Roosevelt Investment Group Inc. reduced its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 4.6% during the first quarter, Holdings Channel reports. The institutional investor owned 183,193 shares of the apparel retailer’s stock after selling 8,826 shares during the period. Roosevelt Investment Group Inc.’s holdings in Ross Stores were worth $12,067,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of Ross Stores by 1.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,295,824 shares of the apparel retailer’s stock valued at $612,317,000 after buying an additional 146,423 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Ross Stores by 29.2% in the first quarter. Ameriprise Financial Inc. now owns 5,151,764 shares of the apparel retailer’s stock valued at $339,347,000 after buying an additional 1,165,463 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Ross Stores by 5.3% in the first quarter. UBS Asset Management Americas Inc. now owns 3,921,234 shares of the apparel retailer’s stock valued at $258,292,000 after buying an additional 196,722 shares in the last quarter. American Century Companies Inc. raised its position in shares of Ross Stores by 20.3% in the first quarter. American Century Companies Inc. now owns 3,518,907 shares of the apparel retailer’s stock valued at $231,790,000 after buying an additional 594,419 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Ross Stores by 8.5% in the first quarter. Wellington Management Group LLP now owns 3,489,592 shares of the apparel retailer’s stock valued at $229,860,000 after buying an additional 273,016 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.
Ross Stores, Inc. (NASDAQ:ROST) opened at 56.29 on Friday. The firm has a market capitalization of $21.91 billion, a price-to-earnings ratio of 19.28 and a beta of 1.07. Ross Stores, Inc. has a 12-month low of $52.75 and a 12-month high of $69.81. The company’s 50 day moving average price is $62.72 and its 200-day moving average price is $65.46. Ross Stores also saw some unusual options trading on Friday. Traders acquired 5,918 put options on the company. This represents an increase of approximately 454% compared to the typical daily volume of 1,068 put options.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Ross Stores had a return on equity of 42.56% and a net margin of 8.77%. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the company earned $0.73 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that Ross Stores, Inc. will post $3.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Tuesday, June 6th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.14%. Ross Stores’s dividend payout ratio (DPR) is currently 21.92%.
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ROST has been the subject of several research analyst reports. Royal Bank Of Canada set a $70.00 price objective on Ross Stores and gave the company a “hold” rating in a research report on Monday, May 15th. Telsey Advisory Group decreased their price objective on Ross Stores from $77.00 to $70.00 and set a “market perform” rating for the company in a research report on Friday, May 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $63.00 price objective on shares of Ross Stores in a research report on Tuesday, May 16th. Northcoast Research reiterated a “neutral” rating on shares of Ross Stores in a research report on Wednesday, March 1st. Finally, BidaskClub lowered Ross Stores from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 17th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Ross Stores presently has an average rating of “Hold” and a consensus price target of $70.00.
In related news, Director Michael J. Bush sold 8,762 shares of Ross Stores stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $66.51, for a total transaction of $582,760.62. Following the sale, the director now directly owns 36,180 shares in the company, valued at $2,406,331.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian R. Morrow sold 3,004 shares of Ross Stores stock in a transaction on Friday, April 7th. The stock was sold at an average price of $63.16, for a total value of $189,732.64. Following the sale, the insider now owns 121,712 shares in the company, valued at $7,687,329.92. The disclosure for this sale can be found here. Insiders have sold 27,896 shares of company stock worth $1,792,393 over the last quarter. 2.30% of the stock is currently owned by corporate insiders.
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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