Dillard’s (NYSE:DDS) Trading 4.8% Higher Following Dividend Announcement

Dillard’s, Inc. (NYSE:DDS) traded up 4.8% on Tuesday following a dividend announcement from the company. The stock traded as high as $458.34 and last traded at $458.34. 75,771 shares traded hands during trading, a decline of 36% from the average session volume of 118,737 shares. The stock had previously closed at $437.14.

The newly announced dividend which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be paid a $25.00 dividend. This represents a yield of 5.64%. The ex-dividend date of this dividend is Friday, December 13th. Dillard’s’s dividend payout ratio is presently 2.57%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group raised their price target on Dillard’s from $194.00 to $198.00 and gave the company a “sell” rating in a research note on Friday, November 15th. StockNews.com raised Dillard’s from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, Telsey Advisory Group raised their price objective on Dillard’s from $380.00 to $450.00 and gave the stock a “market perform” rating in a report on Friday, November 15th.

Dillard’s Stock Performance

The firm has a fifty day simple moving average of $404.73 and a 200-day simple moving average of $398.42. The company has a market cap of $7.38 billion, a PE ratio of 11.74 and a beta of 0.89. The company has a quick ratio of 1.02, a current ratio of 2.38 and a debt-to-equity ratio of 0.27.

Hedge Funds Weigh In On Dillard’s

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new position in shares of Dillard’s during the third quarter worth about $125,388,000. Renaissance Technologies LLC grew its holdings in shares of Dillard’s by 36.0% during the second quarter. Renaissance Technologies LLC now owns 124,200 shares of the company’s stock worth $54,696,000 after buying an additional 32,900 shares during the last quarter. State Street Corp grew its holdings in shares of Dillard’s by 3.7% during the third quarter. State Street Corp now owns 76,515 shares of the company’s stock worth $29,377,000 after buying an additional 2,758 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Dillard’s by 16.7% during the third quarter. Hexagon Capital Partners LLC now owns 49,006 shares of the company’s stock worth $18,803,000 after buying an additional 7,006 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Dillard’s by 2.0% during the second quarter. American Century Companies Inc. now owns 42,803 shares of the company’s stock worth $18,850,000 after buying an additional 830 shares during the last quarter. Hedge funds and other institutional investors own 67.15% of the company’s stock.

Dillard’s Company Profile

Dillard's, Inc operates retail department stores in the southeastern, southwestern, and midwestern areas of the United States. The company's stores offer merchandise, including fashion apparel for women, men, and children; and accessories, cosmetics, home furnishings, and other consumer goods.