DSW Inc. (DSW) Shares Bought by Suntrust Banks Inc.
Suntrust Banks Inc. increased its position in shares of DSW Inc. (NYSE:DSW) by 9.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,000 shares of the company’s stock after purchasing an additional 13,400 shares during the quarter. Suntrust Banks Inc. owned 0.20% of DSW worth $2,778,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. California Public Employees Retirement System lifted its stake in DSW by 2.8% during the second quarter. California Public Employees Retirement System now owns 213,200 shares of the company’s stock worth $3,774,000 after purchasing an additional 5,800 shares during the last quarter. ETRADE Capital Management LLC lifted its stake in DSW by 4.4% during the second quarter. ETRADE Capital Management LLC now owns 45,068 shares of the company’s stock worth $798,000 after purchasing an additional 1,882 shares during the last quarter. FMR LLC lifted its stake in DSW by 9.3% during the second quarter. FMR LLC now owns 6,291,973 shares of the company’s stock worth $111,368,000 after purchasing an additional 533,713 shares during the last quarter. Vanguard Group Inc. lifted its stake in DSW by 5.1% during the second quarter. Vanguard Group Inc. now owns 6,081,533 shares of the company’s stock worth $107,644,000 after purchasing an additional 297,463 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in DSW by 1.0% during the second quarter. Northern Trust Corp now owns 1,034,222 shares of the company’s stock worth $18,306,000 after purchasing an additional 10,674 shares during the last quarter. Hedge funds and other institutional investors own 85.55% of the company’s stock.
Several equities analysts recently issued reports on DSW shares. BidaskClub cut DSW from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Wedbush upgraded DSW from a “neutral” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Wednesday, July 26th. Deutsche Bank AG upgraded DSW from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Tuesday, July 25th. ValuEngine cut DSW from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Canaccord Genuity set a $17.00 price objective on DSW and gave the stock a “hold” rating in a research note on Sunday, August 20th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $21.82.
In other news, Chairman Deborah L. Ferree sold 75,452 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $20.00, for a total transaction of $1,509,040.00. Following the completion of the sale, the chairman now owns 199,445 shares in the company, valued at $3,988,900. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William L. Jordan sold 15,100 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $19.00, for a total value of $286,900.00. Following the sale, the executive vice president now owns 56,688 shares of the company’s stock, valued at approximately $1,077,072. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,037 shares of company stock valued at $2,204,569. 20.40% of the stock is currently owned by corporate insiders.
DSW Inc. (NYSE DSW) opened at 21.50 on Thursday. The company’s 50-day moving average price is $18.41 and its 200-day moving average price is $18.62. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 14.41 and a beta of 0.80. DSW Inc. has a 12-month low of $15.14 and a 12-month high of $25.96.
DSW (NYSE:DSW) last released its earnings results on Tuesday, August 22nd. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 12.12% and a net margin of 4.41%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.35 earnings per share. Equities analysts expect that DSW Inc. will post $1.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.74%. DSW’s payout ratio is currently 54.05%.
DSW announced that its board has authorized a share repurchase program on Tuesday, August 22nd that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 33.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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