Parametric Portfolio Associates LLC grew its position in DSW Inc. (NYSE:DSW) by 15.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 181,325 shares of the company’s stock after buying an additional 24,832 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.23% of DSW worth $3,209,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of DSW. UBS Asset Management Americas Inc. raised its holdings in DSW by 16.6% in the first quarter. UBS Asset Management Americas Inc. now owns 48,923 shares of the company’s stock worth $1,012,000 after buying an additional 6,975 shares during the last quarter. Teachers Advisors LLC raised its holdings in DSW by 5.6% in the first quarter. Teachers Advisors LLC now owns 130,000 shares of the company’s stock worth $2,688,000 after buying an additional 6,879 shares during the last quarter. California Public Employees Retirement System raised its holdings in DSW by 15.5% in the first quarter. California Public Employees Retirement System now owns 207,400 shares of the company’s stock worth $4,289,000 after buying an additional 27,800 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in DSW by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 7,483 shares of the company’s stock worth $155,000 after buying an additional 283 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in DSW by 138.6% in the first quarter. Legal & General Group Plc now owns 164,732 shares of the company’s stock worth $3,407,000 after buying an additional 95,682 shares during the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.
DSW (NYSE:DSW) last posted its earnings results on Tuesday, August 22nd. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.09. The firm 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 business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS.
DSW announced that its board has initiated a share repurchase plan on Tuesday, August 22nd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 33.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
Several brokerages have issued reports on DSW. Wedbush cut shares of DSW from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $20.00 in a report on Wednesday. Jefferies Group LLC set a $20.00 price objective on shares of DSW and gave the company a “hold” rating in a report on Tuesday. Standpoint Research raised shares of DSW from a “hold” rating to a “buy” rating in a report on Friday, October 20th. Zacks Investment Research raised shares of DSW from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a report on Thursday, September 28th. Finally, B. Riley reissued a “buy” rating and set a $22.00 price objective on shares of DSW in a report on Monday, August 28th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.75.
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In related news, EVP William L. Jordan sold 2,666 shares of DSW stock in a transaction on Monday, August 28th. The shares were sold at an average price of $20.03, for a total value of $53,399.98. Following the sale, the executive vice president now owns 44,254 shares of the company’s stock, valued at approximately $886,407.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Deborah L. Ferree sold 10,073 shares of DSW stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $21.53, for a total transaction of $216,871.69. Following the completion of the sale, the chairman now directly owns 113,920 shares in the company, valued at approximately $2,452,697.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,891 shares of company stock valued at $2,559,458. 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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