Calamos Advisors LLC increased its stake in shares of Ross Stores Inc. (NASDAQ:ROST) by 1,761.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 756,481 shares of the apparel retailer’s stock after buying an additional 715,847 shares during the period. Calamos Advisors LLC’s holdings in Ross Stores were worth $42,885,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. NN Investment Partners Holdings N.V. acquired a new position in Ross Stores during the first quarter valued at approximately $140,000. Carroll Financial Associates Inc. raised its stake in shares of Ross Stores by 0.7% in the second quarter. Carroll Financial Associates Inc. now owns 2,605 shares of the apparel retailer’s stock valued at $147,000 after buying an additional 17 shares in the last quarter. Independent Portfolio Consultants Inc. purchased a new stake in shares of Ross Stores during the second quarter valued at approximately $151,000. Citizens Financial Group Inc RI raised its stake in shares of Ross Stores by 51.6% in the first quarter. Citizens Financial Group Inc RI now owns 2,737 shares of the apparel retailer’s stock valued at $159,000 after buying an additional 931 shares in the last quarter. Finally, Springbok Capital Management LLC purchased a new stake in shares of Ross Stores during the first quarter valued at approximately $160,000. Institutional investors and hedge funds own 90.21% of the company’s stock.
Shares of Ross Stores Inc. (NASDAQ:ROST) traded up 0.99% during trading on Tuesday, hitting $64.39. The stock had a trading volume of 2,200,689 shares. Ross Stores Inc. has a 52 week low of $43.47 and a 52 week high of $66.28. The stock’s 50 day moving average is $62.68 and its 200 day moving average is $58.32. The stock has a market capitalization of $25.54 billion, a price-to-earnings ratio of 24.51 and a beta of 0.84.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 18th. The apparel retailer reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. Ross Stores had a return on equity of 42.01% and a net margin of 8.55%. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts expect that Ross Stores Inc. will post $2.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Wednesday, August 31st. Ross Stores’s dividend payout ratio (DPR) is presently 20.53%.
Several equities research analysts have commented on ROST shares. Bank of America Corp. set a $70.00 price target on Ross Stores and gave the stock a “buy” rating in a research note on Monday, September 12th. Wedbush upped their price target on Ross Stores from $65.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, August 19th. Citigroup Inc. upped their price target on Ross Stores from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Royal Bank Of Canada upped their price target on Ross Stores from $56.00 to $65.00 and gave the stock a “sector perform” rating in a research note on Friday, August 19th. Finally, Buckingham Research upgraded Ross Stores from a “neutral” rating to a “buy” rating in a research note on Thursday, August 25th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $65.09.
In other Ross Stores news, insider James S. Fassio sold 12,000 shares of Ross Stores stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $63.35, for a total transaction of $760,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director George Orban sold 56,000 shares of Ross Stores stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $57.52, for a total value of $3,221,120.00. Following the sale, the director now directly owns 506,750 shares in the company, valued at $29,148,260. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
About Ross Stores
Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.
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