Perella Weinberg Partners Capital Management LP purchased a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 28,608 shares of the apparel retailer’s stock, valued at approximately $2,836,000.
A number of other large investors have also bought and sold shares of the stock. Geode Capital Management LLC raised its position in Ross Stores by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 6,088,490 shares of the apparel retailer’s stock valued at $505,856,000 after buying an additional 456,445 shares during the period. Northern Trust Corp increased its position in Ross Stores by 2.2% in the 1st quarter. Northern Trust Corp now owns 4,828,660 shares of the apparel retailer’s stock worth $449,548,000 after purchasing an additional 105,658 shares during the last quarter. Janus Henderson Group PLC increased its position in Ross Stores by 17.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,499,921 shares of the apparel retailer’s stock worth $232,744,000 after purchasing an additional 379,598 shares during the last quarter. California Public Employees Retirement System increased its position in Ross Stores by 21.0% in the 1st quarter. California Public Employees Retirement System now owns 2,410,916 shares of the apparel retailer’s stock worth $224,456,000 after purchasing an additional 418,404 shares during the last quarter. Finally, Coho Partners Ltd. increased its position in Ross Stores by 3.0% in the 1st quarter. Coho Partners Ltd. now owns 1,875,358 shares of the apparel retailer’s stock worth $174,596,000 after purchasing an additional 54,194 shares during the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Barbara Rentler sold 40,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $99.16, for a total transaction of $3,966,400.00. Following the completion of the sale, the chief executive officer now owns 473,922 shares in the company, valued at approximately $46,994,105.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Michael Balmuth sold 81,049 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $92.87, for a total value of $7,527,020.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 296,287 shares of company stock valued at $29,806,735. 2.30% of the stock is currently owned by corporate insiders.
Several brokerages have weighed in on ROST. Goldman Sachs Group lowered Ross Stores from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $102.00 to $91.00 in a research report on Thursday, June 27th. Zacks Investment Research raised Ross Stores from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Telsey Advisory Group lowered Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 target price on the stock. in a research report on Monday, June 24th. BidaskClub lowered Ross Stores from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 26th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $105.00 target price on shares of Ross Stores in a research report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $98.64.
Shares of ROST traded down $0.08 during trading hours on Friday, hitting $103.49. 1,563,820 shares of the company were exchanged, compared to its average volume of 1,740,597. The company has a market capitalization of $38.67 billion, a P/E ratio of 24.29, a PEG ratio of 2.26 and a beta of 0.89. The company’s 50 day simple moving average is $103.56. Ross Stores, Inc. has a 52 week low of $75.91 and a 52 week high of $108.20. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.64 and a current ratio of 1.34.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.01. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.79 billion. Ross Stores had a return on equity of 48.92% and a net margin of 10.47%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.11 EPS. On average, equities analysts expect that Ross Stores, Inc. will post 4.51 earnings per share for the current year.
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. Its stores 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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