Ross Stores, Inc. (NASDAQ:ROST) Shares Bought by Court Place Advisors LLC
Court Place Advisors LLC raised its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,000 shares of the apparel retailer’s stock after buying an additional 1,221 shares during the period. Ross Stores makes up approximately 1.3% of Court Place Advisors LLC’s holdings, making the stock its 23rd largest position. Court Place Advisors LLC’s holdings in Ross Stores were worth $2,656,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Ross Stores by 3.5% in the first quarter. Vanguard Group Inc. now owns 35,460,595 shares of the apparel retailer’s stock valued at $2,335,790,000 after buying an additional 1,208,861 shares in the last quarter. BlackRock Inc. raised its stake in Ross Stores by 1,908.5% in the first quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock valued at $1,742,545,000 after buying an additional 25,137,186 shares in the last quarter. State Street Corp raised its stake in Ross Stores by 1.0% in the first quarter. State Street Corp now owns 17,886,365 shares of the apparel retailer’s stock valued at $1,178,183,000 after buying an additional 173,336 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Ross Stores by 1.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,295,824 shares of the apparel retailer’s stock valued at $612,317,000 after buying an additional 146,423 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Ross Stores by 29.2% in the first quarter. Ameriprise Financial Inc. now owns 5,151,764 shares of the apparel retailer’s stock valued at $339,347,000 after buying an additional 1,165,463 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.
Shares of Ross Stores, Inc. (NASDAQ ROST) traded down 0.62% during midday trading on Friday, hitting $54.31. The company’s stock had a trading volume of 4,069,052 shares. The firm has a market cap of $21.14 billion, a P/E ratio of 18.61 and a beta of 1.12. Ross Stores, Inc. has a 52-week low of $53.89 and a 52-week high of $69.81. The stock’s 50 day moving average is $58.18 and its 200-day moving average is $63.73.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.02. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period in the previous year, the business earned $0.73 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities analysts predict that Ross Stores, Inc. will post $3.16 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Tuesday, June 6th were given a $0.16 dividend. The ex-dividend date was Friday, June 2nd. This represents a $0.64 annualized dividend and a yield of 1.18%. Ross Stores’s dividend payout ratio (DPR) is presently 21.92%.
ROST has been the topic of several research analyst reports. Royal Bank Of Canada set a $70.00 price objective on Ross Stores and gave the company a “hold” rating in a research note on Monday, May 15th. Telsey Advisory Group upgraded Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research note on Friday, July 14th. They noted that the move was a valuation call. BMO Capital Markets set a $65.00 target price on Ross Stores and gave the stock a “hold” rating in a research note on Thursday, July 6th. Jefferies Group LLC reiterated a “hold” rating and set a $63.00 target price on shares of Ross Stores in a research note on Tuesday, May 16th. Finally, BidaskClub lowered Ross Stores from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $69.23.
In related news, Director Sharon D. Garrett sold 16,130 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $63.23, for a total value of $1,019,899.90. Following the completion of the transaction, the director now directly owns 4,967 shares in the company, valued at $314,063.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by insiders.
About Ross Stores
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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