Thomas White International Ltd. lowered its position in Ross Stores, Inc. (NASDAQ:ROST) by 8.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,691 shares of the apparel retailer’s stock after selling 1,325 shares during the quarter. Thomas White International Ltd.’s holdings in Ross Stores were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of ROST. Schwab Charles Investment Management Inc. boosted its stake in Ross Stores by 1.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,374,214 shares of the apparel retailer’s stock worth $110,281,000 after buying an additional 15,693 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Ross Stores by 17.7% in the fourth quarter. Acadian Asset Management LLC now owns 58,247 shares of the apparel retailer’s stock worth $4,674,000 after buying an additional 8,757 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in Ross Stores in the fourth quarter worth approximately $366,000. SG Americas Securities LLC boosted its stake in Ross Stores by 598.6% in the fourth quarter. SG Americas Securities LLC now owns 43,371 shares of the apparel retailer’s stock worth $3,481,000 after buying an additional 37,163 shares in the last quarter. Finally, APG Asset Management N.V. boosted its stake in Ross Stores by 23.5% in the fourth quarter. APG Asset Management N.V. now owns 713,476 shares of the apparel retailer’s stock worth $47,682,000 after buying an additional 135,800 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.
Shares of ROST stock opened at $77.34 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.64 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $31.41 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 2.06 and a beta of 1.06. Ross Stores, Inc. has a fifty-two week low of $52.85 and a fifty-two week high of $85.66.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 24th. The apparel retailer reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.54 billion. Ross Stores had a return on equity of 47.33% and a net margin of 10.13%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 earnings per share. equities analysts predict that Ross Stores, Inc. will post 4.03 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Tuesday, June 12th will be issued a dividend of $0.225 per share. The ex-dividend date is Monday, June 11th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.16%. Ross Stores’s dividend payout ratio is presently 26.95%.
Ross Stores declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the apparel retailer to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several analysts have issued reports on ROST shares. Credit Suisse Group started coverage on Ross Stores in a research note on Monday, March 12th. They issued an “outperform” rating and a $88.00 target price for the company. BidaskClub raised Ross Stores from a “hold” rating to a “buy” rating in a research note on Thursday, April 26th. SunTrust Banks reaffirmed a “buy” rating on shares of Ross Stores in a research note on Friday, February 2nd. Cowen set a $85.00 target price on Ross Stores and gave the stock a “buy” rating in a research note on Tuesday, March 6th. Finally, Buckingham Research reaffirmed a “neutral” rating and issued a $86.00 target price (up previously from $82.00) on shares of Ross Stores in a research note on Wednesday, March 7th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $82.46.
In related news, insider Bernard G. Brautigan sold 18,171 shares of the company’s stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $75.71, for a total transaction of $1,375,726.41. Following the completion of the transaction, the insider now owns 170,718 shares in the company, valued at $12,925,059.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Barbara Rentler sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, April 12th. The shares were sold at an average price of $78.25, for a total value of $1,173,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 256,652 shares of company stock valued at $19,829,016. 2.30% of the stock is owned by corporate insiders.
About Ross Stores
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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