Coho Partners Ltd. decreased its position in shares of Ross Stores (NASDAQ:ROST) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,228,700 shares of the apparel retailer’s stock after selling 37,581 shares during the period. Ross Stores comprises 2.5% of Coho Partners Ltd.’s portfolio, making the stock its 24th biggest position. Coho Partners Ltd.’s holdings in Ross Stores were worth $95,814,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pennsylvania Trust Co increased its holdings in shares of Ross Stores by 77.9% in the fourth quarter. Pennsylvania Trust Co now owns 6,848 shares of the apparel retailer’s stock valued at $550,000 after purchasing an additional 2,998 shares in the last quarter. Timber Hill LLC acquired a new stake in shares of Ross Stores in the fourth quarter valued at approximately $911,000. Tiemann Investment Advisors LLC acquired a new stake in shares of Ross Stores in the fourth quarter valued at approximately $227,000. First Trust Advisors LP increased its holdings in shares of Ross Stores by 43.1% in the fourth quarter. First Trust Advisors LP now owns 252,759 shares of the apparel retailer’s stock valued at $20,284,000 after purchasing an additional 76,167 shares in the last quarter. Finally, Paloma Partners Management Co increased its holdings in shares of Ross Stores by 53.7% in the fourth quarter. Paloma Partners Management Co now owns 10,543 shares of the apparel retailer’s stock valued at $846,000 after purchasing an additional 3,685 shares in the last quarter. 90.21% of the stock is owned by institutional investors.
A number of brokerages recently weighed in on ROST. Deutsche Bank began coverage on shares of Ross Stores in a report on Monday, April 30th. They issued a “buy” rating and a $94.00 price target for the company. OTR Global initiated coverage on shares of Ross Stores in a report on Tuesday, May 8th. They issued a “positive” rating for the company. Susquehanna Bancshares set a $95.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a report on Wednesday, March 7th. Jefferies Group reaffirmed a “hold” rating and set a $73.00 target price on shares of Ross Stores in a report on Wednesday, March 7th. Finally, SunTrust Banks set a $93.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a report on Wednesday, March 7th. Seven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $81.95.
In other news, Chairman Michael Balmuth sold 59,777 shares of Ross Stores stock in a transaction on Monday, March 12th. The shares were sold at an average price of $76.53, for a total transaction of $4,574,733.81. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Barbara Rentler sold 32,430 shares of Ross Stores stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $79.53, for a total transaction of $2,579,157.90. Following the transaction, the chief executive officer now directly owns 534,318 shares in the company, valued at $42,494,310.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 256,652 shares of company stock worth $19,829,016. Insiders own 2.30% of the company’s stock.
Shares of NASDAQ ROST opened at $83.43 on Friday. The firm has a market cap of $31.34 billion, a PE ratio of 24.98, a PEG ratio of 2.05 and a beta of 1.06. Ross Stores has a twelve month low of $83.07 and a twelve month high of $84.50. The company has a current ratio of 1.64, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. equities analysts anticipate that Ross Stores will post 4.03 earnings per share for the current fiscal year.
Ross Stores declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the apparel retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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 in the United States. It 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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