Ameriprise Financial Inc. lowered its position in DSW Inc. (NYSE:DSW) by 42.8% during the second quarter, Holdings Channel reports. The institutional investor owned 271,277 shares of the company’s stock after selling 202,866 shares during the period. Ameriprise Financial Inc. owned about 0.33% of DSW worth $5,745,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Americafirst Capital Management LLC purchased a new stake in shares of DSW during the second quarter worth about $107,000. Nisa Investment Advisors L.L.C. increased its stake in shares of DSW by 1.1% in the first quarter. Nisa Investment Advisors L.L.C. now owns 9,143 shares of the company’s stock worth $253,000 after buying an additional 100 shares in the last quarter. Mariner Wealth Advisors LLC purchased a new stake in shares of DSW during the first quarter worth about $260,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of DSW during the first quarter worth about $279,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of DSW during the first quarter worth about $316,000. Institutional investors and hedge funds own 87.86% of the company’s stock.
Shares of DSW Inc. (NYSE:DSW) traded up 0.19% during midday trading on Thursday, reaching $21.17. 520,140 shares of the company traded hands. The company has a 50 day moving average of $22.64 and a 200 day moving average of $23.21. The firm has a market capitalization of $1.74 billion, a P/E ratio of 16.90 and a beta of 0.84. DSW Inc. has a 12 month low of $18.51 and a 12 month high of $29.53.
DSW (NYSE:DSW) last issued its quarterly earnings results on Tuesday, August 30th. The company reported $0.35 EPS for the quarter, topping the 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 firm earned $659 million during the quarter, compared to analyst estimates of $658.95 million. During the same quarter in the prior year, the business posted $0.42 earnings per share. DSW’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that DSW Inc. will post $1.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Wednesday, September 14th. DSW’s dividend payout ratio (DPR) is 64.52%.
A number of brokerages have recently issued reports on DSW. Zacks Investment Research upgraded shares of DSW from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, October 4th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $23.00 price objective on shares of DSW in a research report on Wednesday, August 31st. Canaccord Genuity reaffirmed a “hold” rating and set a $23.00 price objective on shares of DSW in a research report on Wednesday, September 7th. Wells Fargo & Co. raised shares of DSW from an “underperform” rating to a “market perform” rating in a research report 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 stock a “market perform” rating in a research report on Thursday, August 25th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.80.
In other news, Director Harvey L. Sonnenberg sold 8,000 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $23.50, for a total value of $188,000.00. Following the completion of the sale, the director now owns 20,142 shares of the company’s stock, valued at $473,337. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $1,060,575.00. Following the completion of the sale, the executive vice president now directly owns 72,333 shares of the company’s stock, valued at approximately $1,808,325. The disclosure for this sale can be found here. 20.30% of the stock is currently owned by insiders.
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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