Tiemann Investment Advisors LLC purchased a new position in Ross Stores, Inc. (NASDAQ:ROST) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,830 shares of the apparel retailer’s stock, valued at approximately $227,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Franklin Resources Inc. raised its position in Ross Stores by 0.7% in the fourth quarter. Franklin Resources Inc. now owns 5,999,599 shares of the apparel retailer’s stock worth $481,468,000 after acquiring an additional 41,093 shares during the period. Flossbach Von Storch AG raised its position in Ross Stores by 10.7% in the third quarter. Flossbach Von Storch AG now owns 5,533,170 shares of the apparel retailer’s stock worth $357,277,000 after acquiring an additional 532,900 shares during the period. Amundi Pioneer Asset Management Inc. raised its position in Ross Stores by 63.4% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 5,456,503 shares of the apparel retailer’s stock worth $437,885,000 after acquiring an additional 2,117,771 shares during the period. Bank of New York Mellon Corp raised its position in Ross Stores by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 5,265,781 shares of the apparel retailer’s stock worth $340,012,000 after acquiring an additional 85,983 shares during the period. Finally, Wells Fargo & Company MN raised its position in Ross Stores by 39.2% in the third quarter. Wells Fargo & Company MN now owns 3,658,907 shares of the apparel retailer’s stock worth $236,257,000 after acquiring an additional 1,029,990 shares during the period. Institutional investors and hedge funds own 89.58% of the company’s stock.
In related news, Chairman Michael Balmuth sold 59,777 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $76.53, for a total transaction of $4,574,733.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.
Several research analysts have weighed in on ROST shares. Morgan Stanley increased their price target on shares of Ross Stores from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Telsey Advisory Group increased their price target on shares of Ross Stores from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, November 17th. BidaskClub upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Jefferies Group set a $66.00 price target on shares of Ross Stores and gave the stock a “hold” rating in a research report on Saturday, November 18th. Finally, Zacks Investment Research downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Ross Stores currently has a consensus rating of “Buy” and a consensus target price of $81.86.
Ross Stores, Inc. (NASDAQ:ROST) opened at $77.18 on Thursday. The firm has a market cap of $29,425.24, a price-to-earnings ratio of 21.74, a P/E/G ratio of 1.91 and a beta of 1.09. Ross Stores, Inc. has a 52 week low of $52.85 and a 52 week high of $85.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 1.64.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.05. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.95 billion. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. equities analysts predict that Ross Stores, Inc. will post 4.03 EPS for the current fiscal year.
Ross Stores declared that its Board of Directors has approved a share repurchase program on Tuesday, March 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the apparel retailer to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Monday, March 19th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.17%. This is a boost from Ross Stores’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, March 16th. Ross Stores’s dividend payout ratio (DPR) is presently 18.03%.
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About Ross Stores
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.
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