Flossbach Von Storch AG Maintains Position in Ross Stores Inc. (ROST)
Flossbach Von Storch AG continued to hold its position in shares of Ross Stores Inc. (NASDAQ:ROST) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,000 shares of the apparel retailer’s stock at the end of the second quarter. Flossbach Von Storch AG’s holdings in Ross Stores were worth $1,757,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of ROST. NN Investment Partners Holdings N.V. acquired a new position in Ross Stores during the first quarter worth about $140,000. Carroll Financial Associates Inc. boosted its position in Ross Stores by 0.7% in the second quarter. Carroll Financial Associates Inc. now owns 2,605 shares of the apparel retailer’s stock worth $147,000 after buying an additional 17 shares in the last quarter. Independent Portfolio Consultants Inc. acquired a new position in Ross Stores during the second quarter worth about $151,000. Citizens Financial Group Inc RI boosted its position in Ross Stores by 51.6% in the first quarter. Citizens Financial Group Inc RI now owns 2,737 shares of the apparel retailer’s stock worth $159,000 after buying an additional 931 shares in the last quarter. Finally, Springbok Capital Management LLC acquired a new position in Ross Stores during the first quarter worth about $160,000. 90.21% of the stock is owned by institutional investors.
Ross Stores Inc. (NASDAQ:ROST) traded up 0.05% during midday trading on Tuesday, reaching $64.26. The company had a trading volume of 1,572,206 shares. The firm has a market capitalization of $25.48 billion, a price-to-earnings ratio of 24.46 and a beta of 0.94. The stock’s 50 day moving average is $63.00 and its 200 day moving average is $58.53. Ross Stores Inc. has a 12-month low of $43.47 and a 12-month high of $66.28.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 18th. The apparel retailer reported $0.71 EPS for the quarter, topping the consensus estimate of $0.67 by $0.04. Ross Stores had a return on equity of 42.01% and a net margin of 8.55%. The business earned $3.18 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. Equities research analysts expect that Ross Stores Inc. will post $2.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were paid a $0.135 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.54 dividend on an annualized basis and a yield of 0.84%. Ross Stores’s dividend payout ratio (DPR) is presently 20.53%.
A number of research firms recently issued reports on ROST. Guggenheim reaffirmed a “buy” rating and issued a $70.00 price target on shares of Ross Stores in a report on Friday. Zacks Investment Research lowered Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Bank of America Corp. set a $70.00 price objective on Ross Stores and gave the stock a “buy” rating in a research report on Monday, September 12th. Buckingham Research upgraded Ross Stores from a “neutral” rating to a “buy” rating in a research report on Thursday, August 25th. Finally, MKM Partners reiterated a “buy” rating and issued a $72.00 price objective (up from $65.00) on shares of Ross Stores in a research report on Monday, August 22nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $65.29.
In other Ross Stores news, CEO Barbara Rentler sold 12,840 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $63.76, for a total value of $818,678.40. Following the completion of the sale, the chief executive officer now owns 542,851 shares of the company’s stock, valued at $34,612,179.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James S. Fassio sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $63.35, for a total value of $760,200.00. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.
Ross Stores Company Profile
Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.
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