Telsey Advisory Group Reaffirms Outperform Rating for Dillard's (DDS)
Telsey Advisory Group reaffirmed their outperform rating on shares of Dillard's (NYSE:DDS) in a report released on Wednesday, MarketBeat Ratings reports. They currently have a $83.00 price target on the stock, up from their previous price target of $72.00.
A number of other research analysts have also recently commented on the company. Zacks Investment Research upgraded Dillard's from a hold rating to a strong-buy rating and set a $70.00 price objective on the stock in a research note on Tuesday, December 19th. ValuEngine cut Dillard's from a buy rating to a hold rating in a research note on Saturday, January 13th. Deutsche Bank boosted their price objective on Dillard's from $51.00 to $52.00 and gave the stock a sell rating in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. restated an underweight rating on shares of Dillard's in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $60.25.
Dillard's (NYSE:DDS) opened at $87.97 on Wednesday. The company has a market capitalization of $2,505.74, a PE ratio of 18.44 and a beta of 1.07. Dillard's has a one year low of $45.51 and a one year high of $88.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.14 and a current ratio of 1.66.
Dillard's announced that its Board of Directors has initiated a share buyback program on Thursday, March 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 7th. Stockholders of record on Friday, March 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Wednesday, March 28th. Dillard's’s payout ratio is 5.27%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Dillard's by 21.2% during the third quarter. Bank of New York Mellon Corp now owns 1,095,005 shares of the company’s stock worth $61,398,000 after acquiring an additional 191,168 shares during the last quarter. State Street Corp increased its position in shares of Dillard's by 9.3% during the second quarter. State Street Corp now owns 800,724 shares of the company’s stock worth $46,201,000 after acquiring an additional 68,006 shares during the last quarter. Northern Trust Corp increased its position in shares of Dillard's by 3.8% during the second quarter. Northern Trust Corp now owns 220,713 shares of the company’s stock worth $12,733,000 after acquiring an additional 8,071 shares during the last quarter. J. Goldman & Co LP purchased a new stake in shares of Dillard's during the fourth quarter worth about $9,824,000. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Dillard's by 9.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 140,795 shares of the company’s stock worth $7,895,000 after acquiring an additional 11,573 shares during the last quarter. 89.85% of the stock is currently owned by institutional investors and hedge funds.
Dillard's Company Profile
Dillard’s, Inc is a retailer of fashion apparel, cosmetics and home furnishing. As of January 28, 2017, the Company operated 293 Dillard’s stores, including 25 clearance centers, and an Internet store offering a selection of merchandise, including fashion apparel for women, men and children, accessories, cosmetics, home furnishings and other consumer goods.
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