Verity & Verity LLC bought a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) during the second quarter, HoldingsChannel.com reports. The fund bought 2,285 shares of the apparel retailer’s stock, valued at approximately $226,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CI Investments Inc. bought a new position in shares of Ross Stores during the fourth quarter valued at approximately $26,000. First Manhattan Co. bought a new position in Ross Stores in the first quarter worth approximately $27,000. Omnia Family Wealth LLC grew its stake in Ross Stores by 1,387.5% in the fourth quarter. Omnia Family Wealth LLC now owns 476 shares of the apparel retailer’s stock worth $40,000 after purchasing an additional 444 shares in the last quarter. Berman Capital Advisors LLC grew its stake in Ross Stores by 32.2% in the first quarter. Berman Capital Advisors LLC now owns 522 shares of the apparel retailer’s stock worth $48,000 after purchasing an additional 127 shares in the last quarter. Finally, Thor Advisors LLC bought a new position in Ross Stores in the first quarter worth approximately $54,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.
In other Ross Stores news, Chairman Michael Balmuth sold 81,049 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $92.87, for a total transaction of $7,527,020.63. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Barbara Rentler sold 40,000 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $99.16, for a total value of $3,966,400.00. Following the sale, the chief executive officer now directly owns 473,922 shares in the company, valued at approximately $46,994,105.52. The disclosure for this sale can be found here. Insiders have sold a total of 296,287 shares of company stock worth $29,806,735 in the last ninety days. Insiders own 2.30% of the company’s stock.
NASDAQ ROST traded up $1.10 during midday trading on Friday, hitting $106.62. 56,896 shares of the company traded hands, compared to its average volume of 2,306,447. The company has a current ratio of 1.34, a quick ratio of 0.64 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $38.48 billion, a P/E ratio of 25.05, a PEG ratio of 2.26 and a beta of 0.90. The firm has a 50-day simple moving average of $102.45. Ross Stores, Inc. has a 52 week low of $75.91 and a 52 week high of $108.20.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.01. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Ross Stores had a return on equity of 48.92% and a net margin of 10.47%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.11 EPS. As a group, research analysts anticipate that Ross Stores, Inc. will post 4.51 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.02 annualized dividend and a yield of 0.96%. Ross Stores’s dividend payout ratio (DPR) is presently 23.94%.
ROST has been the topic of several research analyst reports. Telsey Advisory Group cut Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 price objective on the stock. in a research note on Monday, June 24th. Robert W. Baird initiated coverage on TJX Companies in a research note on Monday, May 13th. They issued an “outperform” rating and a $63.00 price objective on the stock. BidaskClub cut Zai Lab from a “strong-buy” rating to a “buy” rating in a research note on Friday. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of Foot Locker in a research note on Friday, May 24th. Finally, Zacks Investment Research raised Gerdau from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. Ross Stores presently has an average rating of “Buy” and an average price target of $98.64.
Ross Stores Profile
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. Its stores 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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