Prudential Financial Inc. Buys 13,860 Shares of DSW Inc. (DSW)
Prudential Financial Inc. raised its stake in shares of DSW Inc. (NYSE:DSW) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 507,396 shares of the company’s stock after purchasing an additional 13,860 shares during the period. Prudential Financial Inc. owned 0.63% of DSW worth $8,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. raised its position in DSW by 42,735.5% during the first quarter. BlackRock Inc. now owns 8,346,505 shares of the company’s stock valued at $172,606,000 after purchasing an additional 8,327,020 shares during the period. Vanguard Group Inc. raised its position in DSW by 15.8% during the first quarter. Vanguard Group Inc. now owns 5,784,070 shares of the company’s stock valued at $119,615,000 after purchasing an additional 788,073 shares during the period. FMR LLC raised its position in DSW by 4.2% during the first quarter. FMR LLC now owns 5,758,260 shares of the company’s stock valued at $119,081,000 after purchasing an additional 229,685 shares during the period. Dimensional Fund Advisors LP raised its position in DSW by 36.7% during the first quarter. Dimensional Fund Advisors LP now owns 4,225,814 shares of the company’s stock valued at $87,390,000 after purchasing an additional 1,135,336 shares during the period. Finally, Frontier Capital Management Co. LLC raised its position in DSW by 110.6% during the first quarter. Frontier Capital Management Co. LLC now owns 2,408,558 shares of the company’s stock valued at $49,809,000 after purchasing an additional 1,264,730 shares during the period. Institutional investors and hedge funds own 85.55% of the company’s stock.
In related news, Chairman Deborah L. Ferree sold 75,452 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $20.00, for a total value of $1,509,040.00. Following the transaction, the chairman now directly owns 199,445 shares in the company, valued at $3,988,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William L. Jordan sold 2,666 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $20.03, for a total value of $53,399.98. Following the completion of the transaction, the executive vice president now owns 44,254 shares in the company, valued at $886,407.62. The disclosure for this sale can be found here. Insiders sold 120,476 shares of company stock worth $2,356,471 over the last quarter. 20.40% of the stock is currently owned by insiders.
DSW has been the topic of a number of recent research reports. CL King upgraded DSW from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 23rd. B. Riley restated a “neutral” rating and set a $18.50 price objective on shares of DSW in a research report on Wednesday, May 24th. Telsey Advisory Group decreased their price objective on DSW from $22.00 to $19.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 24th. Susquehanna Bancshares Inc upgraded DSW from a “negative” rating to a “neutral” rating and decreased their price objective for the company from $17.00 to $16.00 in a research report on Wednesday, May 24th. Finally, Canaccord Genuity decreased their price objective on DSW from $19.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $21.75.
DSW Inc. (NYSE:DSW) opened at 19.72 on Thursday. DSW Inc. has a 52 week low of $15.14 and a 52 week high of $25.96. The company has a market cap of $1.58 billion, a PE ratio of 13.22 and a beta of 0.80. The company has a 50-day moving average price of $18.13 and a 200 day moving average price of $18.65.
DSW (NYSE:DSW) last released its quarterly earnings data on Tuesday, August 22nd. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.09. DSW had a return on equity of 12.12% and a net margin of 4.41%. The firm had revenue of $680.40 million for the quarter, compared to analysts’ expectations of $666.66 million. During the same period in the prior year, the firm posted $0.35 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities research analysts forecast that DSW Inc. will post $1.50 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Monday, September 18th. DSW’s dividend payout ratio is presently 54.05%.
DSW announced that its Board of Directors has initiated a share repurchase plan on Tuesday, August 22nd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 33.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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