Wedge Capital Management L L P NC Has $34.52 Million Position in Dillard's, Inc. $DDS

Key Points

• Wedge Capital Management increased its Dillard’s stake by 6.4% in the second quarter, holding 65,318 shares valued at approximately $34.5 million. Institutional investors and hedge funds collectively own 67.15% of the company.
• Dillard’s reported a strong quarter, with earnings of $16.04 per share versus the $10.13 analyst consensus and revenue of $1.59 billion, up 2.7% year over year.
• Analyst sentiment remains cautious: three analysts rate the stock Hold and two rate it Sell, producing a consensus “Reduce” rating and an average price target of $521.33, below the reported share price of $649.21.

Wedge Capital Management L L P NC boosted its position in Dillard's, Inc. (NYSE:DDS - Free Report) by 6.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,318 shares of the company's stock after purchasing an additional 3,907 shares during the quarter. Wedge Capital Management L L P NC owned about 0.42% of Dillard's worth $34,515,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its holdings in shares of Dillard's by 108.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 48 shares of the company's stock worth $29,000 after buying an additional 25 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in Dillard's during the fourth quarter worth about $29,000. Quarry LP bought a new position in shares of Dillard's during the third quarter worth approximately $33,000. EverSource Wealth Advisors LLC increased its holdings in shares of Dillard's by 790.0% during the second quarter. EverSource Wealth Advisors LLC now owns 89 shares of the company's stock worth $37,000 after purchasing an additional 79 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of Dillard's by 6,300.0% in the fourth quarter. Global Retirement Partners LLC now owns 64 shares of the company's stock valued at $39,000 after buying an additional 63 shares in the last quarter. 67.15% of the stock is owned by institutional investors and hedge funds.

Dillard's Price Performance

Dillard's stock opened at $649.21 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.20 and a current ratio of 2.37. Dillard's, Inc. has a 52 week low of $467.82 and a 52 week high of $741.97. The stock has a market capitalization of $10.14 billion, a P/E ratio of 15.44 and a beta of 1.15. The stock has a fifty day moving average of $572.66 and a 200-day moving average of $587.73.

Dillard's (NYSE:DDS - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported $16.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.55 billion. During the same quarter in the previous year, the company earned $10.39 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that Dillard's, Inc. will post 35.26 earnings per share for the current fiscal year.

Dillard's Announces Dividend

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

Insider Activity

In other news, Director J C. Watts, Jr. sold 400 shares of the stock in a transaction dated 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 owned 10,150 shares of the company's stock, valued at $6,183,177. This represents a 3.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 34.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DDS. Weiss Ratings cut Dillard's from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, June 23rd. Zacks Research cut Dillard's from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Wall Street Zen lowered Dillard's from a "buy" rating to a "hold" rating in a report on Monday, July 20th. Finally, UBS Group boosted 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. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $521.33.

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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