Robertson Stephens Advisors LLC Holds Stake in Ross Stores, Inc. (ROST)
Robertson Stephens Advisors LLC held its position in Ross Stores, Inc. (NASDAQ:ROST) during the first quarter, Holdings Channel reports. The institutional investor owned 15,650 shares of the apparel retailer’s stock at the end of the first quarter. Ross Stores comprises 0.9% of Robertson Stephens Advisors LLC’s portfolio, making the stock its 26th largest position. Robertson Stephens Advisors LLC’s holdings in Ross Stores were worth $1,031,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC boosted its position in Ross Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock valued at $108,000 after buying an additional 776 shares during the period. Nikko Asset Management Americas Inc. bought a new position in Ross Stores during the first quarter valued at $112,000. Advisory Services Network LLC bought a new position in Ross Stores during the first quarter valued at $171,000. Alpha Windward LLC boosted its position in Ross Stores by 0.8% in the first quarter. Alpha Windward LLC now owns 2,974 shares of the apparel retailer’s stock valued at $196,000 after buying an additional 23 shares during the period. Finally, Carroll Financial Associates Inc. boosted its position in Ross Stores by 16.1% in the first quarter. Carroll Financial Associates Inc. now owns 3,025 shares of the apparel retailer’s stock valued at $199,000 after buying an additional 420 shares during the period. Institutional investors own 91.00% of the company’s stock.
Shares of Ross Stores, Inc. (NASDAQ ROST) traded down 2.72% during trading on Tuesday, hitting $59.00. 1,289,264 shares of the stock traded hands. The stock has a market cap of $22.96 billion, a price-to-earnings ratio of 20.21 and a beta of 1.07. Ross Stores, Inc. has a 1-year low of $52.75 and a 1-year high of $69.81. The stock has a 50 day moving average price of $62.90 and a 200-day moving average price of $65.53.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.27 billion. Ross Stores had a return on equity of 42.56% and a net margin of 8.77%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 EPS. Equities analysts forecast that Ross Stores, Inc. will post $3.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Tuesday, June 6th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Friday, June 2nd. Ross Stores’s dividend payout ratio is currently 21.92%.
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A number of analysts have recently commented on ROST shares. Royal Bank Of Canada set a $70.00 price objective on shares of Ross Stores and gave the stock a “hold” rating in a research report on Monday, May 15th. Telsey Advisory Group cut their price objective on shares of Ross Stores from $77.00 to $70.00 and set a “market perform” rating on the stock in a research report on Friday, May 19th. Jefferies Group LLC reissued a “hold” rating and issued a $63.00 price objective on shares of Ross Stores in a research report on Tuesday, May 16th. Northcoast Research reissued a “neutral” rating on shares of Ross Stores in a research report on Wednesday, March 1st. Finally, BidaskClub lowered shares of Ross Stores from a “sell” rating to a “strong sell” rating in a research report on Saturday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $69.82.
In related news, Director Sharon D. Garrett sold 16,130 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $63.23, for a total value of $1,019,899.90. Following the sale, the director now directly owns 4,967 shares in the company, valued at approximately $314,063.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian R. Morrow sold 3,004 shares of the business’s stock in a transaction dated Friday, April 7th. The shares were sold at an average price of $63.16, for a total value of $189,732.64. Following the completion of the sale, the insider now owns 121,712 shares in the company, valued at $7,687,329.92. The disclosure for this sale can be found here. Insiders sold a total of 114,237 shares of company stock worth $7,507,696 over the last 90 days. 2.30% of the stock is currently owned by company insiders.
Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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