Rockefeller Capital Management L.P. cut its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,349,479 shares of the apparel retailer’s stock after selling 3,462 shares during the period. Ross Stores comprises about 1.8% of Rockefeller Capital Management L.P.’s holdings, making the stock its 14th largest position. Rockefeller Capital Management L.P. owned 0.37% of Ross Stores worth $125,637,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. First Manhattan Co. bought a new stake in Ross Stores during the first quarter worth $27,000. Bollard Group LLC acquired a new stake in Ross Stores during the 4th quarter valued at approximately $25,000. CI Investments Inc. acquired a new stake in Ross Stores during the 4th quarter valued at approximately $26,000. Athena Capital Advisors LLC acquired a new stake in Ross Stores during the 4th quarter valued at approximately $29,000. Finally, Berman Capital Advisors LLC acquired a new stake in shares of Ross Stores during the 4th quarter worth approximately $32,000. 89.58% of the stock is currently owned by institutional investors.
In other news, CEO Barbara Rentler sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $99.16, for a total transaction of $3,966,400.00. Following the completion of the transaction, the chief executive officer now owns 473,922 shares of the company’s stock, valued at $46,994,105.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bernard G. Brautigan sold 19,384 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $93.56, for a total value of $1,813,567.04. The disclosure for this sale can be found here. Insiders have sold 200,433 shares of company stock valued at $19,509,788 in the last three months. 2.30% of the stock is owned by insiders.
ROST stock traded up $0.89 during mid-day trading on Wednesday, reaching $102.40. 1,938,700 shares of the company traded hands, compared to its average volume of 2,317,487. The company has a quick ratio of 0.64, a current ratio of 1.34 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $37.02 billion, a P/E ratio of 24.04, a P/E/G ratio of 2.19 and a beta of 0.90. Ross Stores, Inc. has a 52-week low of $75.91 and a 52-week high of $105.31. The company has a fifty day moving average price of $97.47.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.01. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.79 billion. Ross Stores had a return on equity of 48.92% and a net margin of 10.47%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 EPS. Analysts expect that Ross Stores, Inc. will post 4.51 earnings per share for the current fiscal year.
Ross Stores declared that its Board of Directors has approved a stock buyback program on Tuesday, March 5th that allows the company to buyback $2.55 billion in shares. This buyback authorization allows the apparel retailer to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed 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. This represents a $1.02 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Monday, June 10th. Ross Stores’s payout ratio is 23.94%.
Several analysts have recently commented on the stock. Telsey Advisory Group downgraded shares of Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 price objective for the company. in a research report on Monday. BidaskClub upgraded Ross Stores from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Guggenheim restated a “buy” rating and set a $105.00 price objective on shares of Ross Stores in a research note on Friday, May 24th. Robert W. Baird assumed coverage on Ross Stores in a research note on Monday, May 13th. They set an “outperform” rating and a $108.00 price objective on the stock. Finally, Zacks Investment Research upgraded Ross Stores from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Ross Stores currently has an average rating of “Buy” and an average price target of $99.23.
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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