OppenheimerFunds Inc. trimmed its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 13.5% in the second quarter, HoldingsChannel.com reports. The firm owned 491,343 shares of the apparel retailer’s stock after selling 76,784 shares during the quarter. OppenheimerFunds Inc.’s holdings in Ross Stores were worth $41,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Ross Stores by 0.6% in the first quarter. BlackRock Inc. now owns 26,549,467 shares of the apparel retailer’s stock valued at $2,070,327,000 after acquiring an additional 154,064 shares during the period. Franklin Resources Inc. boosted its position in shares of Ross Stores by 0.4% in the first quarter. Franklin Resources Inc. now owns 6,023,816 shares of the apparel retailer’s stock valued at $469,737,000 after acquiring an additional 24,217 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Ross Stores by 15.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,360,522 shares of the apparel retailer’s stock valued at $454,305,000 after acquiring an additional 724,764 shares during the period. Alecta Pensionsforsakring Omsesidigt boosted its position in shares of Ross Stores by 2.6% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,720,000 shares of the apparel retailer’s stock valued at $367,782,000 after acquiring an additional 120,000 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Ross Stores by 15.4% in the second quarter. Wells Fargo & Company MN now owns 3,829,150 shares of the apparel retailer’s stock valued at $324,521,000 after acquiring an additional 509,933 shares during the period. 87.48% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ ROST opened at $97.27 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 0.85. The stock has a market cap of $37.07 billion, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 2.40 and a beta of 1.11. Ross Stores, Inc. has a 12 month low of $59.95 and a 12 month high of $98.70.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 23rd. The apparel retailer reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.03. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.66 billion. Ross Stores had a return on equity of 47.56% and a net margin of 10.41%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 earnings per share. sell-side analysts predict that Ross Stores, Inc. will post 4.1 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 13th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 0.93%. The ex-dividend date is Wednesday, September 12th. Ross Stores’s payout ratio is 26.95%.

A number of research analysts recently commented on ROST shares. BidaskClub downgraded Ross Stores from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Nomura boosted their price target on Ross Stores from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Barclays started coverage on Ross Stores in a research note on Tuesday. They issued an “equal weight” rating and a $106.00 price target for the company. Deutsche Bank boosted their price target on Ross Stores from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, August 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Ross Stores in a research note on Friday, August 24th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $95.17.

In other Ross Stores news, insider James S. Fassio sold 175,769 shares of the business’s stock in a transaction dated Thursday, June 21st. The stock was sold at an average price of $86.57, for a total transaction of $15,216,322.33. Following the completion of the transaction, the insider now owns 82,899 shares of the company’s stock, valued at $7,176,566.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Norman A. Ferber sold 10,144 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $94.90, for a total value of $962,665.60. Following the transaction, the director now directly owns 25,127 shares of the company’s stock, valued at approximately $2,384,552.30. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Ross Stores Profile

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

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Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST).

Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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