Ross Stores, Inc. (NASDAQ:ROST) Shares Purchased by D. E. Shaw & Co. Inc.

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D. E. Shaw & Co. Inc. raised its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 74.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,308,687 shares of the apparel retailer’s stock after purchasing an additional 559,338 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Ross Stores were worth $129,717,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Point72 Hong Kong Ltd acquired a new stake in shares of Ross Stores in the second quarter worth approximately $327,000. Cubist Systematic Strategies LLC grew its stake in shares of Ross Stores by 157.0% in the second quarter. Cubist Systematic Strategies LLC now owns 120,998 shares of the apparel retailer’s stock valued at $11,993,000 after buying an additional 73,913 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Ross Stores in the second quarter valued at $482,000. Wedgewood Partners Inc. grew its stake in Ross Stores by 12.8% during the 2nd quarter. Wedgewood Partners Inc. now owns 412,105 shares of the apparel retailer’s stock worth $40,847,000 after purchasing an additional 46,609 shares in the last quarter. Finally, Harfst & Associates Inc. boosted its position in shares of Ross Stores by 40.5% during the 2nd quarter. Harfst & Associates Inc. now owns 6,600 shares of the apparel retailer’s stock worth $654,000 after acquiring an additional 1,903 shares in the last quarter. 88.93% of the stock is currently owned by institutional investors.

ROST has been the subject of several research reports. Telsey Advisory Group downgraded Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 target price for the company. in a report on Monday, June 24th. Jefferies Financial Group set a $100.00 target price on Ross Stores and gave the company a “hold” rating in a report on Friday, August 23rd. Bank of America set a $120.00 target price on Ross Stores and gave the company a “buy” rating in a report on Friday, August 23rd. Citigroup boosted their target price on Ross Stores from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, Cowen set a $116.00 target price on Ross Stores and gave the company a “buy” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Ross Stores has an average rating of “Buy” and an average price target of $107.61.

In other Ross Stores news, Director George Orban sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $102.50, for a total transaction of $102,500.00. Following the completion of the sale, the director now directly owns 543,939 shares of the company’s stock, valued at approximately $55,753,747.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James S. Fassio sold 85,238 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $104.85, for a total value of $8,937,204.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,238 shares of company stock valued at $14,787,014. 2.30% of the stock is owned by company insiders.

ROST traded down $3.86 on Friday, hitting $104.75. 2,654,081 shares of the company traded hands, compared to its average volume of 2,032,073. The company has a 50 day moving average of $105.68 and a 200-day moving average of $99.80. The company has a quick ratio of 0.63, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $39.32 billion, a PE ratio of 24.59, a PEG ratio of 2.30 and a beta of 0.84. Ross Stores, Inc. has a 12-month low of $75.91 and a 12-month high of $110.88.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.02. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.96 billion. Ross Stores had a return on equity of 49.21% and a net margin of 10.46%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 EPS. On average, research analysts anticipate that Ross Stores, Inc. will post 4.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Wednesday, September 11th. Ross Stores’s dividend payout ratio is presently 23.94%.

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.

Further Reading: Why does a company issue an IPO?

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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