BlackRock Inc. Raises Stake in DSW Inc. (DSW)

BlackRock Inc. boosted its position in DSW Inc. (NYSE:DSW) by 42,735.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,346,505 shares of the company’s stock after buying an additional 8,327,020 shares during the period. BlackRock Inc. owned approximately 0.10% of DSW worth $172,606,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in DSW. Ameritas Investment Partners Inc. purchased a new position in DSW during the first quarter worth about $120,000. State of Tennessee Treasury Department purchased a new position in DSW during the first quarter worth about $143,000. State of Alaska Department of Revenue purchased a new position in DSW during the first quarter worth about $154,000. PNC Financial Services Group Inc. boosted its position in DSW by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 7,483 shares of the company’s stock worth $155,000 after buying an additional 283 shares during the period. Finally, WBI Investments Inc. purchased a new position in DSW during the first quarter worth about $243,000. Hedge funds and other institutional investors own 89.52% of the company’s stock.

DSW Inc. (DSW) opened at 17.06 on Friday. The company has a market cap of $1.37 billion, a PE ratio of 11.84 and a beta of 0.83. DSW Inc. has a 12-month low of $15.98 and a 12-month high of $26.22. The company’s 50-day moving average price is $17.22 and its 200-day moving average price is $19.45.

DSW (NYSE:DSW) last issued its quarterly earnings data on Tuesday, May 23rd. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.01. DSW had a return on equity of 12.06% and a net margin of 4.32%. The firm had revenue of $691.10 million during the quarter, compared to the consensus estimate of $684.34 million. During the same period in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts anticipate that DSW Inc. will post $1.44 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date was Tuesday, June 13th. DSW’s payout ratio is 55.94%.

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A number of research firms have issued reports on DSW. B. Riley reiterated a “neutral” rating and set a $18.50 target price on shares of DSW in a report on Wednesday, May 24th. Canaccord Genuity decreased their price objective on DSW from $19.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, May 24th. BidaskClub upgraded DSW from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Telsey Advisory Group decreased their price objective on DSW from $22.00 to $19.00 and set a “market perform” rating for the company in a report on Wednesday, May 24th. Finally, ValuEngine cut DSW from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $21.64.

In other DSW news, Director Joanne Zaiac sold 4,219 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $17.82, for a total value of $75,182.58. Following the completion of the sale, the director now directly owns 4,313 shares of the company’s stock, valued at approximately $76,857.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harvey L. Sonnenberg sold 8,439 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $18.00, for a total transaction of $151,902.00. Following the completion of the sale, the director now directly owns 12,242 shares of the company’s stock, valued at $220,356. The disclosure for this sale can be found here. Corporate insiders own 20.40% of the company’s stock.

DSW Company Profile

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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Institutional Ownership by Quarter for DSW (NYSE:DSW)

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