LMR Partners LLP raised its position in shares of Ross Stores Inc. (NASDAQ:ROST) by 102.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 39,530 shares of the apparel retailer’s stock after buying an additional 20,030 shares during the period. LMR Partners LLP’s holdings in Ross Stores were worth $2,241,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. NN Investment Partners Holdings N.V. acquired a new stake in Ross Stores during the first quarter worth $140,000. Carroll Financial Associates Inc. boosted its stake in Ross Stores by 0.7% in the second quarter. Carroll Financial Associates Inc. now owns 2,605 shares of the apparel retailer’s stock worth $147,000 after buying an additional 17 shares during the period. Independent Portfolio Consultants Inc. acquired a new stake in Ross Stores during the second quarter worth $151,000. Citizens Financial Group Inc RI boosted its stake in 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 worth $159,000 after buying an additional 931 shares during the period. Finally, Springbok Capital Management LLC acquired a new stake in Ross Stores during the first quarter worth $160,000. Institutional investors and hedge funds own 90.21% of the company’s stock.
Shares of Ross Stores Inc. (NASDAQ:ROST) traded down 0.17% during midday trading on Thursday, reaching $64.37. The company’s stock had a trading volume of 1,757,466 shares. Ross Stores Inc. has a 52-week low of $43.47 and a 52-week high of $66.28. The stock has a market cap of $25.53 billion, a price-to-earnings ratio of 24.50 and a beta of 0.94. The stock has a 50-day moving average price of $63.11 and a 200-day moving average price of $58.61.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. Ross Stores had a return on equity of 42.01% and a net margin of 8.55%. The firm earned $3.18 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the business earned $0.63 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. 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 issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 0.84%. The ex-dividend date was Wednesday, August 31st. Ross Stores’s dividend payout ratio is presently 20.53%.
A number of research firms recently weighed in on ROST. Royal Bank Of Canada increased their price target on Ross Stores from $56.00 to $65.00 and gave the company a “sector perform” rating in a research note on Friday, August 19th. JPMorgan Chase & Co. increased their price objective on Ross Stores from $51.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, August 19th. Wedbush increased their price objective on Ross Stores from $65.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Cowen and Company increased their price objective on Ross Stores from $61.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 13th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Ross Stores in a research 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 company currently has a consensus rating of “Buy” and a consensus price target of $65.25.
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 completion of the sale, the director now directly owns 506,750 shares in the company, valued at approximately $29,148,260. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Barbara Rentler sold 12,840 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $63.76, for a total value of $818,678.40. Following the sale, the chief executive officer now owns 542,851 shares of the company’s stock, valued at $34,612,179.76. 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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