Thrivent Financial for Lutherans lessened its stake in Ross Stores (NASDAQ:ROST) by 7.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,892 shares of the apparel retailer’s stock after selling 14,278 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ross Stores were worth $14,652,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of ROST. Amundi Pioneer Asset Management Inc. increased its position in Ross Stores by 63.4% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,456,503 shares of the apparel retailer’s stock valued at $437,885,000 after acquiring an additional 2,117,771 shares in the last quarter. Rockefeller Financial Services Inc. bought a new position in shares of Ross Stores in the 4th quarter valued at about $117,845,000. American Century Companies Inc. boosted its stake in shares of Ross Stores by 35.2% in the 1st quarter. American Century Companies Inc. now owns 3,101,330 shares of the apparel retailer’s stock valued at $241,842,000 after purchasing an additional 807,366 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Ross Stores by 58.1% in the 4th quarter. Millennium Management LLC now owns 2,005,253 shares of the apparel retailer’s stock valued at $160,922,000 after purchasing an additional 736,599 shares during the last quarter. Finally, Element Capital Management LLC bought a new position in shares of Ross Stores in the 4th quarter valued at about $49,775,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.
Shares of Ross Stores opened at $82.47 on Monday, according to MarketBeat Ratings. 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 has a twelve month low of $52.85 and a twelve month high of $85.66. The company has a market capitalization of $31.23 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 2.05 and a beta of 1.06.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.05. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.95 billion. analysts anticipate that Ross Stores will post 4.03 earnings per share for the current year.
Ross Stores announced that its board has initiated a share buyback plan on Tuesday, March 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, Chairman Michael Balmuth sold 59,777 shares of Ross Stores stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $76.53, for a total value of $4,574,733.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sharon D. Garrett sold 26,000 shares of Ross Stores stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $77.07, for a total transaction of $2,003,820.00. The disclosure for this sale can be found here. Insiders sold 256,652 shares of company stock worth $19,829,016 over the last quarter. 2.40% of the stock is owned by corporate insiders.
Several research analysts have recently issued reports on ROST shares. Susquehanna Bancshares set a $95.00 target price on shares of Ross Stores and gave the company a “buy” rating in a research note on Wednesday, March 7th. Loop Capital started coverage on shares of Ross Stores in a research note on Thursday, March 8th. They issued a “buy” rating and a $85.00 target price on the stock. Cowen set a $85.00 target price on shares of Ross Stores and gave the company a “buy” rating in a research note on Tuesday, March 6th. Credit Suisse Group started coverage on shares of Ross Stores in a research note on Monday, March 12th. They issued an “outperform” rating and a $88.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Friday, March 9th. Seven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target 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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