GLG Partners LP Acquires New Stake in DSW Inc. (DSW)
GLG Partners LP acquired a new stake in DSW Inc. (NYSE:DSW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 511,948 shares of the company’s stock, valued at approximately $9,061,000. GLG Partners LP owned 0.64% of DSW at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its position in shares of DSW by 42,735.5% in the first quarter. BlackRock Inc. now owns 8,346,505 shares of the company’s stock valued at $172,606,000 after acquiring an additional 8,327,020 shares during the period. Swiss National Bank boosted its position in shares of DSW by 2.0% in the first quarter. Swiss National Bank now owns 116,700 shares of the company’s stock valued at $2,413,000 after acquiring an additional 2,300 shares during the period. Marshall Wace North America L.P. boosted its position in shares of DSW by 822.3% in the second quarter. Marshall Wace North America L.P. now owns 240,812 shares of the company’s stock valued at $4,335,000 after acquiring an additional 214,702 shares during the period. Karp Capital Management Corp bought a new stake in shares of DSW in the first quarter valued at approximately $493,000. Finally, Thrivent Financial For Lutherans boosted its position in shares of DSW by 26.0% in the first quarter. Thrivent Financial For Lutherans now owns 257,410 shares of the company’s stock valued at $5,323,000 after acquiring an additional 53,190 shares during the period. 85.55% of the stock is owned by institutional investors.
DSW Inc. (NYSE:DSW) traded up 0.47% on Friday, reaching $21.48. The company’s stock had a trading volume of 1,081,133 shares. The company has a market cap of $1.73 billion, a P/E ratio of 14.40 and a beta of 0.80. DSW Inc. has a 12 month low of $15.14 and a 12 month high of $25.96. The company has a 50-day moving average price of $18.41 and a 200 day moving average price of $18.62.
DSW (NYSE:DSW) last released its earnings results on Tuesday, August 22nd. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.09. The firm had revenue of $680.40 million during the quarter, compared to the consensus estimate of $666.66 million. DSW had a return on equity of 12.12% and a net margin of 4.41%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS. On average, equities research analysts anticipate that DSW Inc. will post $1.50 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.72%. DSW’s payout ratio is 54.05%.
DSW announced that its board has authorized a share repurchase plan on Tuesday, August 22nd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 33.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
In other news, Chairman Deborah L. Ferree sold 10,073 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $21.53, for a total transaction of $216,871.69. Following the completion of the sale, the chairman now directly owns 113,920 shares in the company, valued at approximately $2,452,697.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Deborah L. Ferree sold 75,452 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $20.00, for a total value of $1,509,040.00. Following the sale, the chairman now owns 199,445 shares of the company’s stock, valued at $3,988,900. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,110 shares of company stock valued at $2,421,440. Corporate insiders own 20.40% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Deutsche Bank AG reissued a “buy” rating and issued a $22.00 price objective (up from $21.00) on shares of DSW in a research report on Wednesday, August 23rd. Standpoint Research cut DSW from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Zacks Investment Research raised DSW from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. B. Riley reissued a “buy” rating and issued a $22.00 price objective on shares of DSW in a research report on Monday, August 28th. Finally, Buckingham Research set a $18.00 price objective on DSW and gave the company a “hold” rating in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $21.96.
DSW Inc is a footwear retailer. The Company offers an assortment of brand name dress, casual and athletic footwear and accessories for women, men and kids. The Company operates through two segments: the DSW segment (DSW), which includes DSW stores and dsw.com, and the Affiliated Business Group (ABG) segment.
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