DSW Inc. (DSW) Raised to “Buy” at Zacks Investment Research
According to Zacks, “DSW is a specialty branded footwear retailer operating DSW stores and also supplies, under supply arrangements, to related retailers and to other non-related retailers in the United States. “
DSW has been the topic of several other research reports. Credit Suisse Group AG reissued a hold rating and set a $23.00 target price on shares of DSW in a research note on Wednesday, August 31st. Canaccord Genuity reissued a hold rating and set a $23.00 target price on shares of DSW in a research note on Wednesday, September 7th. Wells Fargo & Co. raised shares of DSW from an underperform rating to a market perform rating in a research note on Monday, July 11th. William Blair reissued a buy rating on shares of DSW in a research note on Wednesday, June 8th. Finally, Telsey Advisory Group raised their target price on shares of DSW from $23.00 to $27.00 and gave the company a market perform rating in a research note on Thursday, August 25th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $23.80.
DSW (NYSE:DSW) traded up 2.55% during mid-day trading on Tuesday, reaching $20.95. 410,954 shares of the company were exchanged. The company’s 50 day moving average price is $23.15 and its 200-day moving average price is $23.38. The stock has a market capitalization of $1.72 billion, a P/E ratio of 16.72 and a beta of 0.84. DSW has a 12 month low of $18.51 and a 12 month high of $29.53.
DSW (NYSE:DSW) last released its earnings results on Tuesday, August 30th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The firm had revenue of $659 million for the quarter, compared to analysts’ expectations of $658.95 million. DSW had a net margin of 3.96% and a return on equity of 12.51%. DSW’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.42 EPS. On average, equities analysts expect that DSW will post $1.39 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend was Wednesday, September 14th. DSW’s dividend payout ratio (DPR) is currently 64.52%.
In other news, Director Harvey L. Sonnenberg sold 8,000 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $23.50, for a total transaction of $188,000.00. Following the sale, the director now directly owns 20,142 shares of the company’s stock, valued at approximately $473,337. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP William L. Jordan sold 42,423 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $25.00, for a total value of $1,060,575.00. Following the sale, the executive vice president now directly owns 72,333 shares in the company, valued at $1,808,325. The disclosure for this sale can be found here. Insiders own 20.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in DSW by 2.2% in the first quarter. Wellington Management Group LLP now owns 7,809,666 shares of the company’s stock valued at $215,859,000 after buying an additional 165,103 shares during the period. Geode Capital Management LLC raised its stake in DSW by 48.0% in the first quarter. Geode Capital Management LLC now owns 640,247 shares of the company’s stock valued at $17,696,000 after buying an additional 207,517 shares during the period. Scotia Capital Inc. bought a new stake in DSW during the first quarter valued at about $658,000. OMERS ADMINISTRATION Corp bought a new stake in DSW during the first quarter valued at about $279,000. Finally, Menta Capital LLC bought a new stake in DSW during the first quarter valued at about $547,000. 87.86% of the stock is currently owned by institutional investors.
DSW Company Profile
DSW Inc is a footwear retailer. The Company offers assortment of shoes, handbags and accessories for women, men and children. The Company operates through two segments: the DSW segment and the Affiliated Business Group (ABG) segment. The DSW segment includes DSW stores and dsw.com. The Company, through its ABG segment, partners with approximately three other retailers to help build and optimize their footwear businesses.
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