BNP Paribas Arbitrage SA Acquires 21,713 Shares of DSW Inc. (DSW)
BNP Paribas Arbitrage SA raised its stake in DSW Inc. (NYSE:DSW) by 12.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 201,994 shares of the company’s stock after buying an additional 21,713 shares during the period. BNP Paribas Arbitrage SA owned 0.25% of DSW worth $3,575,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of DSW. Teachers Advisors LLC boosted its position in shares of DSW by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 123,121 shares of the company’s stock valued at $2,789,000 after buying an additional 1,645 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of DSW during the first quarter valued at about $569,000. Nisa Investment Advisors LLC boosted its position in shares of DSW by 26.4% in the first quarter. Nisa Investment Advisors LLC now owns 33,004 shares of the company’s stock valued at $683,000 after buying an additional 6,900 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of DSW during the first quarter valued at about $154,000. Finally, Profund Advisors LLC acquired a new position in shares of DSW during the first quarter valued at about $313,000. 85.64% of the stock is owned by hedge funds and other institutional investors.
Shares of DSW Inc. (DSW) opened at 20.05 on Monday. The stock’s 50 day moving average is $17.52 and its 200-day moving average is $18.90. DSW Inc. has a 1-year low of $15.14 and a 1-year high of $26.13. The stock has a market cap of $1.62 billion, a PE ratio of 13.44 and a beta of 0.83.
DSW (NYSE:DSW) last announced its quarterly earnings results on Tuesday, August 22nd. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.09. The company had revenue of $680.40 million during the quarter, compared to the consensus estimate of $666.66 million. DSW had a net margin of 4.41% and a return on equity of 12.12%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, analysts predict that DSW Inc. will post $1.50 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.99%. The ex-dividend date is Monday, September 18th. DSW’s payout ratio is currently 54.05%.
DSW announced that its board has authorized a stock repurchase program on Tuesday, August 22nd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 33.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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DSW has been the subject of several recent research reports. Buckingham Research cut shares of DSW from a “buy” rating to a “neutral” rating and set a $20.00 target price for the company. in a report on Monday, May 8th. Zacks Investment Research raised shares of DSW from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 9th. Canaccord Genuity reissued a “hold” rating and set a $19.00 target price on shares of DSW in a report on Tuesday, May 16th. CL King raised shares of DSW from a “neutral” rating to a “buy” rating in a report on Tuesday, May 23rd. Finally, B. Riley reissued a “neutral” rating and set a $18.50 target price on shares of DSW in a report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $21.83.
In related news, Director Harvey L. Sonnenberg sold 8,439 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $18.00, for a total value of $151,902.00. Following the completion of the sale, the director now owns 12,242 shares of the company’s stock, valued at $220,356. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joanne Zaiac sold 4,219 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $17.82, for a total transaction of $75,182.58. Following the completion of the sale, the director now directly owns 4,313 shares of the company’s stock, valued at approximately $76,857.66. The disclosure for this sale can be found here. Corporate insiders own 20.40% of the company’s stock.
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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