TD Asset Management Inc. increased its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 11.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 782,878 shares of the apparel retailer’s stock after purchasing an additional 83,271 shares during the quarter. TD Asset Management Inc.’s holdings in Ross Stores were worth $72,886,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ROST. Morgan Stanley grew its position in Ross Stores by 69.0% in the 3rd quarter. Morgan Stanley now owns 2,201,584 shares of the apparel retailer’s stock valued at $218,178,000 after purchasing an additional 898,614 shares during the period. Quadrant Capital Group LLC boosted its holdings in Ross Stores by 21.4% during the 4th quarter. Quadrant Capital Group LLC now owns 997 shares of the apparel retailer’s stock worth $73,000 after acquiring an additional 176 shares during the last quarter. Eukles Asset Management purchased a new position in Ross Stores during the 4th quarter worth $362,000. Strs Ohio boosted its holdings in Ross Stores by 3.4% during the 4th quarter. Strs Ohio now owns 416,963 shares of the apparel retailer’s stock worth $34,691,000 after acquiring an additional 13,894 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Ross Stores by 324.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 200,469 shares of the apparel retailer’s stock worth $16,679,000 after acquiring an additional 153,187 shares during the last quarter. 91.02% of the stock is owned by institutional investors.
In related news, EVP Michael J. Hartshorn sold 9,924 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $91.48, for a total value of $907,847.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bernard G. Brautigan sold 19,384 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $93.56, for a total value of $1,813,567.04. The disclosure for this sale can be found here. Insiders have sold a total of 137,054 shares of company stock worth $12,504,328 over the last quarter. Company insiders own 2.30% of the company’s stock.
Shares of NASDAQ ROST traded down $0.06 during mid-day trading on Tuesday, reaching $96.61. 92,658 shares of the company’s stock were exchanged, compared to its average volume of 2,215,454. The stock has a market capitalization of $35.72 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.08 and a beta of 0.89. Ross Stores, Inc. has a 52 week low of $75.91 and a 52 week high of $104.35. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 0.82.
Ross Stores (NASDAQ:ROST) last released its earnings results on Tuesday, March 5th. The apparel retailer reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.07. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Ross Stores had a return on equity of 49.58% and a net margin of 10.60%. Research analysts expect that Ross Stores, Inc. will post 4.5 EPS for the current fiscal year.
Ross Stores announced that its Board of Directors has initiated a share buyback plan on Tuesday, March 5th that permits the company to repurchase $2.55 billion in outstanding shares. This repurchase authorization permits the apparel retailer to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
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Ross Stores Profile
Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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