OLD Mission Capital LLC acquired a new stake in Ross Stores (NASDAQ:ROST) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,816 shares of the apparel retailer’s stock, valued at approximately $547,000.
Other institutional investors have also recently made changes to their positions in the company. Cerebellum GP LLC acquired a new stake in shares of Ross Stores in the fourth quarter valued at $132,000. Zions Bancorporation lifted its holdings in shares of Ross Stores by 338.9% in the third quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock valued at $137,000 after buying an additional 1,637 shares during the period. Sit Investment Associates Inc. lifted its holdings in shares of Ross Stores by 255.1% in the fourth quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock valued at $152,000 after buying an additional 1,365 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Ross Stores in the fourth quarter valued at $159,000. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of Ross Stores in the fourth quarter valued at $164,000. Institutional investors and hedge funds own 89.58% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. BidaskClub raised Ross Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Zacks Investment Research lowered Ross Stores from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. Wells Fargo reaffirmed a “buy” rating and set a $86.00 target price (down from $91.00) on shares of Ross Stores in a research report on Wednesday, March 7th. Cowen set a $85.00 target price on Ross Stores and gave the stock a “buy” rating in a research report on Tuesday, March 6th. Finally, Deutsche Bank set a $92.00 target price on Ross Stores and gave the stock a “buy” rating in a research report on Wednesday, March 7th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $81.86.
In other Ross Stores news, insider Bernard G. Brautigan sold 18,171 shares of the business’s stock in a transaction dated Friday, March 23rd. The stock was sold at an average price of $75.71, for a total value of $1,375,726.41. Following the transaction, the insider now owns 170,718 shares in the company, valued at $12,925,059.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian R. Morrow sold 18,282 shares of the business’s stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $78.50, for a total value of $1,435,137.00. Following the completion of the transaction, the insider now owns 109,235 shares in the company, valued at approximately $8,574,947.50. The disclosure for this sale can be found here. Insiders sold 196,751 shares of company stock worth $15,084,913 in the last 90 days. Corporate insiders own 2.30% of the company’s stock.
NASDAQ:ROST traded down $2.32 during trading hours on Friday, hitting $77.45. 3,053,746 shares of the company’s stock traded hands, compared to its average volume of 2,667,887. The firm has a market capitalization of $29,331.32, a price-to-earnings ratio of 23.19, a PEG ratio of 1.92 and a beta of 1.08. Ross Stores has a twelve month low of $52.85 and a twelve month high of $85.66. The company has a current ratio of 1.64, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share 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. equities analysts forecast that Ross Stores will post 4.03 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Monday, March 19th were paid a $0.225 dividend. The ex-dividend date was Friday, March 16th. This represents a $0.90 dividend on an annualized basis and a yield of 1.16%. This is an increase from Ross Stores’s previous quarterly dividend of $0.16. Ross Stores’s payout ratio is 26.95%.
Ross Stores announced that its board has initiated a stock repurchase program on Tuesday, March 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the apparel retailer to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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About Ross Stores
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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