Cambria Investment Management L.P. Decreases Position in Dillard’s, Inc. (DDS)
Cambria Investment Management L.P. lowered its position in shares of Dillard’s, Inc. (NYSE:DDS) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,868 shares of the company’s stock after selling 387 shares during the quarter. Cambria Investment Management L.P.’s holdings in Dillard’s were worth $567,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its holdings in shares of Dillard’s by 120.4% during the fourth quarter. Canada Pension Plan Investment Board now owns 248,819 shares of the company’s stock valued at $15,005,000 after purchasing an additional 135,900 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Dillard’s during the fourth quarter valued at $96,000. Teachers Advisors LLC lifted its holdings in shares of Dillard’s by 3.1% during the third quarter. Teachers Advisors LLC now owns 25,129 shares of the company’s stock valued at $1,918,000 after purchasing an additional 761 shares during the last quarter. Flossbach Von Storch AG lifted its holdings in shares of Dillard’s by 19.5% during the fourth quarter. Flossbach Von Storch AG now owns 27,600 shares of the company’s stock valued at $1,665,000 after purchasing an additional 4,500 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Dillard’s by 12.8% during the fourth quarter. First Trust Advisors LP now owns 35,423 shares of the company’s stock valued at $2,136,000 after purchasing an additional 4,020 shares during the last quarter. 88.10% of the stock is owned by institutional investors and hedge funds.
In related news, VP Mike Litchford sold 1,060 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $73.81, for a total value of $78,238.60. Following the completion of the sale, the vice president now directly owns 1,932 shares of the company’s stock, valued at approximately $142,600.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert C. Connor acquired 800 shares of Dillard’s stock in a transaction that occurred on Monday, May 20th. The stock was acquired at an average cost of $56.86 per share, with a total value of $45,488.00. Following the completion of the purchase, the director now owns 70,200 shares in the company, valued at approximately $3,991,572. The disclosure for this purchase can be found here. 20.10% of the stock is currently owned by corporate insiders.
Dillard’s (NYSE:DDS) last announced its quarterly earnings data on Wednesday, May 15th. The company reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.11). The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Dillard’s had a return on equity of 9.67% and a net margin of 2.62%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $2.89 earnings per share. On average, research analysts forecast that Dillard’s, Inc. will post 5.11 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, June 28th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, June 27th. Dillard’s’s dividend payout ratio is currently 6.54%.
Several equities research analysts have recently commented on DDS shares. Deutsche Bank reduced their target price on Dillard’s from $56.00 to $53.00 and set a “sell” rating for the company in a report on Thursday, May 16th. ValuEngine downgraded Dillard’s from a “hold” rating to a “sell” rating in a report on Friday, May 17th. TheStreet raised Dillard’s from a “c+” rating to a “b” rating in a report on Wednesday, February 27th. Wedbush downgraded Dillard’s from a “neutral” rating to an “underperform” rating and set a $65.00 target price for the company. in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. downgraded Dillard’s from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $68.00 to $57.00 in a research note on Monday, March 4th. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has a consensus rating of “Sell” and a consensus price target of $61.14.
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Dillard's, Inc operates retail department stores primarily in the Southeastern, Southwestern, and Midwestern areas of the United States. The company's stores offer a selection of merchandise, including fashion apparel for women, men, and children; accessories; cosmetics; home furnishings; and other consumer goods.
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