Oppenheimer & Co. Inc. cut its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 9.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,070 shares of the apparel retailer’s stock after selling 506 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ross Stores were worth $503,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in ROST. Accident Compensation Corp bought a new stake in Ross Stores during the 1st quarter worth approximately $205,000. Enlightenment Research LLC purchased a new stake in Ross Stores in the 2nd quarter valued at $1,100,000. Hendershot Investments Inc. raised its position in Ross Stores by 0.7% in the 2nd quarter. Hendershot Investments Inc. now owns 50,555 shares of the apparel retailer’s stock valued at $5,011,000 after buying an additional 345 shares during the last quarter. Trellis Advisors LLC bought a new position in Ross Stores during the 1st quarter valued at $218,000. Finally, Ballentine Partners LLC lifted its stake in Ross Stores by 9.7% during the 2nd quarter. Ballentine Partners LLC now owns 7,091 shares of the apparel retailer’s stock valued at $702,000 after acquiring an additional 629 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.
NASDAQ:ROST traded down $0.26 during trading hours on Wednesday, reaching $107.90. The company’s stock had a trading volume of 48,012 shares, compared to its average volume of 2,053,430. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.63 and a current ratio of 1.31. The firm has a market capitalization of $39.57 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 2.32 and a beta of 0.84. The firm has a 50-day simple moving average of $105.27 and a 200-day simple moving average of $99.17. Ross Stores, Inc. has a 1 year low of $75.91 and a 1 year high of $110.67.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 22nd. The apparel retailer reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.02. Ross Stores had a return on equity of 49.21% and a net margin of 10.46%. The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the firm earned $1.04 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. Equities analysts anticipate that Ross Stores, Inc. will post 4.5 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 12th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.02 annualized dividend and a dividend yield of 0.95%. Ross Stores’s dividend payout ratio (DPR) is presently 23.94%.
In related news, Director George Orban sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $102.50, for a total value of $102,500.00. Following the transaction, the director now owns 543,939 shares in the company, valued at approximately $55,753,747.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider James S. Fassio sold 60,000 shares of the stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $103.38, for a total transaction of $6,202,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 240,238 shares of company stock valued at $24,956,214. Corporate insiders own 2.30% of the company’s stock.
Several analysts have recently issued reports on ROST shares. MKM Partners upped their target price on shares of Ross Stores from $102.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Goldman Sachs Group lowered Ross Stores from a “neutral” rating to a “sell” rating and lowered their target price for the company from $102.00 to $91.00 in a research note on Thursday, June 27th. BidaskClub upgraded Ross Stores from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Guggenheim set a $120.00 price target on shares of Ross Stores and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Jefferies Financial Group set a $100.00 price target on shares of Ross Stores and gave the company a “hold” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Ross Stores has an average rating of “Buy” and an average price target of $107.61.
Ross Stores 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. Its stores 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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