HMS Capital Management LLC trimmed its position in Ross Stores, Inc. (NASDAQ:ROST) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,573 shares of the apparel retailer’s stock after selling 162 shares during the period. HMS Capital Management LLC’s holdings in Ross Stores were worth $832,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Ross Stores by 16.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 22,522,025 shares of the apparel retailer’s stock worth $2,232,384,000 after purchasing an additional 3,204,917 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Ross Stores by 516.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,449,268 shares of the apparel retailer’s stock worth $242,772,000 after purchasing an additional 2,051,862 shares in the last quarter. Bessemer Group Inc. increased its stake in Ross Stores by 524.7% during the 2nd quarter. Bessemer Group Inc. now owns 1,272,506 shares of the apparel retailer’s stock worth $126,132,000 after purchasing an additional 1,068,815 shares in the last quarter. Morgan Stanley increased its stake in Ross Stores by 51.4% during the 2nd quarter. Morgan Stanley now owns 1,689,543 shares of the apparel retailer’s stock worth $167,468,000 after purchasing an additional 573,749 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Ross Stores by 74.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,308,687 shares of the apparel retailer’s stock worth $129,717,000 after purchasing an additional 559,338 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.
In other news, CEO Barbara Rentler sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $107.06, for a total transaction of $2,676,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James S. Fassio sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $108.66, for a total transaction of $1,629,900.00. Insiders have sold a total of 65,000 shares of company stock valued at $7,056,650 over the last ninety days. Company insiders own 2.30% of the company’s stock.
Shares of ROST traded up $0.61 during mid-day trading on Tuesday, hitting $112.01. 82,493 shares of the company’s stock were exchanged, compared to its average volume of 1,918,204. The company has a market cap of $40.68 billion, a PE ratio of 26.31, a P/E/G ratio of 2.38 and a beta of 0.84. Ross Stores, Inc. has a 52 week low of $75.91 and a 52 week high of $113.51. The company has a 50-day simple moving average of $108.01 and a 200 day simple moving average of $101.96. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 0.63.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.02. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Ross Stores had a net margin of 10.46% and a return on equity of 49.21%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $1.04 EPS. On average, analysts anticipate that Ross Stores, Inc. will post 4.5 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.255 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $1.02 annualized dividend and a dividend yield of 0.91%. Ross Stores’s dividend payout ratio is currently 23.94%.
ROST has been the subject of a number of research reports. Goldman Sachs Group cut Ross Stores from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $102.00 to $91.00 in a research note on Thursday, June 27th. Robert W. Baird reissued an “outperform” rating and set a $114.00 target price (up from $108.00) on shares of Ross Stores in a research note on Friday, August 23rd. Cowen set a $116.00 target price on Ross Stores and gave the stock a “buy” rating in a research note on Friday, August 23rd. Loop Capital raised Ross Stores to a “buy” rating and set a $120.00 target price for the company in a research note on Friday, August 16th. Finally, Bank of America set a $120.00 target price on Ross Stores and gave the stock a “buy” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $108.11.
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. 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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