Hahn Capital Management LLC Boosts Holdings in Ross Stores, Inc. (ROST)
Hahn Capital Management LLC increased its position in Ross Stores, Inc. (NASDAQ:ROST) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 579,082 shares of the apparel retailer’s stock after buying an additional 5,506 shares during the quarter. Ross Stores accounts for approximately 3.7% of Hahn Capital Management LLC’s holdings, making the stock its 11th biggest holding. Hahn Capital Management LLC owned about 0.15% of Ross Stores worth $37,391,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Gyroscope Capital Management Group LLC purchased a new position in shares of Ross Stores in the third quarter worth $356,000. Colony Group LLC increased its stake in shares of Ross Stores by 1.0% in the third quarter. Colony Group LLC now owns 274,217 shares of the apparel retailer’s stock worth $17,706,000 after buying an additional 2,648 shares during the period. Marco Investment Management LLC increased its stake in shares of Ross Stores by 13.5% in the third quarter. Marco Investment Management LLC now owns 12,600 shares of the apparel retailer’s stock worth $814,000 after buying an additional 1,500 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Ross Stores by 0.8% in the third quarter. Neuberger Berman Group LLC now owns 401,156 shares of the apparel retailer’s stock worth $25,903,000 after buying an additional 3,212 shares during the period. Finally, Griffin Asset Management Inc. purchased a new position in shares of Ross Stores in the third quarter worth $950,000. 90.93% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on ROST. MKM Partners boosted their price objective on shares of Ross Stores from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, August 18th. Wolfe Research reduced their price objective on shares of Ross Stores from $76.00 to $73.00 and set an “outperform” rating on the stock in a research report on Friday, August 18th. Cowen reissued an “outperform” rating and set a $55.00 price objective on shares of Ross Stores in a research report on Friday, August 18th. Zacks Investment Research raised shares of Ross Stores from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Monday, August 21st. Finally, BMO Capital Markets boosted their price objective on shares of Ross Stores from $65.00 to $71.00 and gave the company a “market perform” rating in a research report on Friday, November 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. Ross Stores has a consensus rating of “Buy” and a consensus target price of $73.71.
In other news, insider Brian R. Morrow sold 6,157 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total transaction of $402,052.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.
Shares of Ross Stores, Inc. (NASDAQ:ROST) opened at $76.97 on Thursday. Ross Stores, Inc. has a fifty-two week low of $52.85 and a fifty-two week high of $78.81. The company has a market cap of $29,199.78, a price-to-earnings ratio of 24.41, a PEG ratio of 2.33 and a beta of 1.16. The company has a current ratio of 1.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.14.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.05. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the business posted $0.62 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. sell-side analysts forecast that Ross Stores, Inc. will post 3.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, November 30th. Ross Stores’s dividend payout ratio (DPR) is presently 20.45%.
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Ross Stores 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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