NTV Asset Management LLC Buys New Stake in Ross Stores, Inc. (ROST)
NTV Asset Management LLC bought a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,316 shares of the apparel retailer’s stock, valued at approximately $214,000.
Other large investors also recently added to or reduced their stakes in the company. Balentine LLC grew its position in Ross Stores by 0.3% during the 2nd quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock worth $102,000 after purchasing an additional 5 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Ross Stores by 3.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock valued at $108,000 after acquiring an additional 61 shares during the period. Acrospire Investment Management LLC lifted its stake in Ross Stores by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock valued at $115,000 after acquiring an additional 1,000 shares during the period. Welch Group LLC lifted its stake in Ross Stores by 35.2% during the 2nd quarter. Welch Group LLC now owns 2,752 shares of the apparel retailer’s stock valued at $159,000 after acquiring an additional 716 shares during the period. Finally, Sun Life Financial INC lifted its stake in Ross Stores by 20,314.3% during the 2nd quarter. Sun Life Financial INC now owns 2,858 shares of the apparel retailer’s stock valued at $165,000 after acquiring an additional 2,844 shares during the period. 90.51% of the stock is currently owned by institutional investors.
In related news, CEO Barbara Rentler sold 15,492 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total value of $945,012.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian R. Morrow sold 6,157 shares of the company’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total transaction of $402,052.10. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
Several brokerages have commented on ROST. Royal Bank Of Canada restated a “hold” rating and set a $62.00 price objective on shares of Ross Stores in a research note on Monday, September 18th. Wolfe Research decreased their price objective on shares of Ross Stores from $76.00 to $73.00 and set an “outperform” rating for the company in a research note on Friday, August 18th. Zacks Investment Research cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BMO Capital Markets set a $65.00 price objective on shares of Ross Stores and gave the company a “hold” rating in a research note on Tuesday, August 8th. Finally, Bank of America Corporation restated a “buy” rating and set a $80.00 price objective on shares of Ross Stores in a research note on Sunday, August 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. Ross Stores has a consensus rating of “Buy” and an average price target of $70.21.
Ross Stores, Inc. (ROST) traded down $0.85 during trading on Tuesday, hitting $64.91. 2,613,000 shares of the stock were exchanged, compared to its average volume of 2,920,083. Ross Stores, Inc. has a fifty-two week low of $52.85 and a fifty-two week high of $69.81. The stock has a market capitalization of $25,356.54, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 2.04 and a beta of 1.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.64 and a quick ratio of 0.76.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Ross Stores’s quarterly revenue was up 7.9% on a year-over-year basis. equities analysts expect that Ross Stores, Inc. will post 3.22 EPS for the current fiscal year.
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Ross Stores 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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