Allspring Global Investments Holdings LLC Decreases Holdings in Dillard's, Inc. $DDS

Key Points

• Allspring Global Investments cut its Dillard’s stake by 54.1% in the first quarter, selling 3,896 shares and ending with 3,312 shares valued at about $1.91 million.
• Dillard’s reported strong quarterly results, with EPS of $16.04 versus the $10.13 estimate and revenue of $1.59 billion, topping expectations and rising 2.7% year over year.
• Analyst sentiment remains mixed: recent downgrades from Weiss Ratings and Wall Street Zen left the stock with an average Hold rating and a consensus price target of $521.33.

Allspring Global Investments Holdings LLC lessened its stake in shares of Dillard's, Inc. (NYSE:DDS - Free Report) by 54.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,312 shares of the company's stock after selling 3,896 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Dillard's were worth $1,910,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DDS. Twin Capital Management Inc. purchased a new position in Dillard's in the 1st quarter worth approximately $949,000. Illinois Municipal Retirement Fund grew its holdings in Dillard's by 48.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 11,903 shares of the company's stock valued at $6,810,000 after purchasing an additional 3,902 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Dillard's by 18.5% during the 1st quarter. Sanctuary Advisors LLC now owns 422 shares of the company's stock worth $241,000 after buying an additional 66 shares during the period. Global Assets Advisory LLC acquired a new position in Dillard's in the 1st quarter worth $114,000. Finally, Fifth Third Bancorp purchased a new position in Dillard's in the 1st quarter valued at about $3,780,000. Institutional investors and hedge funds own 67.15% of the company's stock.

Dillard's Price Performance

Shares of DDS opened at $568.95 on Friday. Dillard's, Inc. has a 52 week low of $449.64 and a 52 week high of $741.97. The company has a current ratio of 2.37, a quick ratio of 1.20 and a debt-to-equity ratio of 0.21. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 13.53 and a beta of 1.15. The stock has a 50 day moving average of $563.04 and a 200-day moving average of $593.31.

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

Dillard's Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Weiss Ratings cut Dillard's from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, June 23rd. Wall Street Zen lowered Dillard's from a "buy" rating to a "hold" rating in a research report on Monday, July 20th. Zacks Research raised Dillard's from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 29th. Finally, UBS Group increased their target price on Dillard's from $460.00 to $465.00 and gave the company a "sell" rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $521.33.

Insider Transactions at Dillard's

In other Dillard's news, Director J C. Watts, Jr. sold 400 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $609.18, for a total value of $243,672.00. Following the transaction, the director owned 10,150 shares of the company's stock, valued at $6,183,177. This trade represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 34.80% of the stock is owned by corporate insiders.

Dillard's Company 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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