Norges Bank Invests $39.62 Million in Designer Brands Inc (NYSE:DSW)

Norges Bank bought a new stake in Designer Brands Inc (NYSE:DSW) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,604,164 shares of the company’s stock, valued at approximately $39,623,000. Norges Bank owned 2.00% of Designer Brands as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DSW. BlackRock Inc. raised its stake in Designer Brands by 2.6% during the fourth quarter. BlackRock Inc. now owns 10,023,740 shares of the company’s stock worth $247,584,000 after purchasing an additional 253,234 shares during the period. Vanguard Group Inc. raised its stake in shares of Designer Brands by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,039,629 shares of the company’s stock valued at $238,504,000 after acquiring an additional 62,377 shares during the period. Vanguard Group Inc raised its stake in shares of Designer Brands by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 7,039,629 shares of the company’s stock valued at $238,504,000 after acquiring an additional 62,377 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Designer Brands by 0.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,413,094 shares of the company’s stock valued at $47,876,000 after acquiring an additional 10,441 shares during the period. Finally, Squarepoint Ops LLC raised its stake in shares of Designer Brands by 7.3% in the 4th quarter. Squarepoint Ops LLC now owns 1,085,759 shares of the company’s stock valued at $26,818,000 after acquiring an additional 73,532 shares during the period. Institutional investors and hedge funds own 84.64% of the company’s stock.

In other news, CEO Roger Rawlins sold 21,463 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,024,938.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.70% of the company’s stock.

A number of brokerages recently weighed in on DSW. TheStreet cut shares of Designer Brands from a “b” rating to a “c” rating in a report on Wednesday, March 20th. ValuEngine upgraded shares of Designer Brands from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. 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. Zacks Investment Research cut shares of Designer Brands from a “strong-buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, Telsey Advisory Group cut 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 research report on Wednesday, March 20th. Thirteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Designer Brands presently has a consensus rating of “Hold” and a consensus target price of $28.73.

Shares of DSW opened at $22.50 on Monday. The company has a quick ratio of 0.67, a current ratio of 2.06 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.81 billion, a PE ratio of 13.55, a P/E/G ratio of 1.35 and a beta of 1.09. Designer Brands Inc has a 52-week low of $20.21 and a 52-week high of $34.63.

Designer Brands (NYSE:DSW) last announced its quarterly 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 company 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%. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. On average, equities research analysts forecast that Designer Brands Inc will post 1.86 EPS for the current fiscal year.

The business also recently declared 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 dividend payout ratio is presently 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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Institutional Ownership by Quarter for Designer Brands (NYSE:DSW)

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