisors LLC grew its stake in Dillard's by 17.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 110 shares of the company's stock valued at $67,000 after purchasing an additional 16 shares in the last quarter. Finally, FourThought Financial Partners LLC grew its stake in Dillard's by 8.9% in the fourth quarter. FourThought Financial Partners LLC now owns 549 shares of the company's stock valued at $333,000 after purchasing an additional 45 shares in the last quarter. 67.15% of the stock is currently owned by institutional investors.

Dillard's Stock Performance

Shares of NYSE DDS opened at $611.28 on Tuesday. The company has a current ratio of 2.65, a quick ratio of 1.31 and a debt-to-equity ratio of 0.24. Dillard's, Inc. has a 12 month low of $394.70 and a 12 month high of $741.97. The stock has a 50 day moving average of $578.40 and a 200-day moving average of $616.46. The company has a market capitalization of $9.55 billion, a P/E ratio of 14.53 and a beta of 1.16.

Dillard's (NYSE:DDS - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported $16.04 EPS for the quarter, topping the consensus estimate of $10.13 by $5.91. Dillard's had a return on equity of 31.89% and a net margin of 10.09%.The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the company posted $10.39 EPS. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Dillard's, Inc. will post 35.26 EPS for the current year.

Dillard's Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 30th. Dillard's's payout ratio is currently 2.85%.

Insider Activity at Dillard's

In other news, Director J C. Watts, Jr. sold 400 shares of Dillard's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $609.18, for a total transaction of $243,672.00. Following the completion of the transaction, the director directly owned 10,150 shares in the company, valued at approximately $6,183,177. The trade was a 3.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 34.80% of the company's stock.

Analyst Upgrades and Downgrades

DDS has been the subject of a number of analyst reports. Zacks Research upgraded Dillard's from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 29th. UBS Group raised their price target on Dillard's from $460.00 to $465.00 and gave the company a "sell" rating in a research note on Wednesday, May 6th. Weiss Ratings restated a "hold (c+)" rating on shares of Dillard's in a research note on Friday, May 22nd. Telsey Advisory Group decreased their price target on Dillard's from $700.00 to $650.00 and set a "market perform" rating for the company in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price target on Dillard's from $524.00 to $449.00 and set an "underweight" rating for the company in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Dillard's currently has an average rating of "Hold" and an average target price of $521.33.

Dillard's Profile

Dillard's, Inc NYSE: DDS, headquartered in Little Rock, Arkansas, is a U.S.-based department store chain founded by William T. Dillard in 1938. Over more than eight decades of operation, the company has grown from a single store in Nashville, Arkansas, to a prominent retailer with a national footprint. Dillard's equity is publicly traded on the New York Stock Exchange under the ticker DDS.

The company operates approximately 280 departmental stores across 29 states, offering a broad assortment of merchandise that includes men's and women's apparel, accessories, cosmetics, footwear, and home furnishings.

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