Montag A & Associates Inc. lowered its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 32.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,690 shares of the apparel retailer’s stock after selling 4,562 shares during the period. Montag A & Associates Inc.’s holdings in Ross Stores were worth $902,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC raised its position in Ross Stores by 41.9% during the 1st quarter. Parallel Advisors LLC now owns 3,158 shares of the apparel retailer’s stock worth $294,000 after purchasing an additional 933 shares during the last quarter. Pictet & Cie Europe SA bought a new position in shares of Ross Stores in the 1st quarter worth about $407,000. Montag & Caldwell LLC raised its position in shares of Ross Stores by 9,471.5% in the 1st quarter. Montag & Caldwell LLC now owns 311,171 shares of the apparel retailer’s stock worth $28,970,000 after acquiring an additional 307,920 shares in the last quarter. Bank Pictet & Cie Asia Ltd. bought a new position in shares of Ross Stores in the 1st quarter worth about $826,000. Finally, Menta Capital LLC acquired a new stake in shares of Ross Stores in the 1st quarter valued at about $344,000. Institutional investors own 88.97% of the company’s stock.
In related news, EVP Michael J. Hartshorn sold 9,924 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $91.48, for a total value of $907,847.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bernard G. Brautigan sold 19,384 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $93.56, for a total transaction of $1,813,567.04. The disclosure for this sale can be found here. Insiders have sold a total of 137,054 shares of company stock valued at $12,504,328 over the last 90 days. Company insiders own 2.30% of the company’s stock.
Several analysts have recently commented on ROST shares. DA Davidson raised their target price on Ross Stores to $92.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Guggenheim restated a “buy” rating and issued a $105.00 target price on shares of Ross Stores in a research note on Tuesday, March 5th. BidaskClub downgraded Ross Stores from a “hold” rating to a “sell” rating in a research note on Wednesday, March 13th. Wells Fargo & Co lifted their price target on Ross Stores from $92.00 to $104.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Finally, Credit Suisse Group lifted their price target on Ross Stores from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $98.13.
ROST stock traded down $1.03 during midday trading on Wednesday, reaching $90.30. 3,095,000 shares of the company’s stock traded hands, compared to its average volume of 2,311,253. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.34 and a quick ratio of 0.64. Ross Stores, Inc. has a 52 week low of $75.91 and a 52 week high of $104.35. The stock has a market capitalization of $34.09 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 1.98 and a beta of 0.89.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.79 billion. Ross Stores had a net margin of 10.47% and a return on equity of 48.92%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.11 EPS. Equities research analysts anticipate that Ross Stores, Inc. will post 4.5 EPS for the current year.
Ross Stores declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 5th that authorizes the company to repurchase $2.55 billion in shares. This repurchase authorization authorizes the apparel retailer to purchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be given a dividend of $0.255 per share. The ex-dividend date is Monday, June 10th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.13%. Ross Stores’s dividend payout ratio (DPR) is currently 23.94%.
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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