Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Russell Investments Group Ltd.
Russell Investments Group Ltd. cut its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 5.7% during the second quarter, Holdings Channel reports. The fund owned 261,337 shares of the apparel retailer’s stock after selling 15,779 shares during the period. Russell Investments Group Ltd.’s holdings in Ross Stores were worth $15,086,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position 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 during the last quarter. Vanguard Group Inc. increased its position 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 during the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in Ross Stores during the first quarter valued at $79,225,000. Marshall Wace North America L.P. purchased a new position in Ross Stores during the first quarter valued at $79,225,000. Finally, Ameriprise Financial Inc. increased its position 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 during the last quarter. 91.37% of the stock is owned by hedge funds and other institutional investors.
Ross Stores, Inc. (NASDAQ ROST) traded down 1.93% on Thursday, reaching $54.96. The company’s stock had a trading volume of 1,395,751 shares. Ross Stores, Inc. has a 1-year low of $52.91 and a 1-year high of $69.81. The company has a market capitalization of $21.39 billion, a price-to-earnings ratio of 18.83 and a beta of 1.10. The stock has a 50 day moving average price of $55.54 and a 200-day moving average price of $62.61.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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%. Ross Stores’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 earnings per share. Equities analysts predict that Ross Stores, Inc. will post $3.16 earnings per share for the current fiscal year.
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ROST has been the subject of several research analyst reports. BidaskClub downgraded Ross Stores from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. Royal Bank Of Canada set a $67.00 price objective on Ross Stores and gave the company a “hold” rating in a research note on Monday, June 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $69.00 price objective on shares of Ross Stores in a research note on Monday, May 22nd. Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Wednesday, July 12th. Finally, BMO Capital Markets set a $65.00 price objective on Ross Stores and gave the company a “hold” rating in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $69.41.
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 sale, the director now directly owns 4,967 shares in the company, valued at $314,063.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.30% of the company’s stock.
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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