SG Americas Securities LLC purchased a new stake in Ross Stores, Inc. (NASDAQ:ROST) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 68,061 shares of the apparel retailer’s stock, valued at approximately $6,336,000.
A number of other institutional investors have also recently bought and sold shares of the business. Advisor Group Inc. boosted its position in shares of Ross Stores by 11.7% in the 4th quarter. Advisor Group Inc. now owns 35,082 shares of the apparel retailer’s stock worth $2,921,000 after purchasing an additional 3,663 shares during the last quarter. Cetera Advisor Networks LLC raised its stake in Ross Stores by 440.8% during the 4th quarter. Cetera Advisor Networks LLC now owns 13,027 shares of the apparel retailer’s stock worth $1,083,000 after buying an additional 10,618 shares during the period. State of Alaska Department of Revenue raised its stake in Ross Stores by 1.3% during the 1st quarter. State of Alaska Department of Revenue now owns 180,979 shares of the apparel retailer’s stock worth $16,848,000 after buying an additional 2,324 shares during the period. Legacy Advisors LLC acquired a new stake in Ross Stores during the 1st quarter worth $67,000. Finally, Gateway Investment Advisers LLC raised its stake in shares of Ross Stores by 10.6% in the 4th quarter. Gateway Investment Advisers LLC now owns 57,632 shares of the apparel retailer’s stock valued at $4,795,000 after purchasing an additional 5,514 shares during the period. 88.31% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ ROST traded down $1.73 during midday trading on Friday, reaching $92.78. The company’s stock had a trading volume of 5,842,900 shares, compared to its average volume of 2,275,689. The company has a current ratio of 1.69, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09. Ross Stores, Inc. has a fifty-two week low of $75.91 and a fifty-two week high of $104.35. The company has a market cap of $34.73 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 2.08 and a beta of 0.89.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. Ross Stores had a net margin of 10.60% and a return on equity of 49.58%. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the previous year, the business earned $1.11 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. On average, equities research analysts forecast that Ross Stores, Inc. will post 4.5 earnings per share for the current year.
Ross Stores announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 5th that allows the company to repurchase $2.55 billion in outstanding shares. This repurchase authorization allows the apparel retailer to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be issued a dividend of $0.255 per share. The ex-dividend date is Monday, June 10th. This represents a $1.02 annualized dividend and a dividend yield of 1.10%. Ross Stores’s dividend payout ratio (DPR) is presently 23.94%.
In other news, Chairman Michael Balmuth sold 25,689 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $90.77, for a total transaction of $2,331,790.53. Following the completion of the transaction, the chairman now directly owns 51,998 shares in the company, valued at $4,719,858.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bernard G. Brautigan sold 12,000 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $91.18, for a total transaction of $1,094,160.00. Following the transaction, the insider now owns 174,450 shares of the company’s stock, valued at $15,906,351. The disclosure for this sale can be found here. Insiders have sold 137,054 shares of company stock valued at $12,504,328 over the last quarter. Company insiders own 2.30% of the company’s stock.
Several analysts have issued reports on the company. BidaskClub raised Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded Ross Stores from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Guggenheim restated a “buy” rating and issued a $105.00 price objective on shares of Ross Stores in a report on Friday. Robert W. Baird assumed coverage on Ross Stores in a report on Monday, May 13th. They issued an “outperform” rating and a $108.00 price objective for the company. Finally, Credit Suisse Group raised their price objective on Ross Stores from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Ten research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $97.84.
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Ross Stores Company 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. Its stores 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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