DSW Inc. (DSW) Shares Sold by Alliancebernstein L.P.
Alliancebernstein L.P. lessened its holdings in DSW Inc. (NYSE:DSW) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 98,700 shares of the company’s stock after selling 1,910 shares during the quarter. Alliancebernstein L.P. owned approximately 0.12% of DSW worth $1,747,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in DSW. FNY Managed Accounts LLC bought a new position in DSW in the 1st quarter valued at $100,000. Ameritas Investment Partners Inc. bought a new position in DSW in the 1st quarter valued at $120,000. State of Tennessee Treasury Department bought a new position in DSW in the 1st quarter valued at $143,000. PNC Financial Services Group Inc. grew its position in DSW by 3.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,483 shares of the company’s stock valued at $155,000 after acquiring an additional 283 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in DSW in the 2nd quarter valued at $196,000. 85.55% of the stock is currently owned by institutional investors.
Several equities analysts have commented on DSW shares. Canaccord Genuity set a $17.00 price objective on DSW and gave the company a “hold” rating in a research report on Sunday, August 20th. Jefferies Group LLC set a $20.00 price objective on DSW and gave the company a “hold” rating in a research report on Wednesday, August 23rd. Wedbush raised DSW from a “neutral” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Wednesday, July 26th. Deutsche Bank AG raised DSW from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Tuesday, July 25th. Finally, BidaskClub downgraded DSW from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $21.96.
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In related news, Chairman Deborah L. Ferree sold 10,073 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $21.53, for a total transaction of $216,871.69. Following the completion of the transaction, the chairman now directly owns 113,920 shares of the company’s stock, valued at approximately $2,452,697.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the executive vice president now directly owns 56,688 shares of the company’s stock, valued at $1,077,072. The disclosure for this sale can be found here. Insiders have sold a total of 127,891 shares of company stock valued at $2,559,458 over the last three months. 20.40% of the stock is currently owned by insiders.
Shares of DSW Inc. (NYSE DSW) opened at 19.72 on Friday. DSW Inc. has a 52 week low of $15.14 and a 52 week high of $25.96. The stock has a market capitalization of $1.58 billion, a PE ratio of 13.22 and a beta of 0.83. The company’s 50 day moving average price is $20.02 and its 200-day moving average price is $18.69.
DSW (NYSE:DSW) last issued its quarterly earnings data on Tuesday, August 22nd. The company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.09. DSW had a return on equity of 12.12% and a net margin of 4.41%. The business had revenue of $680.40 million during the quarter, compared to analysts’ expectations of $666.66 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. Equities research analysts predict that DSW Inc. will post $1.50 EPS for the current year.
DSW declared that its board has approved a stock buyback program on Tuesday, August 22nd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 33.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, September 18th. This represents a $0.80 annualized dividend and a yield of 4.06%. DSW’s payout ratio is 54.05%.
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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