Pictet Asset Management Ltd. Has $13.94 Million Stake in Ross Stores, Inc. (NASDAQ:ROST)
Pictet Asset Management Ltd. decreased its position in Ross Stores, Inc. (NASDAQ:ROST) by 2.9% during the second quarter, Holdings Channel reports. The firm owned 218,090 shares of the apparel retailer’s stock after selling 6,500 shares during the period. Pictet Asset Management Ltd.’s holdings in Ross Stores were worth $13,940,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of ROST. Guardian Life Insurance Co. of America increased its position in shares of Ross Stores by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock worth $101,000 after buying an additional 10 shares during the period. TrimTabs Asset Management LLC increased its position in shares of Ross Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock worth $108,000 after buying an additional 776 shares during the period. Nikko Asset Management Americas Inc. acquired a new position in shares of Ross Stores during the first quarter worth about $112,000. Parallel Advisors LLC increased its position in shares of Ross Stores by 39.1% in the first quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock worth $111,000 after buying an additional 478 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in shares of Ross Stores by 3.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock worth $108,000 after buying an additional 61 shares during the period. 91.37% of the stock is owned by institutional investors and hedge funds.
Shares of Ross Stores, Inc. (NASDAQ ROST) opened at 55.56 on Friday. The firm has a market cap of $21.62 billion, a PE ratio of 19.03 and a beta of 1.10. The stock’s 50 day moving average price is $55.47 and its 200 day moving average price is $62.49. Ross Stores, Inc. has a 12-month low of $52.91 and a 12-month high of $69.81.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share 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 firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the company posted $0.73 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts predict that Ross Stores, Inc. will post $3.16 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the company. BMO Capital Markets set a $65.00 price target on Ross Stores and gave the stock a “hold” rating in a report on Tuesday, August 8th. BidaskClub upgraded Ross Stores from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research cut Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Credit Suisse Group restated a “neutral” rating and issued a $64.00 price target (down previously from $70.00) on shares of Ross Stores in a report on Tuesday, August 8th. Finally, William Blair restated an “outperform” rating on shares of Ross Stores in a report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $69.41.
In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of Ross Stores stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the transaction, the director now directly owns 4,967 shares in the company, valued at approximately $314,063.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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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