Joel Isaacson & Co. LLC Has $1,545,000 Stake in Ross Stores, Inc. (NASDAQ:ROST)
Joel Isaacson & Co. LLC maintained 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. The institutional investor owned 26,755 shares of the apparel retailer’s stock at the end of the second quarter. Joel Isaacson & Co. LLC’s holdings in Ross Stores were worth $1,545,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Ross Stores by 1,908.5% in the first quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock worth $1,742,545,000 after buying an additional 25,137,186 shares during the last quarter. Flossbach Von Storch AG boosted its position in shares of Ross Stores by 7,335.3% in the second quarter. Flossbach Von Storch AG now owns 5,000,270 shares of the apparel retailer’s stock worth $288,666,000 after buying an additional 4,933,020 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Ross Stores by 3.5% in the first quarter. Vanguard Group Inc. now owns 35,460,595 shares of the apparel retailer’s stock worth $2,335,790,000 after buying an additional 1,208,861 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in shares of Ross Stores during the first quarter worth approximately $79,225,000. Finally, Marshall Wace North America L.P. bought a new position in shares of Ross Stores during the first quarter worth approximately $79,225,000. Institutional investors own 91.37% of the company’s stock.
Ross Stores, Inc. (NASDAQ ROST) opened at 55.92 on Wednesday. The firm has a market capitalization of $21.76 billion, a price-to-earnings ratio of 19.16 and a beta of 1.10. Ross Stores, Inc. has a 1-year low of $52.91 and a 1-year high of $69.81. The company has a 50 day moving average price of $56.36 and a 200-day moving average price of $63.03.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.80 by $0.02. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.27 billion. Ross Stores had a return on equity of 42.56% and a net margin of 8.77%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 EPS. On average, analysts forecast that Ross Stores, Inc. will post $3.16 EPS for the current fiscal year.
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A number of research analysts recently commented on ROST shares. BidaskClub cut Ross Stores from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 17th. Royal Bank Of Canada set a $67.00 price target on Ross Stores and gave the stock a “hold” rating in a research report on Monday, June 19th. Morgan Stanley restated an “overweight” rating and issued a $69.00 price target on shares of Ross Stores in a research report on Monday, May 22nd. Zacks Investment Research cut Ross Stores from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Finally, BMO Capital Markets set a $65.00 target price on Ross Stores and gave the company a “hold” rating in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $69.41.
In related news, Director Sharon D. Garrett sold 16,130 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the completion of 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. Corporate 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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