Financial Architects Inc Reduces Position in Ross Stores, Inc. (ROST)
Financial Architects Inc decreased its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 30.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,154 shares of the apparel retailer’s stock after selling 2,278 shares during the period. Financial Architects Inc’s holdings in Ross Stores were worth $298,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. National Pension Service raised its stake in shares of Ross Stores by 4.3% in the first quarter. National Pension Service now owns 355,177 shares of the apparel retailer’s stock worth $23,658,000 after buying an additional 14,712 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of Ross Stores by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 124,802 shares of the apparel retailer’s stock worth $8,220,000 after buying an additional 1,500 shares during the period. Creative Planning raised its stake in shares of Ross Stores by 6.4% in the first quarter. Creative Planning now owns 13,856 shares of the apparel retailer’s stock worth $913,000 after buying an additional 832 shares during the period. Raymond James Trust N.A. raised its stake in shares of Ross Stores by 3.7% in the first quarter. Raymond James Trust N.A. now owns 20,789 shares of the apparel retailer’s stock worth $1,369,000 after buying an additional 748 shares during the period. Finally, Chevy Chase Trust Holdings Inc. raised its stake in shares of Ross Stores by 2.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 341,873 shares of the apparel retailer’s stock worth $22,519,000 after buying an additional 8,038 shares during the period. 90.09% of the stock is owned by institutional investors.
Shares of Ross Stores, Inc. (NASDAQ:ROST) traded down 1.34% on Monday, reaching $53.58. 2,052,243 shares of the company traded hands. The stock has a 50 day moving average of $58.18 and a 200 day moving average of $63.73. The stock has a market cap of $20.85 billion, a price-to-earnings ratio of 18.36 and a beta of 1.12. Ross Stores, Inc. has a 52-week low of $53.31 and a 52-week high of $69.81.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. The firm had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.27 billion. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.73 earnings per share. On average, analysts expect that Ross Stores, Inc. will post $3.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Tuesday, June 6th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Friday, June 2nd. Ross Stores’s dividend payout ratio is currently 21.92%.
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A number of brokerages have issued reports on ROST. Royal Bank Of Canada set a $70.00 target price on shares of Ross Stores and gave the company a “hold” rating in a research note on Monday, April 3rd. Zacks Investment Research lowered shares of Ross Stores from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Jefferies Group LLC set a $63.00 target price on shares of Ross Stores and gave the company a “hold” rating in a research note on Thursday, April 6th. BMO Capital Markets reissued a “hold” rating and set a $72.00 target price on shares of Ross Stores in a research note on Tuesday, April 18th. Finally, William Blair reissued an “outperform” rating on shares of Ross Stores in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the stock. Ross Stores presently has a consensus rating of “Buy” and a consensus target price of $69.23.
In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of the 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 sale, the director now owns 4,967 shares in the company, valued at $314,063.41. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.
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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