Allianz Asset Management GmbH Cuts Holdings in Dillard's, Inc. $DDS

Key Points

• Allianz Asset Management trimmed its Dillard’s stake by 6.1% in the fourth quarter, selling 10,753 shares and leaving it with 165,271 shares valued at about $100.2 million.
• Dillard’s reported strong quarterly results, posting EPS of $16.04 versus the $10.13 consensus estimate and revenue of $1.59 billion, with revenue up 2.7% year over year.
• The company also announced a quarterly dividend of $0.30 per share, while analyst opinions remain mixed, with an average rating of Hold and a consensus price target of $521.33.

Allianz Asset Management GmbH reduced its stake in Dillard's, Inc. (NYSE:DDS - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,271 shares of the company's stock after selling 10,753 shares during the period. Allianz Asset Management GmbH owned approximately 1.06% of Dillard's worth $100,210,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DDS. JPMorgan Chase & Co. raised its holdings in Dillard's by 24.3% during the third quarter. JPMorgan Chase & Co. now owns 28,681 shares of the company's stock worth $17,624,000 after purchasing an additional 5,604 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Dillard's by 16.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 17,794 shares of the company's stock worth $11,289,000 after purchasing an additional 2,575 shares in the last quarter. American Century Companies Inc. raised its holdings in Dillard's by 15.4% during the third quarter. American Century Companies Inc. now owns 50,010 shares of the company's stock worth $30,730,000 after purchasing an additional 6,682 shares in the last quarter. Monument Capital Management raised its holdings in Dillard's by 818.6% during the fourth quarter. Monument Capital Management now owns 4,198 shares of the company's stock worth $2,545,000 after purchasing an additional 3,741 shares in the last quarter. Finally, Convergence Investment Partners LLC bought a new stake in Dillard's during the fourth quarter worth approximately $1,423,000. 67.15% of the stock is currently owned by institutional investors and hedge funds.

Dillard's Trading Down 4.2%

NYSE DDS opened at $583.84 on Thursday. Dillard's, Inc. has a twelve month low of $394.70 and a twelve month high of $741.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.31 and a current ratio of 2.37. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of 13.88 and a beta of 1.16. The firm's 50 day moving average price is $580.04 and its two-hundred day moving average price is $616.40.

Dillard's (NYSE:DDS - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported $16.04 earnings per share for the quarter, topping the consensus estimate of $10.13 by $5.91. Dillard's had a net margin of 10.09% and a return on equity of 31.43%. The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.55 billion. During the same period in the previous year, the company posted $10.39 EPS. The company's quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts anticipate that Dillard's, Inc. will post 35.26 EPS for the current year.

Dillard's Announces Dividend

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

Insiders Place Their Bets

In other Dillard's news, Director J C. Watts, Jr. sold 400 shares of Dillard's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $609.18, for a total transaction of $243,672.00. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 34.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DDS. Zacks Research raised Dillard's from a "hold" rating to a "strong-buy" rating in a report on Friday, May 29th. Telsey Advisory Group decreased their price target on shares of Dillard's from $700.00 to $650.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 25th. Wall Street Zen lowered shares of Dillard's from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. UBS Group lifted their price target on shares of Dillard's from $460.00 to $465.00 and gave the stock a "sell" rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Dillard's from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $521.33.

About Dillard's

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.