Teacher Retirement System of Texas raised its stake in shares of Ross Stores (NASDAQ:ROST) by 7.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 689,089 shares of the apparel retailer’s stock after purchasing an additional 46,290 shares during the period. Teacher Retirement System of Texas’ holdings in Ross Stores were worth $53,735,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. boosted its position in 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 valued at $437,885,000 after acquiring an additional 2,117,771 shares in the last quarter. Rockefeller Financial Services Inc. bought a new stake in shares of Ross Stores during the 4th quarter worth about $117,845,000. American Century Companies Inc. raised its position in shares of Ross Stores by 35.2% during the 1st quarter. American Century Companies Inc. now owns 3,101,330 shares of the apparel retailer’s stock worth $241,842,000 after buying an additional 807,366 shares in the last quarter. Millennium Management LLC raised its position 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 buying an additional 736,599 shares in the last quarter. Finally, Element Capital Management LLC bought a new stake in shares of Ross Stores during the 4th quarter worth about $49,775,000. 90.21% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Barbara Rentler sold 32,430 shares of the stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $79.53, for a total value of $2,579,157.90. Following the completion of the transaction, the chief executive officer now owns 534,318 shares in the company, valued at approximately $42,494,310.54. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Bernard G. Brautigan sold 18,171 shares of the stock in a transaction on Friday, March 23rd. The shares were sold at an average price of $75.71, for a total transaction of $1,375,726.41. Following the completion of the transaction, the insider now owns 170,718 shares of the company’s stock, valued at approximately $12,925,059.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 256,652 shares of company stock valued at $19,829,016. Corporate insiders own 2.40% of the company’s stock.
ROST has been the topic of a number of recent analyst reports. Credit Suisse Group initiated coverage on shares of Ross Stores in a research report on Monday, March 12th. They set an “outperform” rating and a $88.00 price target on the stock. Nomura reaffirmed a “buy” rating and set a $90.00 price objective (up from $80.00) on shares of Ross Stores in a report on Wednesday, January 17th. SunTrust Banks reaffirmed a “buy” rating on shares of Ross Stores in a report on Friday, February 2nd. BidaskClub raised shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Finally, Cowen set a $85.00 price objective on shares of Ross Stores and gave the stock a “buy” rating in a report on Tuesday, March 6th. Seven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $81.95.
Ross Stores traded up $0.44, hitting $83.21, during trading hours on Wednesday, MarketBeat reports. 39,489 shares of the company traded hands, compared to its average volume of 2,592,819. The stock has a market cap of $31.30 billion, a P/E ratio of 24.75, a PEG ratio of 2.05 and a beta of 1.06. Ross Stores has a twelve month low of $83.18 and a twelve month high of $84.50. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.64 and a quick ratio of 0.78.
Ross Stores (NASDAQ:ROST) last released its earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.05. The firm 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 research analysts anticipate that Ross Stores will post 4.03 EPS for the current year.
Ross Stores declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the apparel retailer to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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 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 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.
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