Redwood Investments LLC increased its stake in shares of Ross Stores Inc. (NASDAQ:ROST) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 331,029 shares of the apparel retailer’s stock after buying an additional 12,142 shares during the period. Ross Stores accounts for about 1.7% of Redwood Investments LLC’s portfolio, making the stock its 18th largest position. Redwood Investments LLC’s holdings in Ross Stores were worth $18,766,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. NN Investment Partners Holdings N.V. bought a new position in shares of Ross Stores during the first quarter valued at approximately $140,000. Carroll Financial Associates Inc. raised its position in shares of Ross Stores by 0.7% in the second quarter. Carroll Financial Associates Inc. now owns 2,605 shares of the apparel retailer’s stock valued at $147,000 after buying an additional 17 shares during the last quarter. Independent Portfolio Consultants Inc. bought a new position in shares of Ross Stores during the second quarter valued at approximately $151,000. Citizens Financial Group Inc RI raised its position in shares of Ross Stores by 51.6% in the first quarter. Citizens Financial Group Inc RI now owns 2,737 shares of the apparel retailer’s stock valued at $159,000 after buying an additional 931 shares during the last quarter. Finally, Springbok Capital Management LLC bought a new position in shares of Ross Stores during the first quarter valued at approximately $160,000. 90.21% of the stock is owned by hedge funds and other institutional investors.
Ross Stores Inc. (NASDAQ:ROST) traded down 0.11% during trading on Monday, reaching $64.23. The company’s stock had a trading volume of 2,091,079 shares. Ross Stores Inc. has a 1-year low of $43.47 and a 1-year high of $66.28. The company’s 50-day moving average is $62.97 and its 200-day moving average is $58.48. The company has a market capitalization of $25.47 billion, a P/E ratio of 24.45 and a beta of 0.94.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 18th. The apparel retailer reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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%. Ross Stores’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. Equities analysts anticipate that Ross Stores Inc. will post $2.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Wednesday, August 31st. Ross Stores’s payout ratio is currently 20.53%.
Several equities analysts recently weighed in on the stock. Cowen and Company increased their price target on shares of Ross Stores from $61.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, July 13th. Vetr downgraded shares of Ross Stores from a “strong-buy” rating to a “buy” rating and set a $60.50 price target on the stock. in a report on Monday, June 27th. Deutsche Bank AG reiterated a “buy” rating on shares of Ross Stores in a report on Tuesday, June 14th. Stifel Nicolaus reiterated a “hold” rating on shares of Ross Stores in a report on Friday, August 19th. Finally, RBC Capital Markets set a $65.00 price target on shares of Ross Stores and gave the stock a “hold” rating in a report on Friday, August 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $65.29.
In related news, Director George Orban sold 56,000 shares of the stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $57.52, for a total transaction of $3,221,120.00. Following the transaction, the director now directly owns 506,750 shares in the company, valued at $29,148,260. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James S. Fassio sold 12,000 shares of the 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 disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
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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