Dynamic Technology Lab Private Ltd acquired a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) during the first quarter, Holdings Channel reports. The institutional investor acquired 7,309 shares of the apparel retailer’s stock, valued at approximately $481,000.
A number of other large investors also recently added to or reduced their stakes in ROST. A.R.T. Advisors LLC increased its stake in shares of Ross Stores by 1,419.0% in the fourth quarter. A.R.T. Advisors LLC now owns 127,600 shares of the apparel retailer’s stock valued at $8,370,000 after buying an additional 119,200 shares during the period. Retirement Systems of Alabama boosted its position in Ross Stores by 1.4% in the first quarter. Retirement Systems of Alabama now owns 190,510 shares of the apparel retailer’s stock valued at $12,549,000 after buying an additional 2,542 shares in the last quarter. Westport Asset Management Inc. purchased a new position in Ross Stores during the fourth quarter valued at $1,312,000. Aberdeen Asset Management PLC UK boosted its position in Ross Stores by 42.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 223,906 shares of the apparel retailer’s stock valued at $14,688,000 after buying an additional 67,252 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its position in Ross Stores by 8.1% in the fourth quarter. First Republic Investment Management Inc. now owns 28,210 shares of the apparel retailer’s stock valued at $1,851,000 after buying an additional 2,114 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.
Shares of Ross Stores, Inc. (NASDAQ ROST) traded up 1.04% during trading on Friday, hitting $61.96. The stock had a trading volume of 2,498,629 shares. The company has a market cap of $23.94 billion, a PE ratio of 21.23 and a beta of 0.94. The firm’s 50 day moving average is $63.57 and its 200 day moving average is $65.88. Ross Stores, Inc. has a 1-year low of $52.75 and a 1-year high of $69.81.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. The business had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.27 billion. Ross Stores had a return on equity of 42.09% and a net margin of 8.58%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Equities research analysts anticipate that Ross Stores, Inc. will post $3.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Tuesday, June 6th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 2nd. This represents a $0.64 annualized dividend and a yield of 1.03%. Ross Stores’s payout ratio is 19.85%.
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Several research firms have recently weighed in on ROST. Instinet upped their price objective on Ross Stores from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 1st. Telsey Advisory Group increased their price target on Ross Stores from $70.00 to $77.00 and gave the company a “market perform” rating in a research report on Wednesday, March 1st. Wedbush increased their price target on Ross Stores from $71.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, March 1st. Jefferies Group LLC increased their price target on Ross Stores from $59.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday, March 1st. Finally, BMO Capital Markets increased their price target on Ross Stores from $65.00 to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, March 1st. Twelve analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $69.82.
In other news, Chairman Michael Balmuth sold 51,207 shares of the stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $67.29, for a total transaction of $3,445,719.03. Following the completion of the sale, the chairman now directly owns 145,666 shares in the company, valued at $9,801,865.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sharon D. Garrett sold 16,130 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the sale, the director now owns 4,967 shares of the company’s stock, valued at $314,063.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,839 shares of company stock valued at $13,171,640. Company insiders own 2.40% 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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