Essex Investment Management Co. LLC Sells 131 Shares of DSW Inc. (DSW)
Essex Investment Management Co. LLC cut its position in DSW Inc. (NYSE:DSW) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 9,949 shares of the company’s stock after selling 131 shares during the period. Essex Investment Management Co. LLC’s holdings in DSW were worth $211,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in DSW. Wellington Management Group LLP increased its position in shares of 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 in the last quarter. Fenimore Asset Management Inc. increased its position in shares of DSW by 33.3% in the second quarter. Fenimore Asset Management Inc. now owns 1,395,032 shares of the company’s stock valued at $29,547,000 after buying an additional 348,150 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 in the last quarter. MIG Capital LLC increased its position in shares of DSW by 478.7% in the first quarter. MIG Capital LLC now owns 541,000 shares of the company’s stock valued at $14,953,000 after buying an additional 447,515 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of DSW by 10.3% in the first quarter. Royal Bank of Canada now owns 534,494 shares of the company’s stock valued at $14,773,000 after buying an additional 49,895 shares in the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.
Shares of DSW Inc. (NYSE:DSW) traded up 2.35% during mid-day trading on Friday, reaching $20.91. 1,621,860 shares of the company’s stock were exchanged. DSW Inc. has a 1-year low of $18.51 and a 1-year high of $29.53. The stock has a market capitalization of $1.72 billion, a PE ratio of 16.69 and a beta of 0.84. The company’s 50 day moving average is $23.04 and its 200 day moving average is $23.34.
DSW (NYSE:DSW) last issued its quarterly earnings results on Tuesday, August 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. DSW had a net margin of 3.96% and a return on equity of 12.51%. The business had revenue of $659 million for the quarter, compared to analyst estimates of $658.95 million. During the same quarter in the prior year, the business posted $0.42 EPS. DSW’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that DSW Inc. will post $1.39 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.83%. DSW’s payout ratio is 64.52%.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of DSW from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday. Credit Suisse Group AG reiterated a “hold” rating and issued a $23.00 target price on shares of DSW in a research note on Wednesday, August 31st. Canaccord Genuity reiterated a “hold” rating and issued a $23.00 target price on shares of DSW in a research note on Wednesday, September 7th. Wells Fargo & Co. upgraded shares of DSW from an “underperform” rating to a “market perform” rating in a research note on Monday, July 11th. Finally, Telsey Advisory Group increased their price objective on shares of DSW from $23.00 to $27.00 and gave the company a “market perform” rating in a research report on Thursday, August 25th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. DSW currently has a consensus rating of “Hold” and an average target price of $23.80.
In other news, EVP William L. Jordan sold 42,423 shares of the stock in a transaction on Wednesday, September 7th. The shares were 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 owns 72,333 shares in the company, valued at $1,808,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the director now owns 20,142 shares in the company, valued at approximately $473,337. The disclosure for this sale can be found here. Company insiders own 20.30% of the company’s stock.
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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