Court Place Advisors LLC Has $2,540,000 Stake in Ross Stores Inc. (ROST)
Court Place Advisors LLC increased its stake in Ross Stores Inc. (NASDAQ:ROST) by 12.7% during the second quarter, Holdings Channel reports. The institutional investor owned 44,810 shares of the apparel retailer’s stock after buying an additional 5,053 shares during the period. Ross Stores makes up 1.5% of Court Place Advisors LLC’s portfolio, making the stock its 19th largest position. Court Place Advisors LLC’s holdings in Ross Stores were worth $2,540,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ROST. NN Investment Partners Holdings N.V. bought a new position in shares of Ross Stores during the first quarter valued at about $140,000. Carroll Financial Associates Inc. increased its stake 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 worth $147,000 after buying an additional 17 shares during the last quarter. Independent Portfolio Consultants Inc. acquired a new stake in shares of Ross Stores during the second quarter worth $151,000. Citizens Financial Group Inc RI increased its stake 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 worth $159,000 after buying an additional 931 shares during the last quarter. Finally, Springbok Capital Management LLC acquired a new stake in shares of Ross Stores during the first quarter worth $160,000. 89.63% of the stock is owned by institutional investors and hedge funds.
Ross Stores Inc. (NASDAQ:ROST) traded up 0.97% during midday trading on Monday, hitting $62.53. 2,338,934 shares of the company were exchanged. Ross Stores Inc. has a 1-year low of $43.47 and a 1-year high of $66.28. The stock has a market capitalization of $24.80 billion, a price-to-earnings ratio of 23.80 and a beta of 0.84. The stock has a 50 day moving average of $62.36 and a 200-day moving average of $58.09.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.04. Ross Stores had a net margin of 8.55% and a return on equity of 42.01%. The company earned $3.18 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. Ross Stores’s revenue was up 7.2% on a year-over-year basis. Equities analysts expect that Ross Stores Inc. will post $2.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Wednesday, August 31st. Ross Stores’s payout ratio is currently 20.53%.
A number of analysts have weighed in on ROST shares. Bank of America Corp. set a $70.00 price target on Ross Stores and gave the stock a “buy” rating in a report on Monday, September 12th. Wedbush increased their price target on Ross Stores from $65.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, August 19th. Citigroup Inc. increased their price target on Ross Stores from $65.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, August 19th. Royal Bank Of Canada increased their price target on Ross Stores from $56.00 to $65.00 and gave the stock a “sector perform” rating in a report on Friday, August 19th. Finally, Buckingham Research upgraded Ross Stores from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $65.09.
In related news, Director George Orban sold 56,000 shares of the stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $57.52, for a total value of $3,221,120.00. Following the completion of the transaction, the director now directly owns 506,750 shares of the company’s stock, valued at $29,148,260. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by corporate insiders.
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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