Bank of New York Mellon Corp boosted its position in Ross Stores, Inc. (NASDAQ:ROST) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 5,179,798 shares of the apparel retailer’s stock after buying an additional 52,437 shares during the period. Bank of New York Mellon Corp’s holdings in Ross Stores were worth $299,030,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Creative Planning increased its stake in Ross Stores by 6.4% in the first quarter. Creative Planning now owns 13,856 shares of the apparel retailer’s stock valued at $913,000 after buying an additional 832 shares during the period. DnB Asset Management AS boosted its position in shares of Ross Stores by 16.0% in the first quarter. DnB Asset Management AS now owns 48,580 shares of the apparel retailer’s stock valued at $3,200,000 after buying an additional 6,700 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Ross Stores by 11.3% in the first quarter. Nisa Investment Advisors LLC now owns 172,524 shares of the apparel retailer’s stock valued at $11,364,000 after buying an additional 17,454 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of Ross Stores during the first quarter valued at approximately $997,000. Finally, Sanders Morris Harris Inc. boosted its position in shares of Ross Stores by 27.4% in the first quarter. Sanders Morris Harris Inc. now owns 9,300 shares of the apparel retailer’s stock valued at $613,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 90.20% of the company’s stock.
Ross Stores, Inc. (NASDAQ ROST) opened at 53.33 on Friday. The company’s 50 day moving average is $55.13 and its 200 day moving average is $62.15. Ross Stores, Inc. has a 52 week low of $52.85 and a 52 week high of $69.81. The stock has a market cap of $20.76 billion, a P/E ratio of 18.27 and a beta of 1.10. Ross Stores also saw unusually large options trading activity on Tuesday. Investors bought 12,143 call options on the stock. This represents an increase of 1,039% compared to the average daily volume of 1,066 call options.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 17th. The apparel retailer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same period last year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts predict that Ross Stores, Inc. will post $3.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 7th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, September 6th. Ross Stores’s dividend payout ratio is currently 21.92%.
Several brokerages have commented on ROST. Zacks Investment Research cut shares of Ross Stores from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Royal Bank Of Canada set a $70.00 price target on shares of Ross Stores and gave the company a “hold” rating in a research report on Monday, May 15th. Jefferies Group LLC reissued a “hold” rating and issued a $63.00 price target on shares of Ross Stores in a research report on Tuesday, May 16th. William Blair reissued an “outperform” rating on shares of Ross Stores in a research report on Monday, May 22nd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $69.00 price target on shares of Ross Stores in a research report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company. Ross Stores currently has an average rating of “Hold” and an average target price of $69.41.
In related news, Director Sharon D. Garrett sold 16,130 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the completion of the sale, the director now directly owns 4,967 shares in the company, valued at $314,063.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.30% of the company’s stock.
Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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