LSV Asset Management Takes $3.02 Million Position in Designer Brands Inc (NYSE:DBI)

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LSV Asset Management purchased a new stake in shares of Designer Brands Inc (NYSE:DBI) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 157,400 shares of the company’s stock, valued at approximately $3,017,000. LSV Asset Management owned approximately 0.20% of Designer Brands at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Allianz Asset Management GmbH bought a new position in shares of Designer Brands during the second quarter valued at $23,505,000. Investment Counselors of Maryland LLC purchased a new stake in shares of Designer Brands during the second quarter valued at $22,829,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Designer Brands during the second quarter valued at $9,236,000. CWM LLC purchased a new stake in shares of Designer Brands during the second quarter valued at $9,144,000. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Designer Brands during the second quarter valued at $6,281,000. Hedge funds and other institutional investors own 78.49% of the company’s stock.

NYSE:DBI traded up $0.19 on Wednesday, hitting $15.59. The stock had a trading volume of 10,003 shares, compared to its average volume of 1,452,982. The stock has a market cap of $1.29 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 0.57 and a beta of 1.18. The company has a current ratio of 1.42, a quick ratio of 0.43 and a debt-to-equity ratio of 1.56. The business has a 50-day moving average price of $16.52. Designer Brands Inc has a 52-week low of $14.07 and a 52-week high of $34.63.

Designer Brands (NYSE:DBI) last announced its earnings results on Thursday, August 29th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $860.20 million during the quarter, compared to analysts’ expectations of $872.99 million. Designer Brands had a return on equity of 14.92% and a net margin of 1.53%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 earnings per share. Equities analysts forecast that Designer Brands Inc will post 1.92 EPS for the current fiscal year.

The company also recently announced a — dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a yield of 6.1%. Designer Brands’s payout ratio is 60.24%.

In other Designer Brands news, Chairman Deborah L. Ferree sold 70,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $18.87, for a total value of $1,320,900.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Harvey L. Sonnenberg sold 7,924 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $18.29, for a total value of $144,929.96. The disclosure for this sale can be found here. Insiders sold 81,612 shares of company stock worth $1,536,418 over the last three months. Insiders own 17.40% of the company’s stock.

Several research firms recently commented on DBI. Telsey Advisory Group dropped their price objective on Designer Brands from $26.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. Needham & Company LLC set a $32.00 price objective on Designer Brands and gave the company a “buy” rating in a research report on Thursday, August 22nd. Susquehanna Bancshares set a $18.00 price objective on Designer Brands and gave the company a “hold” rating in a research report on Friday, August 30th. Canaccord Genuity dropped their price objective on Designer Brands from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. Finally, TheStreet cut Designer Brands from a “b-” rating to a “c+” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Designer Brands has a consensus rating of “Hold” and a consensus target price of $22.57.

Designer Brands Profile

Designer Brands Inc designs, producers, and retails footwear and accessories for women, men, and kids primarily in North America. It operates through three segments: The U.S. Retail, the Canada Retail, and the Brand Portfolio. The company also provides handbags, hosiery, jewelry, and other accessories.

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Institutional Ownership by Quarter for Designer Brands (NYSE:DBI)

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