Prudential Financial Inc. purchased a new stake in Designer Brands Inc (NYSE:DBI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 93,073 shares of the company’s stock, valued at approximately $1,784,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allianz Asset Management GmbH purchased a new stake in shares of Designer Brands in the second quarter valued at about $23,505,000. Investment Counselors of Maryland LLC acquired a new position in Designer Brands during the second quarter worth about $22,829,000. Robeco Institutional Asset Management B.V. acquired a new position in Designer Brands during the second quarter worth about $9,236,000. CWM LLC acquired a new position in Designer Brands during the second quarter worth about $9,144,000. Finally, Eagle Asset Management Inc. acquired a new position in Designer Brands during the second quarter worth about $6,281,000. 84.57% of the stock is owned by hedge funds and other institutional investors.

Shares of DBI stock traded down $0.22 during trading hours on Thursday, hitting $17.08. The company’s stock had a trading volume of 20,502 shares, compared to its average volume of 1,723,669. The stock has a fifty day moving average of $16.05. The firm has a market capitalization of $1.26 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 0.59 and a beta of 1.18. Designer Brands Inc has a twelve month low of $14.07 and a twelve month high of $34.63. The company has a current ratio of 1.42, a quick ratio of 0.34 and a debt-to-equity ratio of 1.56.

Designer Brands (NYSE:DBI) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $860.20 million during the quarter, compared to analyst estimates of $872.99 million. Designer Brands had a net margin of 1.53% and a return on equity of 14.92%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, analysts anticipate that Designer Brands Inc will post 1.9 earnings per share for the current fiscal year.

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

Several brokerages have weighed in on DBI. Needham & Company LLC set a $32.00 target price on shares of Designer Brands and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Susquehanna Bancshares upgraded shares of Designer Brands from a “neutral” rating to a “positive” rating and upped their target price for the stock from $18.00 to $27.00 in a research report on Monday. TheStreet lowered shares of Designer Brands from a “b-” rating to a “c+” rating in a research report on Monday, August 12th. ValuEngine lowered shares of Designer Brands from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 13th. Finally, Wedbush set a $22.00 target price on shares of Designer Brands and gave the stock a “hold” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $23.86.

In related news, Chairman Deborah L. Ferree sold 69,806 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $16.37, for a total transaction of $1,142,724.22. Also, Director Joanne Zaiac sold 3,688 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $19.14, for a total transaction of $70,588.32. The disclosure for this sale can be found here. 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.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

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

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