First Allied Advisory Services Inc. lifted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 13.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,349 shares of the apparel retailer’s stock after purchasing an additional 405 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Ross Stores were worth $332,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Accident Compensation Corp acquired a new stake in Ross Stores in the first quarter valued at about $205,000. Enlightenment Research LLC acquired a new stake in Ross Stores in the second quarter valued at about $1,100,000. Hendershot Investments Inc. boosted its stake in Ross Stores by 0.7% in the second quarter. Hendershot Investments Inc. now owns 50,555 shares of the apparel retailer’s stock valued at $5,011,000 after buying an additional 345 shares in the last quarter. Trellis Advisors LLC acquired a new stake in Ross Stores in the first quarter valued at about $218,000. Finally, Ballentine Partners LLC boosted its stake in Ross Stores by 9.7% in the second quarter. Ballentine Partners LLC now owns 7,091 shares of the apparel retailer’s stock valued at $702,000 after buying an additional 629 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on the company. Wells Fargo & Co raised their price objective on Ross Stores from $104.00 to $116.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Guggenheim set a $120.00 price target on Ross Stores and gave the company a “buy” rating in a research note on Friday, August 23rd. Deutsche Bank lifted their price target on Ross Stores from $107.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Robert W. Baird reissued an “outperform” rating and set a $114.00 price target (up from $108.00) on shares of Ross Stores in a research note on Friday, August 23rd. Finally, Telsey Advisory Group lowered Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 price target on the stock. in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Ross Stores has an average rating of “Buy” and a consensus target price of $107.61.
Shares of ROST opened at $109.05 on Friday. Ross Stores, Inc. has a 1 year low of $75.91 and a 1 year high of $110.88. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 0.63. The company has a market capitalization of $39.15 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 2.29 and a beta of 0.84. The business has a 50-day moving average of $106.22 and a 200-day moving average of $100.31.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.02. Ross Stores had a return on equity of 49.21% and a net margin of 10.46%. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period last year, the company earned $1.04 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ross Stores, Inc. will post 4.5 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.94%. Ross Stores’s dividend payout ratio (DPR) is 23.94%.
In other news, CEO Barbara Rentler sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $107.06, for a total transaction of $2,676,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James S. Fassio sold 85,238 shares of Ross Stores stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $104.85, for a total value of $8,937,204.30. The disclosure for this sale can be found here. Insiders have sold 155,238 shares of company stock valued at $16,416,914 over the last 90 days. 2.30% of the stock is owned by corporate insiders.
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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