Prudential Financial Inc. Takes $1.78 Million Position in Designer Brands Inc (NYSE:DBI)

Prudential Financial Inc. acquired a new stake in Designer Brands Inc (NYSE:DBI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 93,073 shares of the company’s stock, valued at approximately $1,784,000. Prudential Financial Inc. owned approximately 0.12% of Designer Brands as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Advisors Preferred LLC purchased a new position in shares of Designer Brands in the second quarter valued at about $26,000. Truvestments Capital LLC purchased a new position in shares of Designer Brands in the second quarter valued at about $27,000. Advisory Services Network LLC purchased a new position in shares of Designer Brands in the first quarter valued at about $37,000. LS Investment Advisors LLC purchased a new position in shares of Designer Brands in the second quarter valued at about $34,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Designer Brands in the second quarter valued at about $71,000. Institutional investors and hedge funds own 84.57% of the company’s stock.

A number of equities research analysts recently commented on DBI shares. Wedbush set a $22.00 target price on Designer Brands and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Telsey Advisory Group cut their target price on Designer Brands from $26.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. Canaccord Genuity cut their target price on Designer Brands from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, May 31st. Needham & Company LLC set a $32.00 target price on Designer Brands and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, TheStreet cut Designer Brands from a “b-” rating to a “c+” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $23.86.

NYSE:DBI traded down $0.22 during midday trading on Thursday, hitting $17.08. The stock had a trading volume of 20,502 shares, compared to its average volume of 1,723,669. The company’s 50-day simple moving average is $16.05. The company has a quick ratio of 0.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $1.26 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 0.59 and a beta of 1.18. Designer Brands Inc has a one year low of $14.07 and a one year high of $34.63.

Designer Brands (NYSE:DBI) last posted its earnings results on Thursday, August 29th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $860.20 million for 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 firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. As a group, research analysts predict that Designer Brands Inc will post 1.9 EPS for the current year.

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

In other news, Director Joanne Zaiac sold 3,688 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $19.14, for a total transaction of $70,588.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Deborah L. Ferree sold 69,806 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $16.37, for a total value of $1,142,724.22. 17.40% of the stock is owned by corporate insiders.

Designer Brands Company 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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