Natixis Advisors L.P. raised its position in Ross Stores, Inc. (NASDAQ:ROST) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,609 shares of the apparel retailer’s stock after purchasing an additional 2,295 shares during the quarter. Natixis Advisors L.P.’s holdings in Ross Stores were worth $6,999,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ROST. Redhawk Wealth Advisors Inc. bought a new stake in shares of Ross Stores in the 2nd quarter valued at approximately $31,000. Litman Gregory Asset Management LLC acquired a new stake in Ross Stores in the second quarter valued at approximately $32,000. Berman Capital Advisors LLC grew its position in Ross Stores by 32.2% in the first quarter. Berman Capital Advisors LLC now owns 522 shares of the apparel retailer’s stock worth $48,000 after acquiring an additional 127 shares in the last quarter. Thor Advisors LLC bought a new stake in Ross Stores in the first quarter worth approximately $54,000. Finally, Cornerstone Advisors Inc. grew its position in Ross Stores by 26.0% in the first quarter. Cornerstone Advisors Inc. now owns 820 shares of the apparel retailer’s stock worth $76,000 after acquiring an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.
A number of research analysts have recently weighed in on the stock. Deutsche Bank raised their price target on shares of Ross Stores from $107.00 to $113.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Guggenheim set a $120.00 price objective on shares of Ross Stores and gave the stock a “buy” rating in a report on Friday, August 23rd. Telsey Advisory Group downgraded shares of 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. Morgan Stanley raised their target price on Ross Stores from $94.00 to $104.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Goldman Sachs Group lowered Ross Stores from a “neutral” rating to a “sell” rating and cut their target price for the company from $102.00 to $91.00 in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $107.61.
In other news, Director George Orban sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $102.50, for a total value of $102,500.00. Following the sale, the director now owns 543,939 shares in the company, valued at $55,753,747.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Barbara Rentler sold 40,000 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 240,238 shares of company stock worth $24,956,214. Company insiders own 2.30% of the company’s stock.
Ross Stores stock traded up $0.22 on Wednesday, reaching $108.38. 87,744 shares of the stock were exchanged, compared to its average volume of 2,053,430. The company has a current ratio of 1.31, a quick ratio of 0.63 and a debt-to-equity ratio of 0.85. Ross Stores, Inc. has a twelve month low of $75.91 and a twelve month high of $110.67. The firm has a fifty day moving average price of $105.27 and a two-hundred day moving average price of $99.17. The stock has a market cap of $39.57 billion, a PE ratio of 25.40, a PEG ratio of 2.32 and a beta of 0.84.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.02. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.96 billion. Ross Stores had a return on equity of 49.21% and a net margin of 10.46%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $1.04 earnings per share. Equities analysts anticipate that Ross Stores, Inc. will post 4.5 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 12th will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, September 11th. Ross Stores’s dividend payout ratio (DPR) is currently 23.94%.
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 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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