Toronto Dominion Bank Increases Holdings in Ross Stores, Inc. (ROST)

Toronto Dominion Bank raised its stake in Ross Stores, Inc. (NASDAQ:ROST) by 24.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 135,821 shares of the apparel retailer’s stock after purchasing an additional 26,412 shares during the quarter. Toronto Dominion Bank’s holdings in Ross Stores were worth $7,840,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its holdings in Ross Stores by 1,908.5% during the first quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock worth $1,742,545,000 after purchasing an additional 25,137,186 shares during the last quarter. Flossbach Von Storch AG raised its holdings in Ross Stores by 7,335.3% during the second quarter. Flossbach Von Storch AG now owns 5,000,270 shares of the apparel retailer’s stock worth $288,666,000 after purchasing an additional 4,933,020 shares during the last quarter. Janus Henderson Group PLC increased its position in Ross Stores by 3,501.6% during the second quarter. Janus Henderson Group PLC now owns 1,942,654 shares of the apparel retailer’s stock worth $112,149,000 after buying an additional 1,888,715 shares in the last quarter. Alliancebernstein L.P. increased its position in Ross Stores by 68.4% during the second quarter. Alliancebernstein L.P. now owns 4,604,774 shares of the apparel retailer’s stock worth $265,834,000 after buying an additional 1,870,314 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Ross Stores by 393.0% during the second quarter. Renaissance Technologies LLC now owns 1,573,128 shares of the apparel retailer’s stock worth $90,817,000 after buying an additional 1,254,028 shares in the last quarter. 90.38% of the stock is owned by institutional investors and hedge funds.

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In other news, CEO Barbara Rentler sold 15,492 shares of Ross Stores stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total value of $945,012.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian R. Morrow sold 6,157 shares of Ross Stores stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total value of $402,052.10. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Several equities analysts have weighed in on the company. Royal Bank Of Canada reissued a “hold” rating and set a $62.00 price target on shares of Ross Stores in a research report on Monday, September 18th. Wolfe Research lowered their price target on Ross Stores from $76.00 to $73.00 and set an “outperform” rating for the company in a research report on Friday, August 18th. Zacks Investment Research downgraded Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. BMO Capital Markets set a $65.00 price target on Ross Stores and gave the company a “hold” rating in a research report on Tuesday, August 8th. Finally, Bank of America Corporation restated a “buy” rating and set a $80.00 price objective on shares of Ross Stores in a research note on Sunday, August 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. Ross Stores currently has a consensus rating of “Buy” and an average price target of $70.21.

Shares of Ross Stores, Inc. (ROST) traded down 0.7314% during midday trading on Friday, hitting $63.7999. The stock had a trading volume of 718,539 shares. Ross Stores, Inc. has a 52 week low of $52.85 and a 52 week high of $69.81. The stock has a 50-day moving average of $62.82 and a 200 day moving average of $60.40. The stock has a market cap of $24.60 billion, a PE ratio of 21.0700 and a beta of 1.14.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. Ross Stores had a return on equity of 42.95% and a net margin of 8.87%. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts anticipate that Ross Stores, Inc. will post $3.23 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, September 7th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.00%. Ross Stores’s dividend payout ratio (DPR) is 21.12%.

Ross Stores Company 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.

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

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