The Manufacturers Life Insurance Company lessened its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 439,500 shares of the apparel retailer’s stock after selling 18,547 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of Ross Stores worth $25,372,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of ROST. BlackRock Inc. raised its stake in shares of Ross Stores by 1,908.5% in the 1st quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock valued at $1,742,545,000 after purchasing an additional 25,137,186 shares during the period. Flossbach Von Storch AG raised its stake in shares of Ross Stores by 7,335.3% in the 2nd quarter. Flossbach Von Storch AG now owns 5,000,270 shares of the apparel retailer’s stock valued at $288,666,000 after purchasing an additional 4,933,020 shares during the period. Janus Henderson Group PLC raised its stake in shares of Ross Stores by 3,501.6% in the 2nd quarter. Janus Henderson Group PLC now owns 1,942,654 shares of the apparel retailer’s stock valued at $112,149,000 after purchasing an additional 1,888,715 shares during the period. Alliancebernstein L.P. raised its stake in shares of Ross Stores by 68.4% in the 2nd quarter. Alliancebernstein L.P. now owns 4,604,774 shares of the apparel retailer’s stock valued at $265,834,000 after purchasing an additional 1,870,314 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Ross Stores by 393.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,573,128 shares of the apparel retailer’s stock valued at $90,817,000 after purchasing an additional 1,254,028 shares during the period. 90.34% of the stock is currently owned by institutional investors and hedge funds.
Ross Stores, Inc. (ROST) opened at 63.12 on Monday. The firm’s 50-day moving average is $61.89 and its 200 day moving average is $60.41. Ross Stores, Inc. has a 12 month low of $52.85 and a 12 month high of $69.81. The firm has a market capitalization of $24.34 billion, a P/E ratio of 20.85 and a beta of 1.13.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts expect that Ross Stores, Inc. will post $3.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, September 7th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.01%. The ex-dividend date was Wednesday, September 6th. Ross Stores’s dividend payout ratio is presently 21.12%.
In other news, CEO Barbara Rentler sold 15,492 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total transaction of $945,012.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian R. Morrow sold 6,157 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total transaction of $402,052.10. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
Several equities analysts have recently weighed in on ROST shares. Zacks Investment Research upgraded Ross Stores from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday, August 21st. Instinet restated a “buy” rating and issued a $74.00 price objective on shares of Ross Stores in a report on Sunday, August 20th. UBS AG decreased their price objective on Ross Stores from $70.00 to $64.00 and set a “neutral” rating for the company in a report on Friday, August 18th. Telsey Advisory Group upgraded Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a report on Friday, July 14th. They noted that the move was a valuation call. Finally, Bank of America Corporation restated a “buy” rating and issued a $80.00 price objective on shares of Ross Stores in a report on Sunday, August 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Ross Stores presently has a consensus rating of “Buy” and a consensus price target of $70.17.
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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