State Treasurer State of Michigan reduced its stake in Dillard’s, Inc. (NYSE:DDS) by 12.6% during the second quarter, Holdings Channel reports. The firm owned 9,000 shares of the company’s stock after selling 1,300 shares during the period. State Treasurer State of Michigan’s holdings in Dillard’s were worth $519,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DDS. Aperio Group LLC raised its position in shares of Dillard’s by 0.5% in the second quarter. Aperio Group LLC now owns 14,433 shares of the company’s stock valued at $833,000 after buying an additional 74 shares during the period. Horrell Capital Management Inc. raised its position in shares of Dillard’s by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the company’s stock valued at $1,424,000 after buying an additional 100 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Dillard’s by 1.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 23,342 shares of the company’s stock valued at $1,219,000 after buying an additional 234 shares during the period. LS Investment Advisors LLC raised its position in shares of Dillard’s by 16.4% in the second quarter. LS Investment Advisors LLC now owns 1,995 shares of the company’s stock valued at $115,000 after buying an additional 281 shares during the period. Finally, Capstone Asset Management Co. raised its position in shares of Dillard’s by 4.2% in the second quarter. Capstone Asset Management Co. now owns 7,860 shares of the company’s stock valued at $453,000 after buying an additional 320 shares during the period. Institutional investors own 93.36% of the company’s stock.

Dillard’s, Inc. (NYSE DDS) traded down 15.360% during mid-day trading on Thursday, reaching $62.075. 2,794,088 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $63.80 and its 200 day moving average price is $55.91. Dillard’s, Inc. has a one year low of $45.51 and a one year high of $83.44. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 13.046 and a beta of 1.12.

Dillard’s (NYSE:DDS) last issued its quarterly earnings data on Thursday, May 11th. The company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Dillard’s had a net margin of 2.50% and a return on equity of 9.39%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the company posted $2.17 EPS. The business’s revenue was down 5.7% on a year-over-year basis. On average, equities analysts forecast that Dillard’s, Inc. will post $4.67 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were paid a $0.07 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. Dillard’s’s payout ratio is currently 5.76%.

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Several research analysts recently issued reports on the stock. TheStreet upgraded shares of Dillard’s from a “c” rating to a “b-” rating in a research report on Tuesday. ValuEngine lowered shares of Dillard’s from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. BidaskClub upgraded shares of Dillard’s from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Deutsche Bank AG upped their target price on shares of Dillard’s from $39.00 to $42.00 and gave the stock a “sell” rating in a research report on Tuesday. Finally, Zacks Investment Research upgraded shares of Dillard’s from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Dillard’s currently has an average rating of “Hold” and a consensus price target of $59.17.

In other Dillard’s news, major shareholder David Einhorn sold 35,125 shares of Dillard’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $51.50, for a total value of $1,808,937.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 23.27% of the company’s stock.

About Dillard’s

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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Institutional Ownership by Quarter for Dillard`s (NYSE:DDS)

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