Northern Trust Corp Acquires 109,300 Shares of Ross Stores, Inc. (ROST)
Northern Trust Corp lifted its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 2.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,645,785 shares of the apparel retailer’s stock after acquiring an additional 109,300 shares during the quarter. Northern Trust Corp owned 1.24% of Ross Stores worth $393,730,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Federated Investors Inc. PA raised its holdings in Ross Stores by 1,113.8% during the 1st quarter. Federated Investors Inc. PA now owns 83,943 shares of the apparel retailer’s stock valued at $6,546,000 after buying an additional 77,027 shares during the last quarter. Toronto Dominion Bank raised its holdings in Ross Stores by 23.6% during the 1st quarter. Toronto Dominion Bank now owns 209,233 shares of the apparel retailer’s stock valued at $16,313,000 after buying an additional 39,926 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in Ross Stores by 10.6% during the 1st quarter. Stratos Wealth Partners LTD. now owns 7,543 shares of the apparel retailer’s stock valued at $588,000 after buying an additional 723 shares during the last quarter. Lucia Wealth Services LLC bought a new stake in Ross Stores during the 1st quarter valued at $112,000. Finally, Franklin Resources Inc. raised its holdings in Ross Stores by 0.4% during the 1st quarter. Franklin Resources Inc. now owns 6,023,816 shares of the apparel retailer’s stock valued at $469,737,000 after buying an additional 24,217 shares during the last quarter. Hedge funds and other institutional investors own 87.46% of the company’s stock.
A number of equities research analysts recently commented on ROST shares. Cowen set a $101.00 price target on shares of Ross Stores and gave the company a “buy” rating in a report on Monday, July 30th. Buckingham Research upped their price target on shares of Ross Stores from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, August 20th. Goldman Sachs Group started coverage on shares of Ross Stores in a report on Monday, September 3rd. They set a “neutral” rating and a $104.00 price target for the company. JPMorgan Chase & Co. lowered their price target on shares of Ross Stores from $98.00 to $96.00 and set an “overweight” rating for the company in a report on Friday, August 24th. Finally, Royal Bank of Canada upped their price target on shares of Ross Stores to $92.00 and gave the company a “sector perform” rating in a report on Friday, August 24th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $95.17.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 23rd. The apparel retailer reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.03. Ross Stores had a net margin of 10.41% and a return on equity of 47.56%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the business earned $0.82 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. equities research analysts expect that Ross Stores, Inc. will post 4.1 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 13th will be issued a $0.225 dividend. The ex-dividend date is Wednesday, September 12th. This represents a $0.90 annualized dividend and a yield of 0.92%. Ross Stores’s dividend payout ratio (DPR) is presently 26.95%.
In other Ross Stores news, Director Norman A. Ferber sold 10,144 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $94.90, for a total value of $962,665.60. Following the completion of the transaction, the director now directly owns 25,127 shares in the company, valued at approximately $2,384,552.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by corporate insiders.
Ross Stores Profile
Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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