Herndon Capital Management LLC lowered its stake in shares of Ross Stores Inc. (NASDAQ:ROST) by 33.2% during the second quarter, Holdings Channel reports. The institutional investor owned 379,431 shares of the apparel retailer’s stock after selling 188,659 shares during the period. Herndon Capital Management LLC’s holdings in Ross Stores were worth $21,510,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Ross Stores by 6.4% in the first quarter. Geode Capital Management LLC now owns 3,674,224 shares of the apparel retailer’s stock worth $212,352,000 after buying an additional 221,806 shares in the last quarter. Riverhead Capital Management LLC raised its stake in Ross Stores by 33.9% in the first quarter. Riverhead Capital Management LLC now owns 486,433 shares of the apparel retailer’s stock worth $28,164,000 after buying an additional 123,096 shares in the last quarter. PCJ Investment Counsel Ltd. raised its stake in Ross Stores by 17.6% in the first quarter. PCJ Investment Counsel Ltd. now owns 10,000 shares of the apparel retailer’s stock worth $579,000 after buying an additional 1,500 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Ross Stores during the first quarter worth about $2,209,000. Finally, UBS Asset Management Americas Inc. raised its stake in Ross Stores by 9.6% in the first quarter. UBS Asset Management Americas Inc. now owns 3,601,453 shares of the apparel retailer’s stock worth $208,524,000 after buying an additional 315,801 shares in the last quarter. 90.20% of the stock is owned by institutional investors and hedge funds.
Shares of Ross Stores Inc. (NASDAQ:ROST) traded down 0.30% during midday trading on Wednesday, hitting $63.36. 3,018,958 shares of the company were exchanged. The company has a market capitalization of $25.13 billion, a P/E ratio of 24.12 and a beta of 0.94. Ross Stores Inc. has a one year low of $43.47 and a one year high of $66.28. The company has a 50-day moving average of $63.28 and a 200 day moving average of $59.01.
Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 18th. The apparel retailer reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.04. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.13 billion. Ross Stores had a net margin of 8.55% and a return on equity of 42.01%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. On average, equities research analysts expect that Ross Stores Inc. will post $2.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were issued a dividend of $0.135 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.54 dividend on an annualized basis and a yield of 0.85%. Ross Stores’s payout ratio is 20.53%.
Several research firms have weighed in on ROST. Zacks Investment Research lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Thursday, October 6th. Guggenheim reiterated a “buy” rating and issued a $70.00 price objective on shares of Ross Stores in a research note on Friday, September 30th. Bank of America Corp. set a $70.00 price objective on shares of Ross Stores and gave the company a “buy” rating in a research note on Monday, September 12th. Buckingham Research upgraded shares of Ross Stores from a “neutral” rating to a “buy” rating in a research note on Thursday, August 25th. Finally, MKM Partners reiterated a “buy” rating and issued a $72.00 price objective (up previously from $65.00) on shares of Ross Stores in a research note on Monday, August 22nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the company’s stock. Ross Stores currently has an average rating of “Buy” and a consensus target price of $65.25.
In other Ross Stores news, CEO Barbara Rentler sold 20,000 shares of Ross Stores stock in a transaction on Monday, September 19th. The shares were sold at an average price of $62.54, for a total transaction of $1,250,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James S. Fassio sold 12,000 shares of Ross Stores stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $63.35, for a total transaction of $760,200.00. 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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