Dorsey Wright & Associates cut its position in Ross Stores, Inc. (NASDAQ:ROST) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,498 shares of the apparel retailer’s stock after selling 2,029 shares during the quarter. Dorsey Wright & Associates’ holdings in Ross Stores were worth $3,419,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Summit Trail Advisors LLC increased its stake in Ross Stores by 8,064.5% during the 1st quarter. Summit Trail Advisors LLC now owns 139,287 shares of the apparel retailer’s stock valued at $139,000 after buying an additional 137,581 shares during the period. NuWave Investment Management LLC increased its stake in Ross Stores by 168.7% during the 2nd quarter. NuWave Investment Management LLC now owns 1,701 shares of the apparel retailer’s stock valued at $145,000 after buying an additional 1,068 shares during the period. SRS Capital Advisors Inc. increased its stake in Ross Stores by 81.5% during the 2nd quarter. SRS Capital Advisors Inc. now owns 1,875 shares of the apparel retailer’s stock valued at $158,000 after buying an additional 842 shares during the period. MUFG Americas Holdings Corp increased its stake in Ross Stores by 216.4% during the 2nd quarter. MUFG Americas Holdings Corp now owns 1,924 shares of the apparel retailer’s stock valued at $163,000 after buying an additional 1,316 shares during the period. Finally, Financial Gravity Wealth Inc. acquired a new position in Ross Stores during the 1st quarter valued at about $181,000. Hedge funds and other institutional investors own 88.24% of the company’s stock.
In other news, Director Norman A. Ferber sold 10,144 shares of Ross Stores stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $94.90, for a total value of $962,665.60. Following the transaction, the director now owns 25,127 shares of the company’s stock, valued at approximately $2,384,552.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.
Several research firms have commented on ROST. BidaskClub cut shares of Ross Stores from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Nomura raised their target price on shares of Ross Stores from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Barclays began coverage on shares of Ross Stores in a research note on Tuesday, September 11th. They set an “equal weight” rating and a $106.00 target price on the stock. Deutsche Bank raised their target price on shares of Ross Stores from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, August 20th. Finally, William Blair reissued an “outperform” rating on shares of Ross Stores in a research note on Friday, August 24th. Twelve investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $96.04.
Shares of ROST opened at $95.87 on Friday. The company has a market capitalization of $37.00 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.71. Ross Stores, Inc. has a 12-month low of $62.34 and a 12-month high of $100.58.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 23rd. The apparel retailer reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.03. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.66 billion. Ross Stores had a net margin of 10.41% and a return on equity of 47.56%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. As a group, research analysts forecast that Ross Stores, Inc. will post 4.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Thursday, September 13th were paid a $0.225 dividend. The ex-dividend date was Wednesday, September 12th. This represents a $0.90 annualized dividend and a dividend yield of 0.94%. Ross Stores’s dividend payout ratio is currently 26.95%.
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 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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