Penobscot Investment Management Company Inc. boosted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 7.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,740 shares of the apparel retailer’s stock after buying an additional 460 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Ross Stores were worth $389,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America increased its stake in shares of Ross Stores by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock valued at $101,000 after buying an additional 10 shares during the period. TrimTabs Asset Management LLC increased its stake in shares of Ross Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock valued at $108,000 after buying an additional 776 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Ross Stores by 3.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock valued at $108,000 after buying an additional 61 shares during the period. Parallel Advisors LLC increased its stake in shares of Ross Stores by 39.1% in the first quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock valued at $111,000 after buying an additional 478 shares during the period. Finally, Nikko Asset Management Americas Inc. bought a new stake in shares of Ross Stores during the first quarter valued at $112,000. Hedge funds and other institutional investors own 90.20% of the company’s stock.
Shares of Ross Stores, Inc. (NASDAQ ROST) opened at 59.02 on Friday. Ross Stores, Inc. has a 12 month low of $52.85 and a 12 month high of $69.81. The company has a 50 day moving average price of $55.18 and a 200-day moving average price of $62.10. The firm has a market capitalization of $22.97 billion, a PE ratio of 20.22 and a beta of 1.10.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.05. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.37 billion. Ross Stores had a return on equity of 43.40% and a net margin of 8.87%. Ross Stores’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 earnings per share. Equities research analysts expect that Ross Stores, Inc. will post $3.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 7th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.08%. The ex-dividend date is Wednesday, September 6th. Ross Stores’s dividend payout ratio is currently 21.12%.
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Several brokerages have weighed in on ROST. Cowen and Company restated an “outperform” rating and set a $55.00 price target on shares of Ross Stores in a report on Friday. MKM Partners upped their price target on Ross Stores from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Friday. Wolfe Research cut their price target on Ross Stores from $76.00 to $73.00 and set an “outperform” rating on the stock in a report on Friday. UBS AG cut their price target on Ross Stores from $70.00 to $64.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Credit Suisse Group set a $66.00 price target on Ross Stores and gave the stock a “hold” rating in a report on Friday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company’s stock. Ross Stores has a consensus rating of “Buy” and an average target price of $69.04.
In related news, Director Sharon D. Garrett sold 16,130 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $63.23, for a total value of $1,019,899.90. Following the completion of the sale, the director now directly owns 4,967 shares of the company’s stock, valued at $314,063.41. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.30% of the stock is owned by 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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