Designer Brands (NYSE:DBI) Hits New 52-Week Low After Insider Selling

Designer Brands Inc (NYSE:DBI) reached a new 52-week low during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $17.96 and last traded at $17.99, with a volume of 34174 shares. The stock had previously closed at $18.63.

Specifically, Chairman Deborah L. Ferree sold 70,000 shares of Designer Brands stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harvey L. Sonnenberg sold 7,924 shares of Designer Brands stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $18.29, for a total value of $144,929.96. The disclosure for this sale can be found here. 17.40% of the stock is currently owned by company insiders.

A number of research firms have issued reports on DBI. ValuEngine downgraded Designer Brands from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 29th. TheStreet raised Designer Brands from a “c” rating to a “b-” rating in a research note on Thursday, May 30th. Zacks Investment Research raised Designer Brands from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Monday, June 3rd. Canaccord Genuity reduced their price objective 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. Finally, CL King raised Designer Brands from a “buy” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $23.25.



The company has a quick ratio of 0.43, a current ratio of 1.50 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $1.48 billion, a PE ratio of 10.81, a P/E/G ratio of 0.66 and a beta of 1.25.

Designer Brands (NYSE:DBI) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.43 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.43. Designer Brands had a positive return on equity of 15.85% and a negative net margin of 0.41%. The business had revenue of $878.52 million for the quarter, compared to the consensus estimate of $874.97 million. During the same quarter in the previous year, the company posted $0.39 EPS. The company’s revenue was up 23.4% compared to the same quarter last year. Equities analysts predict that Designer Brands Inc will post 1.92 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Wednesday, June 19th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.57%. The ex-dividend date of this dividend is Tuesday, June 18th. Designer Brands’s payout ratio is 60.24%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new position in shares of Designer Brands during the 1st quarter valued at approximately $26,000. Advisory Services Network LLC bought a new position in shares of Designer Brands during the 1st quarter valued at approximately $37,000. Prime Capital Investment Advisors LLC bought a new position in shares of Designer Brands during the 1st quarter valued at approximately $56,000. Cerebellum GP LLC bought a new position in shares of Designer Brands during the 1st quarter valued at approximately $327,000. Finally, Mason Street Advisors LLC bought a new position in shares of Designer Brands during the 1st quarter valued at approximately $487,000. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

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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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