Hahn Capital Management LLC lessened its holdings in Ross Stores (NASDAQ:ROST) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 570,037 shares of the apparel retailer’s stock after selling 9,045 shares during the period. Ross Stores comprises about 4.3% of Hahn Capital Management LLC’s portfolio, making the stock its 4th largest holding. Hahn Capital Management LLC owned 0.15% of Ross Stores worth $45,745,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Ross Stores by 63.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,456,503 shares of the apparel retailer’s stock worth $437,885,000 after purchasing an additional 2,117,771 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Ross Stores by 8,982.4% during the 3rd quarter. Nordea Investment Management AB now owns 1,617,840 shares of the apparel retailer’s stock worth $104,464,000 after purchasing an additional 1,600,027 shares during the last quarter. Rockefeller Financial Services Inc. acquired a new position in shares of Ross Stores during the 4th quarter worth approximately $117,845,000. Wells Fargo & Company MN boosted its holdings in shares of Ross Stores by 39.2% during the 3rd quarter. Wells Fargo & Company MN now owns 3,658,907 shares of the apparel retailer’s stock worth $236,257,000 after purchasing an additional 1,029,990 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Ross Stores by 58.1% during the 4th quarter. Millennium Management LLC now owns 2,005,253 shares of the apparel retailer’s stock worth $160,922,000 after purchasing an additional 736,599 shares during the last quarter. Institutional investors own 89.58% of the company’s stock.
NASDAQ:ROST opened at $77.45 on Friday. The firm has a market capitalization of $29,778.23, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 1.95 and a beta of 1.08. 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 has a 12 month low of $52.85 and a 12 month high of $85.66.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.95 billion. analysts predict that Ross Stores will post 4.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Monday, March 19th were paid a dividend of $0.225 per share. This is an increase from Ross Stores’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, March 16th. This represents a $0.90 annualized dividend and a dividend yield of 1.16%. Ross Stores’s dividend payout ratio is 26.95%.
Ross Stores announced that its Board of Directors has approved a share buyback plan on Tuesday, March 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the apparel retailer to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several research analysts have recently weighed in on ROST shares. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Zacks Investment Research cut Ross Stores from a “buy” rating to a “hold” rating in a report on Friday, March 9th. Wells Fargo reiterated a “buy” rating and issued a $86.00 price objective (down from $91.00) on shares of Ross Stores in a report on Wednesday, March 7th. Cowen set a $85.00 price objective on Ross Stores and gave the company a “buy” rating in a report on Tuesday, March 6th. Finally, Deutsche Bank set a $92.00 price objective on Ross Stores and gave the company a “buy” rating in a report on Wednesday, March 7th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $81.86.
In other news, Chairman Michael Balmuth sold 59,777 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $76.53, for a total transaction of $4,574,733.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael J. Hartshorn sold 3,361 shares of the stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $76.94, for a total transaction of $258,595.34. Following the sale, the vice president now owns 79,158 shares of the company’s stock, valued at approximately $6,090,416.52. The disclosure for this sale can be found here. Insiders have sold 196,751 shares of company stock valued at $15,084,913 in the last quarter. Insiders own 2.30% of the company’s stock.
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Ross Stores Company 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 brand names in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at savings of 20% to 60% off department and specialty store regular prices primarily to middle income households; and dd's DISCOUNTS stores sell its products at savings of 20% to 70% off moderate department and discount store regular prices to customers from households with moderate income.
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