Magnetically doped semiconductors are well known for their giant Zeeman splittings which can reach several meV even in relatively small external magnetic fields. After preparing a nonequilibrium exciton distribution via optical excitation, the spin dynamics in diluted magnetic semiconductor quantum wells is typically governed by spin-flip scattering processes due to the exciton-impurity exchange interaction. Our theoretical calculations show that the giant Zeeman splitting in these materials in combination with the influence of longitudinal acoustic phonons lead to a quantum ratchet-type dynamics, resulting in an almost complete reversal of the carrier spin polarization at very low temperatures. Furthermore, we find that the predictions of a much simpler rate-equation approach qualitatively agree with a more advanced and numerically demanding quantum kinetic description of the spin dynamics for a wide range of temperatures, although quantitative difference are noticeable.