MetLife Investment Advisors LLC decreased its holdings in shares of Designer Brands Inc (NYSE:DSW) by 35.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,615 shares of the company’s stock after selling 17,510 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Designer Brands were worth $781,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in DSW. Renaissance Technologies LLC raised its stake in Designer Brands by 335.4% during the third quarter. Renaissance Technologies LLC now owns 885,230 shares of the company’s stock worth $29,992,000 after acquiring an additional 681,900 shares during the period. Oregon Public Employees Retirement Fund acquired a new stake in shares of Designer Brands in the fourth quarter valued at approximately $26,000. Deutsche Bank AG increased its stake in shares of Designer Brands by 95.1% in the third quarter. Deutsche Bank AG now owns 1,035,557 shares of the company’s stock valued at $35,082,000 after purchasing an additional 504,828 shares during the period. AQR Capital Management LLC increased its stake in shares of Designer Brands by 119.8% in the third quarter. AQR Capital Management LLC now owns 871,104 shares of the company’s stock valued at $29,513,000 after purchasing an additional 474,783 shares during the period. Finally, Morgan Stanley increased its stake in shares of Designer Brands by 190.9% in the third quarter. Morgan Stanley now owns 584,393 shares of the company’s stock valued at $19,799,000 after purchasing an additional 383,488 shares during the period. Hedge funds and other institutional investors own 84.64% of the company’s stock.
In related news, CEO Roger Rawlins sold 21,463 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $30.26, for a total value of $649,470.38. Following the completion of the transaction, the chief executive officer now owns 66,918 shares of the company’s stock, valued at approximately $2,024,938.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.70% of the company’s stock.
Designer Brands (NYSE:DSW) last posted its quarterly earnings data on Tuesday, March 19th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.11). Designer Brands had a positive return on equity of 14.76% and a negative net margin of 0.64%. The firm had revenue of $843.40 million during the quarter, compared to analyst estimates of $842.73 million. During the same period in the prior year, the business posted $0.38 EPS. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Designer Brands Inc will post 1.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, April 1st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Friday, March 29th. Designer Brands’s dividend payout ratio is 60.24%.
Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Designer Brands from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 11th. ValuEngine upgraded shares of Designer Brands from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. TheStreet cut shares of Designer Brands from a “b” rating to a “c” rating in a report on Wednesday, March 20th. Canaccord Genuity set a $28.00 price objective on shares of Designer Brands and gave the company a “hold” rating in a report on Monday, March 18th. Finally, Telsey Advisory Group decreased their price objective on shares of Designer Brands from $30.00 to $26.00 and set a “market perform” rating for the company in a report on Wednesday, March 20th. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $28.73.
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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