Designer Brands (DBI) Declares $0.05 Dividend
Designer Brands said on March 16, 2023 that its board of directors declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Previously, the company paid $0.05 per share.
Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 14, 2023.
At the current share price of $9.32 / share, the stock's dividend yield is 2.15%. Looking back five years and taking a sample every week, the average dividend yield has been 4.21%, the lowest has been 1.10%, and the highest has been 16.81%. The standard deviation of yields is 2.22 (n=148).
The current dividend yield is 0.93 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.80%.
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Analyst Price Forecast Suggests 49.57% Upside
As of March 16, 2023, the average one-year price target for Designer Brands is $13.94. The forecasts range from a low of $11.11 to a high of $16.80. The average price target represents an increase of 49.57% from its latest reported closing price of $9.32.
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The projected annual revenue for Designer Brands is $3,357MM, a decrease of 0.61%. The projected annual non-GAAP EPS is $1.79.
What is the Fund Sentiment?
There are 467 funds or institutions reporting positions in Designer Brands. This is a decrease of 16 owner(s) or 3.31% in the last quarter. Average portfolio weight of all funds dedicated to DBI is 0.11%, a decrease of 21.02%. Total shares owned by institutions decreased in the last three months by 3.20% to 57,781K shares. The put/call ratio of DBI is 0.43, indicating a bullish outlook.
What are Large Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,769K shares representing 5.92% ownership of the company. In it's prior filing, the firm reported owning 4,124K shares, representing a decrease of 9.43%. The firm decreased its portfolio allocation in DBI by 46.89% over the last quarter.
Towle & holds 2,186K shares representing 3.44% ownership of the company. In it's prior filing, the firm reported owning 2,196K shares, representing a decrease of 0.47%. The firm decreased its portfolio allocation in DBI by 47.98% over the last quarter.
Bank of New York Mellon holds 2,175K shares representing 3.42% ownership of the company. In it's prior filing, the firm reported owning 1,703K shares, representing an increase of 21.71%. The firm decreased its portfolio allocation in DBI by 86.19% over the last quarter.
William Blair Investment Management holds 2,048K shares representing 3.22% ownership of the company. In it's prior filing, the firm reported owning 2,094K shares, representing a decrease of 2.28%. The firm decreased its portfolio allocation in DBI by 99.94% over the last quarter.
Aristotle Capital Boston holds 1,710K shares representing 2.69% ownership of the company. In it's prior filing, the firm reported owning 1,754K shares, representing a decrease of 2.56%. The firm decreased its portfolio allocation in DBI by 41.86% over the last quarter.
Designer Brands Background Information
(This description is provided by the company.)
Designer Brands is one of North America'slargest designers, producers and retailers of footwear and accessories. The Company operates a portfolio of retail concepts in nearly 700 locations under the DSW Designer Shoe Warehouse®, The Shoe Company® and Shoe Warehouse® banners. The Company designs and produces footwear and accessories through Camuto Group, a leading manufacturer selling in more than 5,400 stores worldwide. Camuto Group owns licensing rights for the Jessica Simpson® footwear business and footwear and handbag licenses for Lucky Brand®. In partnership with a joint venture with Authentic Brands Group, the Company also owns a stake in Vince Camuto®, Louise et Cie®, and others.
This story originally appeared on Fintel.