Chase Investment Counsel Corp raised its stake in Ross Stores Inc. (NASDAQ:ROST) by 0.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 82,985 shares of the apparel retailer’s stock after buying an additional 588 shares during the period. Ross Stores makes up about 2.1% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 17th largest position. Chase Investment Counsel Corp’s holdings in Ross Stores were worth $4,704,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Japan Co. Ltd boosted its position in Ross Stores by 13.4% in the first quarter. BlackRock Japan Co. Ltd now owns 583,524 shares of the apparel retailer’s stock valued at $33,786,000 after buying an additional 69,172 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Ross Stores by 4.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 10,995,554 shares of the apparel retailer’s stock valued at $636,643,000 after buying an additional 517,305 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Ross Stores during the first quarter valued at $811,000. Insight Capital Research & Management Inc. purchased a new position in shares of Ross Stores during the first quarter valued at $1,717,000. Finally, BlackRock Group LTD boosted its position in shares of Ross Stores by 14.3% in the first quarter. BlackRock Group LTD now owns 3,885,806 shares of the apparel retailer’s stock valued at $224,988,000 after buying an additional 485,620 shares in the last quarter. 90.21% of the stock is owned by institutional investors.
Shares of Ross Stores Inc. (NASDAQ:ROST) traded up 0.99% during mid-day trading on Tuesday, hitting $64.39. The company’s stock had a trading volume of 2,200,689 shares. Ross Stores Inc. has a 1-year low of $43.47 and a 1-year high of $66.28. The company has a market cap of $25.54 billion, a price-to-earnings ratio of 24.51 and a beta of 0.84. The company has a 50-day moving average of $62.68 and a 200 day moving average of $58.32.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.13 billion. Ross Stores had a return on equity of 42.01% and a net margin of 8.55%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 earnings per share. On average, analysts expect that Ross Stores Inc. will post $2.77 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be issued a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.84%. Ross Stores’s dividend payout ratio (DPR) is 20.53%.
Several research analysts recently weighed in on ROST shares. Vetr raised Ross Stores from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Monday, August 1st. Citigroup Inc. raised their target price on Ross Stores from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, August 19th. Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Wednesday, July 20th. Miller Tabak assumed coverage on Ross Stores in a research note on Friday, June 24th. They set a “buy” rating and a $66.00 target price for the company. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Ross Stores in a report on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $65.09.
In other news, insider James S. Fassio sold 12,000 shares of the business’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $63.35, for a total value of $760,200.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Barbara Rentler sold 20,000 shares of the business’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $62.54, for a total value of $1,250,800.00. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
Ross Stores Company Profile
Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.
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