Daiwa Securities Group Inc. Sells 25,400 Shares of Ross Stores, Inc. (NASDAQ:ROST)
Daiwa Securities Group Inc. lowered its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 59.6% during the second quarter, Holdings Channel reports. The fund owned 17,250 shares of the apparel retailer’s stock after selling 25,400 shares during the period. Daiwa Securities Group Inc.’s holdings in Ross Stores were worth $996,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in ROST. Guardian Life Insurance Co. of America raised its stake in Ross Stores by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock valued at $101,000 after buying an additional 10 shares during the last quarter. TrimTabs Asset Management LLC raised its stake in Ross Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock valued at $108,000 after buying an additional 776 shares during the last quarter. Nikko Asset Management Americas Inc. acquired a new stake in Ross Stores during the first quarter valued at $112,000. Parallel Advisors LLC raised its stake in Ross Stores by 39.1% in the first quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock valued at $111,000 after buying an additional 478 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Ross Stores by 3.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock valued at $108,000 after buying an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 91.37% of the company’s stock.
Shares of Ross Stores, Inc. (ROST) opened at 54.80 on Friday. Ross Stores, Inc. has a 12-month low of $52.91 and a 12-month high of $69.81. The firm has a market cap of $21.33 billion, a P/E ratio of 18.77 and a beta of 1.10. The company has a 50-day moving average of $55.48 and a 200 day moving average of $62.55.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Ross Stores had a return on equity of 42.56% and a net margin of 8.77%. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the company posted $0.73 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities analysts predict that Ross Stores, Inc. will post $3.16 EPS for the current year.
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Several equities analysts have recently commented on the stock. BMO Capital Markets set a $65.00 price target on shares of Ross Stores and gave the stock a “hold” rating in a research report on Tuesday. BidaskClub upgraded shares of Ross Stores from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday. Credit Suisse Group restated a “neutral” rating and set a $64.00 price target (down previously from $70.00) on shares of Ross Stores in a research report on Wednesday, August 2nd. Finally, William Blair restated an “outperform” rating on shares of Ross Stores in a research report on Monday, May 22nd. One equities research 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. The company currently has a consensus rating of “Hold” and a consensus price target of $69.41.
In other news, Director Sharon D. Garrett sold 16,130 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $63.23, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through this link. 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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