Huntington National Bank raised its stake in shares of Ross Stores Inc. (NASDAQ:ROST) by 323.9% during the second quarter, Holdings Channel reports. The institutional investor owned 15,629 shares of the apparel retailer’s stock after buying an additional 11,942 shares during the period. Huntington National Bank’s holdings in Ross Stores were worth $886,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Ngam Advisors L.P. boosted its stake in Ross Stores by 19.8% in the first quarter. Ngam Advisors L.P. now owns 36,137 shares of the apparel retailer’s stock valued at $2,092,000 after buying an additional 5,975 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Ross Stores during the first quarter valued at $140,000. Menta Capital LLC increased its position in Ross Stores by 11.5% in the first quarter. Menta Capital LLC now owns 11,600 shares of the apparel retailer’s stock valued at $672,000 after buying an additional 1,200 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Ross Stores by 1,047.3% in the first quarter. Canada Pension Plan Investment Board now owns 128,500 shares of the apparel retailer’s stock valued at $7,440,000 after buying an additional 117,300 shares during the last quarter. Finally, BB&T Securities LLC increased its position in Ross Stores by 25.3% in the first quarter. BB&T Securities LLC now owns 10,829 shares of the apparel retailer’s stock valued at $627,000 after buying an additional 2,189 shares during the last quarter. 90.20% of the stock is owned by institutional investors and hedge funds.
Shares of Ross Stores Inc. (NASDAQ:ROST) traded down 1.30% during mid-day trading on Tuesday, hitting $63.55. The stock had a trading volume of 2,262,729 shares. The firm’s 50 day moving average price is $63.28 and its 200-day moving average price is $59.01. Ross Stores Inc. has a one year low of $43.47 and a one year high of $66.28. The company has a market cap of $25.20 billion, a PE ratio of 24.19 and a beta of 0.94.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.04. Ross Stores had a net margin of 8.55% and a return on equity of 42.01%. The company earned $3.18 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that Ross Stores Inc. will post $2.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Wednesday, August 31st. Ross Stores’s payout ratio is presently 20.53%.
Several equities analysts recently weighed in on the company. MKM Partners reaffirmed a “buy” rating and issued a $72.00 price objective (up from $65.00) on shares of Ross Stores in a research note on Monday, August 22nd. Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Monday, August 22nd. Vetr downgraded Ross Stores from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research note on Monday, August 22nd. Buckingham Research raised Ross Stores from a “neutral” rating to a “buy” rating in a research note on Thursday, August 25th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Ross Stores in a research note on Friday, September 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Ross Stores has a consensus rating of “Buy” and a consensus price target of $65.25.
In related news, Director Gregory L. Quesnel sold 16,000 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $64.39, for a total value of $1,030,240.00. Following the completion of the sale, the director now owns 19,370 shares in the company, valued at $1,247,234.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James S. Fassio sold 12,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $63.35, for a total transaction of $760,200.00. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.
About Ross Stores
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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