Flossbach Von Storch AG Has $357.28 Million Position in Ross Stores, Inc. (ROST)
Flossbach Von Storch AG increased its stake in Ross Stores, Inc. (NASDAQ:ROST) by 10.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,533,170 shares of the apparel retailer’s stock after buying an additional 532,900 shares during the period. Ross Stores accounts for about 3.7% of Flossbach Von Storch AG’s portfolio, making the stock its 10th largest position. Flossbach Von Storch AG owned 1.43% of Ross Stores worth $357,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of ROST. Herndon Capital Management LLC raised its position in Ross Stores by 85.6% during the 2nd quarter. Herndon Capital Management LLC now owns 202,917 shares of the apparel retailer’s stock worth $11,715,000 after buying an additional 93,559 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Ross Stores during the third quarter worth approximately $646,000. Hendershot Investments Inc. increased its stake in shares of Ross Stores by 104.8% during the third quarter. Hendershot Investments Inc. now owns 31,927 shares of the apparel retailer’s stock worth $2,062,000 after buying an additional 16,340 shares during the period. Andra AP fonden increased its stake in shares of Ross Stores by 8.5% during the third quarter. Andra AP fonden now owns 105,100 shares of the apparel retailer’s stock worth $6,786,000 after buying an additional 8,200 shares during the period. Finally, PGGM Investments increased its stake in shares of Ross Stores by 47.8% during the third quarter. PGGM Investments now owns 720,055 shares of the apparel retailer’s stock worth $46,494,000 after buying an additional 232,899 shares during the period. 91.16% of the stock is currently owned by institutional investors.
A number of equities analysts recently issued reports on ROST shares. Jefferies Group LLC set a $66.00 price target on Ross Stores and gave the company a “hold” rating in a report on Saturday, November 18th. Cowen Inc set a $78.00 price target on Ross Stores and gave the company a “buy” rating in a report on Saturday, November 18th. Telsey Advisory Group reaffirmed a “buy” rating on shares of Ross Stores in a report on Friday, November 17th. SunTrust Banks, Inc. set a $80.00 price target on Ross Stores and gave the company a “buy” rating in a report on Friday, November 17th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $70.00 price target (up from $62.00) on shares of Ross Stores in a report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $73.71.
In other Ross Stores news, insider Brian R. Morrow sold 6,157 shares of Ross Stores stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total transaction of $402,052.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Barbara Rentler sold 15,492 shares of Ross Stores stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total value of $945,012.00. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
Ross Stores, Inc. (NASDAQ:ROST) opened at $72.30 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 0.68. The firm has a market capitalization of $27,878.31, a price-to-earnings ratio of 23.10, a PEG ratio of 2.20 and a beta of 1.10. Ross Stores, Inc. has a 52-week low of $52.85 and a 52-week high of $73.94.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.05. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.26 billion. Ross Stores had a return on equity of 43.21% and a net margin of 8.93%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. sell-side analysts forecast that Ross Stores, Inc. will post 3.28 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.89%. Ross Stores’s payout ratio is currently 20.45%.
About Ross Stores
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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