Bank of Hawaii decreased its holdings in shares of Ross Stores (NASDAQ:ROST) by 47.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,105 shares of the apparel retailer’s stock after selling 9,135 shares during the quarter. Bank of Hawaii’s holdings in Ross Stores were worth $788,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in shares of Ross Stores by 0.7% in the fourth quarter. Franklin Resources Inc. now owns 5,999,599 shares of the apparel retailer’s stock worth $481,468,000 after purchasing an additional 41,093 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in Ross Stores by 63.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,456,503 shares of the apparel retailer’s stock worth $437,885,000 after acquiring an additional 2,117,771 shares in the last quarter. American Century Companies Inc. grew its holdings in Ross Stores by 35.2% during the 1st quarter. American Century Companies Inc. now owns 3,101,330 shares of the apparel retailer’s stock worth $241,842,000 after acquiring an additional 807,366 shares in the last quarter. Old Mutual Global Investors UK Ltd. grew its holdings in Ross Stores by 0.6% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 2,826,871 shares of the apparel retailer’s stock worth $226,856,000 after acquiring an additional 17,381 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Ross Stores by 58.1% during the 4th quarter. Millennium Management LLC now owns 2,005,253 shares of the apparel retailer’s stock worth $160,922,000 after acquiring an additional 736,599 shares in the last quarter. 90.21% of the stock is currently owned by institutional investors.
NASDAQ ROST opened at $82.66 on Tuesday. The firm has a market cap of $31.03 billion, a PE ratio of 24.53, a P/E/G ratio of 2.03 and a beta of 1.06. Ross Stores has a 52 week low of $81.93 and a 52 week high of $82.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 1.64.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.05. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.95 billion. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. sell-side analysts expect that Ross Stores will post 4.03 earnings per share for the current fiscal year.
Ross Stores announced that its Board of Directors has authorized a share buyback plan on Tuesday, March 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the apparel retailer to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In related news, Chairman Michael Balmuth sold 59,777 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $76.53, for a total value of $4,574,733.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Barbara Rentler sold 32,430 shares of the business’s stock in a transaction that occurred on Thursday, April 5th. The shares were sold at an average price of $79.53, for a total value of $2,579,157.90. Following the completion of the sale, the chief executive officer now owns 534,318 shares of the company’s stock, valued at approximately $42,494,310.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 256,652 shares of company stock valued at $19,829,016. 2.40% of the stock is currently owned by corporate insiders.
Several research firms have commented on ROST. Deutsche Bank began coverage on shares of Ross Stores in a research report on Monday, April 30th. They set a “buy” rating and a $94.00 price target for the company. OTR Global assumed coverage on shares of Ross Stores in a research report on Tuesday, May 8th. They issued a “positive” rating for the company. Susquehanna Bancshares set a $95.00 price objective on shares of Ross Stores and gave the company a “buy” rating in a research report on Wednesday, March 7th. Jefferies Group reaffirmed a “hold” rating and issued a $73.00 price objective on shares of Ross Stores in a research report on Wednesday, March 7th. Finally, SunTrust Banks set a $93.00 price objective on shares of Ross Stores and gave the company a “buy” rating in a research report on Wednesday, March 7th. Seven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $81.95.
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 in the United States. It 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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