DSW Inc. (DSW) Stake Boosted by Fenimore Asset Management Inc.
Fenimore Asset Management Inc. raised its position in DSW Inc. (NYSE:DSW) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,397,157 shares of the company’s stock after buying an additional 2,125 shares during the period. DSW comprises 1.4% of Fenimore Asset Management Inc.’s investment portfolio, making the stock its 27th largest position. Fenimore Asset Management Inc. owned approximately 1.70% of DSW worth $28,614,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the company. BlackRock Fund Advisors increased its stake in shares of DSW by 143.4% in the second quarter. BlackRock Fund Advisors now owns 1,647,457 shares of the company’s stock worth $34,893,000 after buying an additional 970,513 shares during the period. Point72 Asset Management L.P. increased its stake in DSW by 1,165.2% in the second quarter. Point72 Asset Management L.P. now owns 846,400 shares of the company’s stock valued at $17,927,000 after buying an additional 779,500 shares during the last quarter. Citigroup Inc. increased its stake in DSW by 856.5% in the second quarter. Citigroup Inc. now owns 753,222 shares of the company’s stock valued at $15,954,000 after buying an additional 674,476 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in DSW by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,047,286 shares of the company’s stock valued at $64,540,000 after buying an additional 664,487 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in DSW by 1,174.8% in the first quarter. Prudential Financial Inc. now owns 515,675 shares of the company’s stock valued at $14,253,000 after buying an additional 475,223 shares during the last quarter. 87.86% of the stock is owned by institutional investors.
DSW Inc. (NYSE:DSW) traded up 1.92% during midday trading on Wednesday, reaching $21.20. The company had a trading volume of 383,118 shares. The company has a market capitalization of $1.74 billion, a P/E ratio of 16.92 and a beta of 0.84. DSW Inc. has a 52-week low of $18.51 and a 52-week high of $29.53. The company’s 50 day moving average is $22.78 and its 200-day moving average is $23.23.
DSW (NYSE:DSW) last announced its quarterly earnings results on Tuesday, August 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. DSW had a net margin of 3.96% and a return on equity of 12.51%. The company had revenue of $659 million for the quarter, compared to analyst estimates of $658.95 million. During the same quarter last year, the business earned $0.42 earnings per share. DSW’s revenue was up 5.1% compared to the same quarter last year. Equities analysts expect that DSW Inc. will post $1.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a $0.20 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.85%. DSW’s payout ratio is currently 64.52%.
Several analysts have recently weighed in on the company. B. Riley reissued a “neutral” rating and issued a $23.00 target price on shares of DSW in a report on Wednesday, August 31st. Zacks Investment Research raised DSW from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 26th. Canaccord Genuity reissued a “hold” rating and issued a $23.00 target price on shares of DSW in a report on Wednesday, September 7th. Credit Suisse Group AG reissued a “hold” rating and issued a $23.00 target price on shares of DSW in a report on Wednesday, August 31st. Finally, Citigroup Inc. boosted their target price on DSW from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, August 31st. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. DSW has a consensus rating of “Hold” and a consensus target price of $23.80.
In other DSW news, Director Harvey L. Sonnenberg sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $23.50, for a total value of $188,000.00. Following the sale, the director now owns 20,142 shares in the company, valued at $473,337. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William L. Jordan sold 42,423 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $25.00, for a total transaction of $1,060,575.00. Following the completion of the sale, the executive vice president now owns 72,333 shares in the company, valued at approximately $1,808,325. The disclosure for this sale can be found here. 20.30% of the stock is currently owned by company insiders.
DSW Inc is a footwear retailer. The Company offers assortment of shoes, handbags and accessories for women, men and children. The Company operates through two segments: the DSW segment and the Affiliated Business Group (ABG) segment. The DSW segment includes DSW stores and dsw.com. The Company, through its ABG segment, partners with approximately three other retailers to help build and optimize their footwear businesses.
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