Ross Stores, Inc. (ROST) Shares Sold by Korea Investment CORP
Korea Investment CORP lowered its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 9.3% during the second quarter, Holdings Channel reports. The firm owned 169,184 shares of the apparel retailer’s stock after selling 17,448 shares during the period. Korea Investment CORP’s holdings in Ross Stores were worth $9,767,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake 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 period. BlackRock Inc. increased its stake 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 period. State Street Corp increased its stake in shares of Ross Stores by 1.0% in the first quarter. State Street Corp now owns 17,886,365 shares of the apparel retailer’s stock worth $1,178,183,000 after buying an additional 173,336 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of 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 worth $612,317,000 after buying an additional 146,423 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Ross Stores by 29.2% in the first quarter. Ameriprise Financial Inc. now owns 5,151,764 shares of the apparel retailer’s stock worth $339,347,000 after buying an additional 1,165,463 shares during the period. Hedge funds and other institutional investors own 91.37% of the company’s stock.
Ross Stores, Inc. (ROST) opened at 55.92 on Wednesday. Ross Stores, Inc. has a 52 week low of $52.91 and a 52 week high of $69.81. The stock has a market capitalization of $21.76 billion, a PE ratio of 19.16 and a beta of 1.10. The firm 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 posted its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.02. The business had revenue of $3.31 billion during 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 for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company earned $0.73 EPS. Equities research analysts predict that Ross Stores, Inc. will post $3.16 EPS for the current fiscal year.
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ROST has been the subject of a number of research analyst reports. Royal Bank Of Canada set a $70.00 price target on Ross Stores and gave the company a “hold” rating in a research report on Monday, May 15th. Zacks Investment Research downgraded Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday. Telsey Advisory Group upgraded Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research report on Friday, July 14th. They noted that the move was a valuation call. BMO Capital Markets set a $65.00 price target on Ross Stores and gave the company a “hold” rating in a research report on Thursday, July 6th. Finally, BidaskClub upgraded Ross Stores from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company’s stock. Ross Stores currently has a consensus rating of “Hold” and an average price target of $69.41.
In other news, Director Sharon D. Garrett sold 16,130 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 4,967 shares of the company’s stock, valued at approximately $314,063.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is 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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