Ken Griffin’s Citadel Investment Group Ups Passive Stake in DSW Inc.

Citadel Investment Group, managed by Ken Griffin, has revealed upping its position in DSW Inc. (NYSE:DSW). According to a new filing with the U.S. Securities and Exchange Commission, the fund owns 4.54 million shares of class A common stock, up from 4.48 million shares reported previously. The stake is equivalent to 5.5% of the class and is passive by nature.


DSW Inc. (NYSE:DSW) is a branded footwear and accessories retailer, having a market cap of $2.5 billion. For first quarter of 2014, the company reported net income of $38.6 million, or $0.42 per diluted share, compared to net income of $34.5 million, or $0.38 per diluted share, in the first quarter of 2013. For the 52-week fiscal year ending January 31, 2015, DSW Inc. (NYSE:DSW) expects adjusted earnings per share to range from $1.45 to $1.60 per share, according to statement.

Last month, DSW Inc. (NYSE:DSW) closed its initial acquisition of Town Shoes Limited, a footwear and accessories retailer in Canada. The company acquired a 49.2% interest in Town Shoes from the Alberta Investment Management Corporation and other minority shareholders for $68.7 million in cash.

The consensus average target price of DSW Inc. (NYSE:DSW) is $29.27, while the consensus average recommendation is ‘overweight.’

Other largest shareholders of DSW Inc. (NYSE:DSW) include Stephen Mandel’s Lone Pine Capital, which owns 6.95 million shares, and John Lykouretzos’ Hoplite Capital Management, which holds 3.27 million shares. Another investor Steven Cohen’s SAC Capital Advisors revealed ownership of 1.22 million shares of the company at the end of first quarter of 2014.

In its most recent 13F filing, Citadel Investment Group revealed an equity portfolio worth close to $72.51 billion, which was held as of the end of March 2013. The largest holding, in terms of value, was Citigroup Inc (NYSE:C), in which the fund holds around 9.92 million shares, with a reported value of $472.41 million.

Disclosure: none

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