Designer Brands Inc (NYSE:DBI) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 9,155,700 shares, an increase of 13.8% from the July 31st total of 8,042,500 shares. Approximately 14.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is currently 5.9 days.

DBI has been the topic of a number of recent research reports. Telsey Advisory Group dropped their target price on Designer Brands from $26.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. Canaccord Genuity decreased their target price on Designer Brands from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Friday, May 31st. Zacks Investment Research cut Designer Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. TheStreet cut Designer Brands from a “b-” rating to a “c+” rating in a research report on Monday, August 12th. Finally, Wedbush set a $22.00 price objective on Designer Brands and gave the company a “hold” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Designer Brands currently has a consensus rating of “Hold” and a consensus target price of $22.57.

In other news, Director Joanne Zaiac sold 3,688 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $19.14, for a total value of $70,588.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Deborah L. Ferree sold 69,806 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $16.37, for a total value of $1,142,724.22. 17.40% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Designer Brands in the second quarter worth $169,576,000. Vanguard Group Inc. purchased a new position in Designer Brands in the second quarter valued at $129,662,000. Northern Trust Corp purchased a new stake in shares of Designer Brands during the second quarter worth about $34,342,000. Bank of New York Mellon Corp purchased a new stake in shares of Designer Brands during the second quarter worth about $26,105,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Designer Brands during the second quarter worth about $23,505,000. 78.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:DBI traded down $0.07 during midday trading on Friday, hitting $16.85. The company had a trading volume of 54,613 shares, compared to its average volume of 1,643,542. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.34 and a current ratio of 1.42. The firm has a market cap of $1.24 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 0.60 and a beta of 1.18. Designer Brands has a 12-month low of $14.07 and a 12-month high of $34.63. The business has a fifty day simple moving average of $16.18.

Designer Brands (NYSE:DBI) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Designer Brands had a net margin of 1.53% and a return on equity of 14.92%. The company had revenue of $860.20 million for the quarter, compared to the consensus estimate of $872.99 million. During the same period last year, the company earned $0.63 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts expect that Designer Brands will post 1.9 earnings per share for the current year.

The company also recently disclosed a — dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be paid a $0.25 dividend. This represents a yield of 6.1%. The ex-dividend date of this dividend is Thursday, September 19th. Designer Brands’s payout ratio is currently 60.24%.

About Designer Brands

Designer Brands Inc designs, producers, and retails footwear and accessories for women, men, and kids primarily in North America. It operates through three segments: The U.S. Retail, the Canada Retail, and the Brand Portfolio. The company also provides handbags, hosiery, jewelry, and other accessories.

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