Janney Montgomery Scott LLC decreased its position in Ross Stores, Inc. (NASDAQ:ROST) by 3.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,356 shares of the apparel retailer’s stock after selling 380 shares during the period. Janney Montgomery Scott LLC’s holdings in Ross Stores were worth $598,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Ross Stores by 1,908.5% in the first quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock valued at $1,742,545,000 after buying an additional 25,137,186 shares in the last quarter. Flossbach Von Storch AG boosted its stake in Ross Stores by 7,335.3% in the second quarter. Flossbach Von Storch AG now owns 5,000,270 shares of the apparel retailer’s stock valued at $288,666,000 after buying an additional 4,933,020 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ross Stores by 3.5% in the first quarter. Vanguard Group Inc. now owns 35,460,595 shares of the apparel retailer’s stock valued at $2,335,790,000 after buying an additional 1,208,861 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in Ross Stores during the first quarter valued at about $79,225,000. Finally, Marshall Wace North America L.P. bought a new stake in Ross Stores during the first quarter valued at about $79,225,000. 90.20% of the stock is currently owned by institutional investors and hedge funds.
Ross Stores, Inc. (NASDAQ ROST) opened at 53.33 on Friday. The company has a market cap of $20.76 billion, a price-to-earnings ratio of 18.27 and a beta of 1.10. Ross Stores, Inc. has a 52-week low of $52.85 and a 52-week high of $69.81. The stock’s 50 day moving average is $55.13 and its 200 day moving average is $62.15. Ross Stores also saw some unusual options trading on Tuesday. Stock investors purchased 12,143 call options on the company. This is an increase of 1,039% compared to the typical volume of 1,066 call options.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.37 billion. Ross Stores had a return on equity of 42.56% and a net margin of 8.77%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $0.71 earnings per share. On average, analysts predict that Ross Stores, Inc. will post $3.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 7th will be issued a dividend of $0.16 per share. The ex-dividend date is Wednesday, September 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.20%. Ross Stores’s payout ratio is presently 21.92%.
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Several research firms recently issued reports on ROST. BMO Capital Markets set a $65.00 price target on shares of Ross Stores and gave the company a “hold” rating in a report on Tuesday, August 8th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $64.00 price target (down from $70.00) on shares of Ross Stores in a report on Tuesday, August 8th. Zacks Investment Research cut shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub raised shares of Ross Stores from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Telsey Advisory Group raised shares of Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a report on Friday, July 14th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company’s stock. Ross Stores currently has a consensus rating of “Hold” and an average price target of $69.41.
In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of Ross Stores stock in a transaction on Friday, May 26th. The stock was sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the completion of the transaction, the director now directly owns 4,967 shares of the company’s stock, valued at $314,063.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by company insiders.
About Ross Stores
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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