Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Designer Brands Inc (NYSE:DBI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,718 shares of the company’s stock, valued at approximately $71,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. purchased a new stake in Designer Brands during the second quarter worth $9,236,000. Skylands Capital LLC purchased a new stake in Designer Brands during the second quarter worth $5,542,000. Rothschild & Co. Asset Management US Inc. purchased a new stake in Designer Brands during the second quarter worth $5,295,000. Smith Graham & Co. Investment Advisors LP purchased a new stake in Designer Brands during the first quarter worth $5,915,000. Finally, Arizona State Retirement System purchased a new stake in Designer Brands during the second quarter worth $1,706,000. 82.76% of the stock is currently owned by hedge funds and other institutional investors.
DBI traded up $0.33 during midday trading on Thursday, hitting $14.93. 79,979 shares of the company traded hands, compared to its average volume of 1,372,081. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.50 and a quick ratio of 0.43. The stock has a market cap of $1.17 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 0.52 and a beta of 1.21. Designer Brands Inc has a 52-week low of $14.09 and a 52-week high of $34.63. The stock’s 50 day moving average price is $17.46.
A number of brokerages recently issued reports on DBI. ValuEngine downgraded shares of Designer Brands from a “sell” rating to a “strong sell” rating in a report on Thursday, June 13th. Zacks Investment Research downgraded shares of Designer Brands from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Wedbush lowered their price target on shares of Designer Brands from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, May 16th. TheStreet downgraded shares of Designer Brands from a “b-” rating to a “c+” rating in a report on Monday, August 12th. Finally, Canaccord Genuity lowered their price target on shares of Designer Brands from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. Designer Brands currently has an average rating of “Hold” and a consensus price target of $23.00.
In other Designer Brands news, Chairman Deborah L. Ferree sold 70,000 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $18.87, for a total transaction of $1,320,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Harvey L. Sonnenberg sold 7,924 shares of the 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,612 shares of company stock worth $1,536,418. Insiders own 17.40% of the company’s stock.
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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