Ross Stores Inc. (ROST) Shares Sold by Retirement Systems of Alabama
Retirement Systems of Alabama cut its stake in shares of Ross Stores Inc. (NASDAQ:ROST) by 1.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 204,845 shares of the apparel retailer’s stock after selling 2,516 shares during the period. Retirement Systems of Alabama’s holdings in Ross Stores were worth $11,613,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the stock. Palisade Capital Management LLC NJ purchased a new position in shares of Ross Stores during the first quarter valued at approximately $4,512,000. TimesSquare Capital Management LLC boosted its position in shares of Ross Stores by 7.2% in the first quarter. TimesSquare Capital Management LLC now owns 1,506,800 shares of the apparel retailer’s stock valued at $87,244,000 after buying an additional 101,600 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of Ross Stores during the first quarter valued at approximately $140,000. JPMorgan Chase & Co. boosted its position in shares of Ross Stores by 32.9% in the first quarter. JPMorgan Chase & Co. now owns 6,358,644 shares of the apparel retailer’s stock valued at $368,167,000 after buying an additional 1,575,465 shares during the last quarter. Finally, BlackRock Japan Co. Ltd boosted its position in shares of Ross Stores by 13.4% in the first quarter. BlackRock Japan Co. Ltd now owns 583,524 shares of the apparel retailer’s stock valued at $33,786,000 after buying an additional 69,172 shares during the last quarter. Institutional investors own 90.21% of the company’s stock.
Ross Stores Inc. (NASDAQ:ROST) traded up 0.05% on Tuesday, reaching $64.26. 1,597,497 shares of the company’s stock traded hands. The company has a market cap of $25.48 billion, a PE ratio of 24.46 and a beta of 0.94. The firm’s 50 day moving average price is $63.03 and its 200 day moving average price is $58.56. 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 quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. Ross Stores’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts expect that Ross Stores Inc. will post $2.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.54 annualized dividend and a yield of 0.84%. Ross Stores’s payout ratio is presently 20.53%.
Several equities analysts have recently commented on the stock. MKM Partners restated a “buy” rating and issued a $72.00 target price (up from $65.00) on shares of Ross Stores in a research report on Monday, August 22nd. Zacks Investment Research raised shares of Ross Stores from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a report on Monday, August 22nd. Vetr lowered shares of Ross Stores from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a report on Monday, August 22nd. Buckingham Research raised shares of Ross Stores from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. Finally, Guggenheim reaffirmed a “buy” rating and set a $70.00 price target on shares of Ross Stores in a report on Friday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $65.29.
In related news, CEO Barbara Rentler sold 20,000 shares of the stock in a transaction on Monday, September 19th. The stock was sold at an average price of $62.54, for a total transaction of $1,250,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James S. Fassio sold 12,000 shares of the stock in a transaction 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. Corporate insiders own 2.40% of the company’s stock.
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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