Designer Brands (NYSE:DBI) Hits New 12-Month Low After Insider Selling
Designer Brands Inc (NYSE:DBI) hit a new 52-week low on Wednesday following insider selling activity. The stock traded as low as $17.96 and last traded at $17.99, with a volume of 34174 shares trading hands. The stock had previously closed at $18.63.
Specifically, Director Harvey L. Sonnenberg sold 7,924 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $18.29, for a total transaction of $144,929.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Deborah L. Ferree sold 70,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $18.87, for a total transaction of $1,320,900.00. The disclosure for this sale can be found here. Company insiders own 17.40% of the company’s stock.
A number of analysts have commented on DBI shares. Canaccord Genuity dropped their price target on shares of Designer Brands from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. ValuEngine downgraded shares of Designer Brands from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 29th. Wedbush lowered their price objective on shares of Designer Brands from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Zacks Investment Research upgraded shares of Designer Brands from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Monday, June 3rd. Finally, CL King upgraded shares of Designer Brands from a “buy” rating to a “strong-buy” rating and set a $23.00 target price for the company in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $23.25.
Designer Brands (NYSE:DBI) last released its earnings results on Thursday, May 30th. The company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. Designer Brands had a negative net margin of 0.41% and a positive return on equity of 15.85%. The business had revenue of $878.52 million during the quarter, compared to analysts’ expectations of $874.97 million. During the same period last year, the business earned $0.39 earnings per share. The firm’s revenue was up 23.4% on a year-over-year basis. On average, equities analysts predict that Designer Brands Inc will post 1.92 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Wednesday, June 19th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date of this dividend is Tuesday, June 18th. Designer Brands’s dividend payout ratio is currently 60.24%.
A number of hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc bought a new stake in shares of Designer Brands during the first quarter worth about $26,000. Advisory Services Network LLC acquired a new position in shares of Designer Brands in the first quarter worth approximately $37,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Designer Brands in the first quarter worth approximately $56,000. Cerebellum GP LLC acquired a new position in Designer Brands in the first quarter valued at approximately $327,000. Finally, Mason Street Advisors LLC acquired a new position in Designer Brands in the first quarter valued at approximately $487,000. 79.48% of the stock is owned by institutional investors and hedge funds.
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Designer Brands Company Profile (NYSE:DBI)
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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