Zacks Investment Research upgraded shares of DSW Inc. (NYSE:DSW) from a hold rating to a strong-buy rating in a research note released on Tuesday morning. The brokerage currently has $29.00 price objective on the stock.
According to Zacks, “DSW is a specialty branded footwear retailer operating DSW stores and also supplies, under supply arrangements, to related retailers and to other non-related retailers in the United States. “
A number of other equities analysts have also recently weighed in on DSW. Telsey Advisory Group increased their price objective on shares of DSW from $23.00 to $27.00 and gave the stock a market perform rating in a research report on Thursday, August 25th. Canaccord Genuity reaffirmed a hold rating and set a $23.00 price objective (up previously from $19.00) on shares of DSW in a research report on Monday, August 29th. They noted that the move was a valuation call. B. Riley reaffirmed a neutral rating and set a $23.00 price objective on shares of DSW in a research report on Wednesday, August 31st. Citigroup Inc. increased their price objective on shares of DSW from $20.00 to $24.00 and gave the stock a neutral rating in a research report on Wednesday, August 31st. Finally, Credit Suisse Group AG reissued a hold rating and issued a $23.00 price target on shares of DSW in a research report on Wednesday, August 31st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of Hold and an average target price of $24.52.
DSW (NYSE:DSW) opened at 25.00 on Tuesday. DSW has a 12 month low of $18.51 and a 12 month high of $29.53. The stock’s 50 day moving average price is $21.69 and its 200-day moving average price is $22.34. The firm has a market capitalization of $2.06 billion, a P/E ratio of 19.95 and a beta of 0.72.
DSW (NYSE:DSW) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. The firm earned $697 million during the quarter, compared to analysts’ expectations of $710.42 million. DSW had a net margin of 3.90% and a return on equity of 12.45%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $0.44 EPS. Equities analysts forecast that DSW will post $1.40 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.20%. DSW’s dividend payout ratio is presently 62.99%.
In other DSW news, EVP William L. Jordan sold 42,423 shares of DSW stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $25.00, for a total value of $1,060,575.00. Following the transaction, the executive vice president now directly owns 72,333 shares in the company, valued at $1,808,325. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Harvey L. Sonnenberg sold 8,000 shares of DSW stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $23.50, for a total transaction of $188,000.00. Following the completion of the sale, the director now directly owns 20,142 shares in the company, valued at approximately $473,337. The disclosure for this sale can be found here. 20.30% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of DSW. Adage Capital Partners GP L.L.C. purchased a new stake in shares of DSW during the third quarter valued at $40,960,000. BlackRock Fund Advisors increased its stake in shares of DSW by 143.4% in the second quarter. BlackRock Fund Advisors now owns 1,647,457 shares of the company’s stock valued at $34,893,000 after buying an additional 970,513 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of DSW by 1,165.2% in the second quarter. Point72 Asset Management L.P. now owns 846,400 shares of the company’s stock valued at $17,927,000 after buying an additional 779,500 shares during the last quarter. Morgan Stanley increased its stake in shares of DSW by 970.8% in the third quarter. Morgan Stanley now owns 762,555 shares of the company’s stock valued at $15,617,000 after buying an additional 691,340 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of DSW by 856.5% in the second quarter. Citigroup Inc. now owns 753,222 shares of the company’s stock valued at $15,954,000 after buying an additional 674,476 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.
DSW Inc is a footwear retailer. The Company offers assortment of shoes, handbags and accessories for women, men and children. The Company operates through two segments: the DSW segment and the Affiliated Business Group (ABG) segment. The DSW segment includes DSW stores and dsw.com. The Company, through its ABG segment, partners with approximately three other retailers to help build and optimize their footwear businesses.