Shares of Dillard’s, Inc. (NYSE:DDS) experienced a significant decline of **5.4%** during mid-day trading on **November 28, 2023**. The stock reached a low of **$632.91** before closing at **$628.0250**, a stark contrast to its previous close of **$663.63**. The trading volume was notably low, with **32,627 shares** exchanged, reflecting a **76%** decrease from the average session volume of **136,258 shares**.
Several research firms recently revised their ratings for Dillard’s, contributing to the stock’s downturn. **UBS Group** adjusted its price target from **$184.00** to **$460.00**, maintaining a “sell” rating. In contrast, **Zacks Research** raised its rating from “hold” to “strong-buy” on the same day. **JPMorgan Chase & Co.** also increased its price objective from **$411.00** to **$524.00**, assigning an “underweight” rating. Overall, the consensus among analysts indicates a “hold” rating with a price target of **$511.33**.
Quarterly Earnings and Dividend Announcement
Dillard’s released its quarterly earnings data on **November 13, 2023**, reporting earnings per share (EPS) of **$8.31**. This figure surpassed analysts’ estimates, which had anticipated an EPS of **$6.43**, marking a substantial increase of **$1.88**. The company generated revenues of **$1.49 billion**, exceeding expectations of **$1.41 billion**. In the same quarter last year, Dillard’s reported an EPS of **$7.73**, showcasing a year-over-year revenue growth of **2.9%**. Analysts project that Dillard’s will achieve an EPS of **33.25** for the current fiscal year.
Additionally, Dillard’s announced a quarterly dividend of **$0.30** per share, scheduled for payment on **February 2, 2024**. Investors on record as of **December 31, 2023**, will receive this dividend, translating to an annualized yield of **0.2%**. Dillard’s dividend payout ratio currently stands at **3.26%**.
Recent Insider Transactions and Institutional Activity
In other developments, **J.C. Watts, Jr.**, a director at Dillard’s, sold **750 shares** of the company on **October 16, 2023**, at an average price of **$594.60**, totaling **$445,950.00**. Following this transaction, Watts retains **10,250 shares**, valued at approximately **$6,094,650**, reflecting a **6.82%** reduction in ownership. This sale was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC).
Institutional investors have also made significant moves regarding Dillard’s stock. **Nuveen LLC** acquired a new position valued at approximately **$6,250,000** during the first quarter. **American Century Companies Inc.** increased its holdings by **2.9%**, now owning **42,555 shares** worth **$15,240,000**. **Raymond James Financial Inc.** significantly boosted its stake by **617.5%**, acquiring an additional **7,954 shares**. Overall, institutional and hedge funds hold **67.15%** of Dillard’s stock.
Dillard’s, headquartered in **Little Rock, Arkansas**, is a prominent U.S.-based department store chain established in **1938**. The company operates approximately **280** stores across **29 states**, offering a wide range of merchandise, including apparel, accessories, cosmetics, and home furnishings.
