Mirador Capital Partners LP Acquires Shares of 4,109 Ross Stores, Inc. (ROST)
Mirador Capital Partners LP acquired a new position in Ross Stores, Inc. (NASDAQ:ROST) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,109 shares of the apparel retailer’s stock, valued at approximately $230,000.
Several other hedge funds and other institutional investors have also modified their holdings of ROST. Guardian Life Insurance Co. of America raised its position in shares of 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 worth $101,000 after buying an additional 10 shares during the period. TrimTabs Asset Management LLC raised its position in shares of Ross Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock worth $108,000 after buying an additional 776 shares during the period. Parallel Advisors LLC raised its position in shares of Ross Stores by 39.1% in the first quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock worth $111,000 after buying an additional 478 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Ross Stores by 3.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock worth $108,000 after buying an additional 61 shares during the period. Finally, Advisory Services Network LLC bought a new position in shares of Ross Stores during the first quarter worth $171,000. 89.63% of the stock is owned by institutional investors and hedge funds.
Shares of Ross Stores, Inc. (ROST) opened at 59.02 on Tuesday. The stock has a 50 day moving average of $55.44 and a 200-day moving average of $61.85. Ross Stores, Inc. has a 52 week low of $52.85 and a 52 week high of $69.81. The firm has a market capitalization of $22.61 billion, a price-to-earnings ratio of 19.49 and a beta of 1.10.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.05. Ross Stores had a return on equity of 42.95% and a net margin of 8.87%. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. Analysts expect that Ross Stores, Inc. will post $3.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 7th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Wednesday, September 6th. Ross Stores’s dividend payout ratio is currently 21.12%.
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ROST has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Wednesday, July 12th. MKM Partners lifted their target price on shares of Ross Stores from $77.00 to $78.00 and gave the company a “buy” rating in a report on Friday, August 18th. Instinet restated a “buy” rating and set a $74.00 target price on shares of Ross Stores in a report on Sunday, August 20th. Bank of America Corporation restated a “buy” rating and set a $80.00 target price on shares of Ross Stores in a report on Sunday, August 20th. Finally, Deutsche Bank AG restated a “buy” rating and set a $75.00 target price on shares of Ross Stores in a report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $69.28.
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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