Rhumbline Advisers trimmed its stake in DSW Inc. (NYSE:DSW) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,340 shares of the company’s stock after selling 6,263 shares during the period. Rhumbline Advisers owned 0.17% of DSW worth $2,378,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in shares of DSW by 3.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,483 shares of the company’s stock worth $155,000 after purchasing an additional 283 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its position in shares of DSW by 1.6% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 19,370 shares of the company’s stock worth $343,000 after purchasing an additional 300 shares during the period. Aperio Group LLC lifted its position in shares of DSW by 3.4% in the 2nd quarter. Aperio Group LLC now owns 24,648 shares of the company’s stock worth $436,000 after purchasing an additional 815 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of DSW by 3.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 38,436 shares of the company’s stock worth $795,000 after purchasing an additional 1,102 shares during the period. Finally, Boston Private Wealth LLC lifted its position in shares of DSW by 6.2% in the 1st quarter. Boston Private Wealth LLC now owns 20,844 shares of the company’s stock worth $431,000 after purchasing an additional 1,213 shares during the period. 85.55% of the stock is owned by hedge funds and other institutional investors.
Shares of DSW Inc. (NYSE DSW) opened at 19.47 on Wednesday. The firm’s 50-day moving average is $18.04 and its 200-day moving average is $18.66. DSW Inc. has a 1-year low of $15.14 and a 1-year high of $25.96. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 13.05 and a beta of 0.80.
DSW (NYSE:DSW) last released its quarterly earnings results on Tuesday, August 22nd. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.09. The business had revenue of $680.40 million during the quarter, compared to analyst estimates of $666.66 million. DSW had a net margin of 4.41% and a return on equity of 12.12%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share. Analysts forecast that DSW Inc. will post $1.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Monday, September 18th. DSW’s payout ratio is 54.05%.
DSW announced that its board has approved a stock buyback plan on Tuesday, August 22nd that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 33.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
Several equities research analysts have recently commented on the stock. Deutsche Bank AG reaffirmed a “buy” rating and issued a $22.00 target price (up from $21.00) on shares of DSW in a research report on Wednesday, August 23rd. Canaccord Genuity dropped their target price on shares of DSW from $19.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, May 24th. Standpoint Research cut shares of DSW from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Zacks Investment Research raised shares of DSW from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, B. Riley reissued a “buy” rating and set a $22.00 price target on shares of DSW in a research report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $21.75.
In other DSW news, EVP William L. Jordan sold 2,666 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $20.03, for a total transaction of $53,399.98. Following the completion of the sale, the executive vice president now directly owns 44,254 shares of the company’s stock, valued at $886,407.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harvey L. Sonnenberg sold 8,439 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $18.00, for a total transaction of $151,902.00. Following the sale, the director now directly owns 12,242 shares of the company’s stock, valued at $220,356. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,476 shares of company stock valued at $2,356,471. Insiders own 20.40% of the company’s stock.
DSW Company Profile
DSW Inc is a footwear retailer. The Company offers an assortment of brand name dress, casual and athletic footwear and accessories for women, men and kids. The Company operates through two segments: the DSW segment (DSW), which includes DSW stores and dsw.com, and the Affiliated Business Group (ABG) segment.
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