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

Key Points

• Allspring Global Investments trimmed its stake in Dillard's by 58.3% in Q4, selling 10,072 shares and leaving it with 7,208 shares valued at about $4.59 million.
• Analyst sentiment has softened — multiple firms downgraded Dillard's, JPMorgan cut its target to $449 and the stock has a consensus rating of "Reduce" with an average price target of $519.67.
• Dillard's recently reported an EPS beat ($13.05 vs. $9.98 expected) despite revenue sliding 3% to $1.99 billion, and announced a quarterly dividend of $0.30 (annualized $1.20, ~0.2% yield).

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Dillard's, Inc. (NYSE:DDS - Free Report) by 58.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,208 shares of the company's stock after selling 10,072 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Dillard's were worth $4,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of DDS. Quarry LP purchased a new position in shares of Dillard's in the third quarter worth $33,000. CoreCap Advisors LLC acquired a new stake in Dillard's during the 3rd quarter worth about $52,000. EverSource Wealth Advisors LLC lifted its position in Dillard's by 790.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 89 shares of the company's stock worth $37,000 after acquiring an additional 79 shares during the period. PNC Financial Services Group Inc. lifted its position in Dillard's by 43.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 128 shares of the company's stock worth $79,000 after acquiring an additional 39 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in Dillard's by 63.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 129 shares of the company's stock worth $81,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 67.15% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Zacks Research lowered Dillard's from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 23rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Dillard's in a research report on Wednesday, January 21st. Wall Street Zen lowered Dillard's from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. JPMorgan Chase & Co. dropped their target price on Dillard's from $524.00 to $449.00 and set an "underweight" rating on the stock in a research report on Wednesday, February 25th. Finally, Telsey Advisory Group cut their price objective on shares of Dillard's from $700.00 to $650.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 25th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $519.67.

Dillard's Trading Up 0.2%

Shares of NYSE:DDS opened at $572.53 on Wednesday. The business has a 50 day moving average of $607.74 and a two-hundred day moving average of $624.74. Dillard's, Inc. has a 12-month low of $282.24 and a 12-month high of $741.97. The company has a market capitalization of $8.94 billion, a PE ratio of 15.72 and a beta of 1.27. 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 (NYSE:DDS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $13.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.98 by $3.07. Dillard's had a net margin of 8.81% and a return on equity of 27.55%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm posted $13.48 earnings per share. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. As a group, analysts forecast that Dillard's, Inc. will post 33.25 EPS for the current year.

Dillard's Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Tuesday, March 31st will be given a $0.30 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.2%. Dillard's's payout ratio is 3.30%.

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.

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