Zacks Investment Research cut shares of DSW Inc. (NYSE:DSW) from a buy rating to a hold rating in a report issued on Friday.

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 brokerages have also commented on DSW. B. Riley reiterated a neutral rating and issued a $23.00 price objective on shares of DSW in a research report on Wednesday, August 31st. Canaccord Genuity reiterated a hold rating and issued a $23.00 price objective (up from $19.00) on shares of DSW in a research report on Monday, August 29th. They noted that the move was a valuation call. Telsey Advisory Group decreased their price objective on DSW from $27.00 to $25.00 and set a market perform rating on the stock in a research report on Wednesday, August 31st. Susquehanna started coverage on DSW in a research report on Thursday, September 15th. They issued a negative rating and a $19.00 price objective on the stock. Finally, Standpoint Research started coverage on DSW in a research report on Friday, November 4th. They issued a buy rating and a $28.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. DSW presently has an average rating of Hold and a consensus target price of $24.64.

Analyst Recommendations for DSW (NYSE:DSW)

DSW (NYSE:DSW) opened at 23.71 on Friday. DSW has a 12 month low of $18.51 and a 12 month high of $29.53. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 18.61 and a beta of 0.72. The firm’s 50-day moving average price is $21.95 and its 200-day moving average price is $22.34.

DSW (NYSE:DSW) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. The firm had revenue of $697 million for the quarter, compared to analyst estimates of $710.42 million. DSW had a return on equity of 12.45% and a net margin of 3.90%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. Equities research analysts predict that DSW will post $1.40 earnings per share for the current year.

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The company also recently declared 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. This represents a $0.80 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Wednesday, December 14th. DSW’s dividend payout ratio is 62.99%.

In other DSW news, EVP William L. Jordan sold 42,423 shares of DSW stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $25.00, for a total value of $1,060,575.00. Following the sale, the executive vice president now owns 72,333 shares of the company’s stock, valued at approximately $1,808,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Deborah L. Ferree sold 114,854 shares of DSW stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $24.88, for a total value of $2,857,567.52. Following the completion of the sale, the chairman now directly owns 228,774 shares in the company, valued at approximately $5,691,897.12. The disclosure for this sale can be found here. 20.30% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in DSW. Americafirst Capital Management LLC bought a new stake in DSW during the second quarter worth about $107,000. NEXT Financial Group Inc bought a new stake in DSW during the third quarter worth about $123,000. MSI Financial Services Inc increased its stake in DSW by 2.9% in the third quarter. MSI Financial Services Inc now owns 6,703 shares of the company’s stock worth $137,000 after buying an additional 190 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in DSW by 100.0% in the third quarter. PNC Financial Services Group Inc. now owns 7,200 shares of the company’s stock worth $147,000 after buying an additional 3,600 shares in the last quarter. Finally, Pacad Investment Ltd. bought a new stake in DSW during the second quarter worth about $159,000. 85.00% of the stock is currently owned by hedge funds and other institutional investors.

About DSW

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.

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