Public Sector Pension investment Board Sells 2,900 Shares of DSW Inc. (DSW)
Public Sector Pension investment Board trimmed its holdings in shares of DSW Inc. (NYSE:DSW) by 7.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,700 shares of the company’s stock after selling 2,900 shares during the period. Public Sector Pension investment Board’s holdings in DSW were worth $614,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of DSW. Bank of New York Mellon Corp boosted its stake in shares of DSW by 60.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,376,926 shares of the company’s stock worth $28,475,000 after buying an additional 518,391 shares during the last quarter. Comerica Bank acquired a new position in shares of DSW during the 1st quarter worth about $1,866,000. Swiss National Bank boosted its stake in shares of DSW by 2.0% during the 1st quarter. Swiss National Bank now owns 116,700 shares of the company’s stock worth $2,413,000 after buying an additional 2,300 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of DSW by 16.6% during the 1st 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. Finally, Karp Capital Management Corp acquired a new position in shares of DSW during the 1st quarter worth about $493,000. Institutional investors own 85.55% of the company’s stock.
In related news, Chairman Deborah L. Ferree sold 75,452 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $20.00, for a total transaction of $1,509,040.00. Following the transaction, the chairman now directly owns 199,445 shares in the company, valued at $3,988,900. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William L. Jordan sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $21.32, for a total transaction of $213,200.00. Following the transaction, the executive vice president now owns 51,588 shares in the company, valued at $1,099,856.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,891 shares of company stock worth $2,559,458. 20.40% of the stock is owned by corporate insiders.
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A number of equities analysts have recently commented on the stock. Jefferies Group LLC restated a “hold” rating and set a $20.00 price objective on shares of DSW in a research note on Thursday, September 28th. B. Riley restated a “buy” rating and set a $22.00 price objective on shares of DSW in a research note on Monday, August 28th. Zacks Investment Research upgraded shares of DSW from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research note on Thursday, September 28th. Wedbush restated an “ourperform” rating and set a $23.00 price objective on shares of DSW in a research note on Monday, September 25th. Finally, Citigroup Inc. increased their price objective on shares of DSW from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. DSW presently has an average rating of “Hold” and a consensus target price of $21.96.
Shares of DSW Inc. (NYSE DSW) opened at 21.00 on Friday. DSW Inc. has a one year low of $15.14 and a one year high of $25.96. The company has a market capitalization of $1.69 billion, a PE ratio of 14.08 and a beta of 0.83. The stock has a 50 day moving average of $19.70 and a 200-day moving average of $18.71.
DSW (NYSE:DSW) last released its quarterly earnings results on Tuesday, August 22nd. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.09. DSW had a net margin of 4.41% and a return on equity of 12.12%. The business had revenue of $680.40 million for the quarter, compared to analysts’ expectations of $666.66 million. During the same period in the previous year, the company earned $0.35 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities 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 was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Monday, September 18th. DSW’s dividend payout ratio (DPR) is presently 54.05%.
DSW declared that its board has authorized a share buyback plan on Tuesday, August 22nd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 33.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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