First Trust Advisors LP trimmed its holdings in Designer Brands Inc (NYSE:DSW) by 68.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,577 shares of the company’s stock after selling 58,642 shares during the quarter. First Trust Advisors LP’s holdings in Designer Brands were worth $656,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of DSW. TIAA CREF Investment Management LLC boosted its stake in Designer Brands by 37.8% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 211,761 shares of the company’s stock valued at $7,174,000 after purchasing an additional 58,106 shares in the last quarter. Cerebellum GP LLC boosted its stake in Designer Brands by 19.4% during the 4th quarter. Cerebellum GP LLC now owns 6,570 shares of the company’s stock valued at $162,000 after purchasing an additional 1,068 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in Designer Brands by 55.4% during the 3rd quarter. MetLife Investment Advisors LLC now owns 49,125 shares of the company’s stock valued at $1,664,000 after purchasing an additional 17,510 shares in the last quarter. Empirical Finance LLC bought a new position in Designer Brands during the 4th quarter valued at $771,000. Finally, Prudential Financial Inc. boosted its stake in Designer Brands by 241.6% during the 4th quarter. Prudential Financial Inc. now owns 514,946 shares of the company’s stock valued at $12,719,000 after purchasing an additional 364,210 shares in the last quarter. 84.64% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on DSW. TheStreet downgraded Designer Brands from a “b” rating to a “c” rating in a research report on Wednesday, March 20th. ValuEngine upgraded Designer Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Canaccord Genuity set a $28.00 price objective on Designer Brands and gave the company a “hold” rating in a research report on Monday, March 18th. Zacks Investment Research downgraded Designer Brands from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Telsey Advisory Group cut their price objective on Designer Brands from $30.00 to $26.00 and set a “market perform” rating for the company in a research report on Wednesday, March 20th. Thirteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $28.73.
Shares of DSW traded down $0.29 during mid-day trading on Friday, reaching $22.50. The company’s stock had a trading volume of 1,352,982 shares, compared to its average volume of 3,053,663. The firm has a market capitalization of $1.81 billion, a P/E ratio of 13.55, a PEG ratio of 1.35 and a beta of 1.09. Designer Brands Inc has a 1 year low of $20.21 and a 1 year high of $34.63. The company has a quick ratio of 0.67, a current ratio of 2.06 and a debt-to-equity ratio of 0.19.
Designer Brands (NYSE:DSW) last released its earnings results on Tuesday, March 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.11). The business had revenue of $843.40 million during the quarter, compared to analysts’ expectations of $842.73 million. Designer Brands had a negative net margin of 0.64% and a positive return on equity of 14.76%. Designer Brands’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 EPS. On average, analysts expect that Designer Brands Inc will post 1.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were issued a $0.25 dividend. The ex-dividend date was Friday, March 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.44%. Designer Brands’s payout ratio is currently 60.24%.
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Designer Brands Profile
DSW Inc, together with its subsidiaries, operates as a branded footwear and accessories retailer in the United States. The company offers dresses, casual and athletic footwear, and accessories under various brands for women, men, and kids. It also provides handbags, hosiery, jewelry, and other accessories.
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