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.

CITADEL INVESTMENT GROUP

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

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!