Canaccord Genuity Reiterates “$23.00” Price Target for DSW Inc. (DSW)
Several other analysts also recently issued reports on the company. Wells Fargo & Co. upgraded DSW from an underperform rating to a market perform rating in a research report on Monday, July 11th. Deutsche Bank AG upped their price objective on DSW from $22.00 to $23.00 and gave the company a hold rating in a research report on Friday, July 15th. Buckingham Research restated a buy rating and issued a $27.00 price objective on shares of DSW in a research report on Friday, July 15th. Telsey Advisory Group increased their target price on DSW from $23.00 to $27.00 and gave the stock a market perform rating in a research report on Thursday, August 25th. Finally, Zacks Investment Research downgraded DSW from a hold rating to a strong sell rating in a research report on Monday, May 30th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four 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 $23.99.
DSW (NYSE:DSW) opened at 22.07 on Thursday. The stock has a market cap of $1.81 billion, a PE ratio of 17.61 and a beta of 0.74. DSW has a 52 week low of $18.51 and a 52 week high of $30.70. The stock has a 50 day moving average price of $24.19 and a 200 day moving average price of $23.89.
DSW (NYSE:DSW) last issued its quarterly earnings data on Tuesday, August 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. DSW had a return on equity of 12.51% and a net margin of 3.96%. The business had revenue of $659 million for the quarter, compared to the consensus estimate of $658.95 million. During the same period in the prior year, the business earned $0.42 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts predict that DSW will post $1.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.62%. DSW’s dividend payout ratio (DPR) is presently 64.52%.
In other DSW news, Director Harvey L. Sonnenberg sold 8,000 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William L. Jordan sold 42,423 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,808,325. The disclosure for this sale can be found here. Company insiders own 20.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in DSW by 2.2% in the first quarter. Wellington Management Group LLP now owns 7,809,666 shares of the company’s stock worth $215,859,000 after buying an additional 165,103 shares in the last quarter. Bayesian Capital Management LP purchased a new position in DSW during the first quarter worth approximately $316,000. Teachers Advisors Inc. increased its position in DSW by 3.7% in the first quarter. Teachers Advisors Inc. now owns 77,212 shares of the company’s stock worth $2,134,000 after buying an additional 2,784 shares in the last quarter. MIG Capital LLC increased its position in DSW by 478.7% in the first quarter. MIG Capital LLC now owns 541,000 shares of the company’s stock worth $14,953,000 after buying an additional 447,515 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in DSW by 3.8% in the first quarter. TIAA CREF Investment Management LLC now owns 205,215 shares of the company’s stock worth $5,672,000 after buying an additional 7,577 shares in the last quarter. 88.44% of the stock is currently owned by institutional investors.
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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