Sanders Morris Harris Inc. raised its position in shares of Ross Stores Inc. (NASDAQ:ROST) by 85.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,500 shares of the apparel retailer’s stock after buying an additional 3,000 shares during the period. Sanders Morris Harris Inc.’s holdings in Ross Stores were worth $368,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Carroll Financial Associates Inc. increased its position 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 valued at $147,000 after buying an additional 17 shares during the period. Somerset Trust Co increased its position in shares of Ross Stores by 0.3% in the second quarter. Somerset Trust Co now owns 26,075 shares of the apparel retailer’s stock valued at $1,478,000 after buying an additional 78 shares during the period. Torch Wealth Management LLC increased its position in shares of Ross Stores by 0.3% in the second quarter. Torch Wealth Management LLC now owns 35,630 shares of the apparel retailer’s stock valued at $2,020,000 after buying an additional 100 shares during the period. LS Investment Advisors LLC increased its position in shares of Ross Stores by 1.5% in the second quarter. LS Investment Advisors LLC now owns 11,150 shares of the apparel retailer’s stock valued at $632,000 after buying an additional 161 shares during the period. Finally, Cim LLC increased its position in shares of Ross Stores by 1.5% in the second quarter. Cim LLC now owns 12,543 shares of the apparel retailer’s stock valued at $711,000 after buying an additional 190 shares during the period. Institutional investors and hedge funds own 89.63% of the company’s stock.

Shares of Ross Stores Inc. (NASDAQ:ROST) traded down 0.03% during trading on Friday, hitting $61.93. 2,934,647 shares of the stock were exchanged. The firm has a 50 day moving average price of $62.32 and a 200 day moving average price of $57.93. The firm has a market capitalization of $24.56 billion, a P/E ratio of 23.57 and a beta of 0.84. Ross Stores Inc. has a 52 week low of $43.47 and a 52 week high of $66.28.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.04. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.13 billion. Ross Stores had a net margin of 8.55% and a return on equity of 42.01%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 earnings per share. Analysts forecast that Ross Stores Inc. will post $2.75 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Wednesday, August 31st. Ross Stores’s dividend payout ratio is 20.53%.

Several research analysts recently commented on the stock. Credit Suisse Group AG reiterated a “hold” rating on shares of Ross Stores in a report on Sunday, May 22nd. Deutsche Bank AG reiterated a “buy” rating on shares of Ross Stores in a report on Sunday, May 22nd. Bank of America Corp. restated a “buy” rating on shares of Ross Stores in a report on Sunday, May 22nd. Cowen and Company restated a “buy” rating on shares of Ross Stores in a report on Sunday, May 22nd. Finally, Jefferies Group restated a “hold” rating on shares of Ross Stores in a report on Sunday, May 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company’s stock. Ross Stores has an average rating of “Buy” and a consensus price target of $65.09.

In related news, Director George Orban sold 56,000 shares of the firm’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $57.52, for a total transaction of $3,221,120.00. Following 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 hyperlink. Corporate insiders own 2.40% of the company’s stock.

Ross Stores Company Profile

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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