PNC Financial Services Group Inc. Has $40.14 Million Position in Ross Stores, Inc. (ROST)
PNC Financial Services Group Inc. lowered its stake in Ross Stores, Inc. (NASDAQ:ROST) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 695,343 shares of the apparel retailer’s stock after selling 15,550 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.18% of Ross Stores worth $40,143,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Ross Stores by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 35,460,595 shares of the apparel retailer’s stock worth $2,335,790,000 after purchasing an additional 1,208,861 shares in the last quarter. BlackRock Inc. increased its stake in Ross Stores by 1,908.5% in the 1st quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock worth $1,742,545,000 after purchasing an additional 25,137,186 shares in the last quarter. State Street Corp increased its stake in Ross Stores by 1.0% in the 1st quarter. State Street Corp now owns 17,886,365 shares of the apparel retailer’s stock worth $1,178,183,000 after purchasing an additional 173,336 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Ross Stores by 1.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,295,824 shares of the apparel retailer’s stock worth $612,317,000 after purchasing an additional 146,423 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Ross Stores by 5.3% in the 2nd quarter. Principal Financial Group Inc. now owns 6,482,963 shares of the apparel retailer’s stock worth $374,261,000 after purchasing an additional 327,310 shares in the last quarter. 90.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on ROST. Jefferies Group LLC reissued a “hold” rating and issued a $63.00 price target on shares of Ross Stores in a research note on Tuesday, September 12th. Royal Bank Of Canada set a $67.00 target price on Ross Stores and gave the company a “hold” rating in a research note on Monday, June 19th. MKM Partners lifted their target price on Ross Stores from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Wednesday, July 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Ross Stores in a research note on Monday, May 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $70.00.
Shares of Ross Stores, Inc. (ROST) traded up 0.13% on Monday, hitting $60.79. The stock had a trading volume of 113,212 shares. The company has a market cap of $23.28 billion, a PE ratio of 20.08 and a beta of 1.09. Ross Stores, Inc. has a 52 week low of $52.85 and a 52 week high of $69.81. The stock’s 50-day moving average price is $57.43 and its 200 day moving average price is $60.95.
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 Zacks’ 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 analysts’ expectations of $3.37 billion. During the same period last year, the firm posted $0.71 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. On average, analysts predict that Ross Stores, Inc. will post $3.23 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 7th will be given a $0.16 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. Ross Stores’s payout ratio is 21.12%.
In other news, CEO Barbara Rentler sold 15,492 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.30% of the company’s stock.
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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