Ross Stores, Inc. (ROST) Shares Bought by California Public Employees Retirement System
California Public Employees Retirement System raised its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 964,400 shares of the apparel retailer’s stock after acquiring an additional 25,600 shares during the period. California Public Employees Retirement System owned about 0.25% of Ross Stores worth $55,675,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Herndon Capital Management LLC grew its stake in Ross Stores by 85.6% in the second quarter. Herndon Capital Management LLC now owns 202,917 shares of the apparel retailer’s stock valued at $11,715,000 after acquiring an additional 93,559 shares during the period. Mechanics Bank Trust Department grew its stake in Ross Stores by 0.5% in the second quarter. Mechanics Bank Trust Department now owns 65,450 shares of the apparel retailer’s stock valued at $3,778,000 after acquiring an additional 315 shares during the period. Swiss National Bank grew its stake in Ross Stores by 2.3% in the second quarter. Swiss National Bank now owns 1,667,592 shares of the apparel retailer’s stock valued at $96,270,000 after acquiring an additional 36,700 shares during the period. Marshall Wace North America L.P. grew its stake in Ross Stores by 21.9% in the second quarter. Marshall Wace North America L.P. now owns 1,463,322 shares of the apparel retailer’s stock valued at $84,873,000 after acquiring an additional 262,946 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Ross Stores in the second quarter valued at about $968,000. 90.40% of the stock is owned by hedge funds and other institutional investors.
ROST has been the subject of a number of research analyst reports. Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Wednesday, July 12th. MKM Partners boosted their target price on Ross Stores from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Instinet reissued a “buy” rating and issued a $74.00 target price on shares of Ross Stores in a research note on Sunday, August 20th. Bank of America Corporation reissued a “buy” rating and issued a $80.00 target price on shares of Ross Stores in a research note on Sunday, August 20th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $75.00 target price on shares of Ross Stores in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $69.68.
Shares of Ross Stores, Inc. (NASDAQ ROST) opened at 60.89 on Friday. The company’s 50-day moving average price is $57.77 and its 200 day moving average price is $60.76. The company has a market cap of $23.48 billion, a price-to-earnings ratio of 20.11 and a beta of 1.09. Ross Stores, Inc. has a 12-month low of $52.85 and a 12-month high of $69.81.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.37 billion. Ross Stores had a return on equity of 42.95% and a net margin of 8.87%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS. Equities analysts predict that Ross Stores, Inc. will post $3.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 7th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.05%. Ross Stores’s dividend payout ratio (DPR) is currently 21.12%.
In other Ross Stores news, CEO Barbara Rentler sold 15,492 shares of Ross Stores stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total transaction of $945,012.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.30% of the stock is currently owned by insiders.
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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