Raymond James Financial Services Advisors Inc. cut its stake in Ross Stores, Inc. (NASDAQ:ROST) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 84,622 shares of the apparel retailer’s stock after selling 4,680 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Ross Stores were worth $4,885,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in ROST. BlackRock Inc. grew its position in shares of Ross Stores by 1,908.5% in the first quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock valued at $1,742,545,000 after purchasing an additional 25,137,186 shares in the last quarter. Flossbach Von Storch AG grew its position in shares of Ross Stores by 7,335.3% in the second quarter. Flossbach Von Storch AG now owns 5,000,270 shares of the apparel retailer’s stock valued at $288,666,000 after purchasing an additional 4,933,020 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Ross Stores by 3,501.6% in the second quarter. Janus Henderson Group PLC now owns 1,942,654 shares of the apparel retailer’s stock valued at $112,149,000 after purchasing an additional 1,888,715 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Ross Stores by 68.4% in the second quarter. Alliancebernstein L.P. now owns 4,604,774 shares of the apparel retailer’s stock valued at $265,834,000 after purchasing an additional 1,870,314 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Ross Stores by 393.0% in the second quarter. Renaissance Technologies LLC now owns 1,573,128 shares of the apparel retailer’s stock valued at $90,817,000 after purchasing an additional 1,254,028 shares in the last quarter. Institutional investors own 90.41% of the company’s stock.
Shares of Ross Stores, Inc. (NASDAQ:ROST) traded up 0.30% during trading on Friday, reaching $63.47. The company had a trading volume of 361,244 shares. Ross Stores, Inc. has a 1-year low of $52.85 and a 1-year high of $69.81. The company’s 50 day moving average is $61.68 and its 200-day moving average is $60.51. The stock has a market capitalization of $24.47 billion, a price-to-earnings ratio of 20.96 and a beta of 1.14.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.37 billion. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. On average, equities research analysts anticipate that Ross Stores, Inc. will post $3.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Thursday, September 7th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, September 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.01%. Ross Stores’s dividend payout ratio is presently 21.12%.
Several research firms recently commented on ROST. BidaskClub cut Ross Stores from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 17th. Royal Bank Of Canada set a $67.00 price target on Ross Stores and gave the stock a “hold” rating in a research note on Monday, June 19th. BMO Capital Markets set a $65.00 price target on Ross Stores and gave the stock a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Wednesday, July 12th. Finally, Telsey Advisory Group raised Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a research note on Friday, July 14th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Ross Stores presently has an average rating of “Buy” and a consensus target price of $70.17.
In related news, insider Brian R. Morrow sold 6,157 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total transaction of $402,052.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Barbara Rentler sold 15,492 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total transaction of $945,012.00. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Ross Stores Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST).
Receive News & Ratings for Ross Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores Inc. and related companies with MarketBeat.com's FREE daily email newsletter.