Principal Financial Group Inc. raised its stake in Ross Stores, Inc. (NASDAQ:ROST) by 5.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,482,963 shares of the apparel retailer’s stock after buying an additional 327,310 shares during the period. Principal Financial Group Inc. owned approximately 1.67% of Ross Stores worth $374,261,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guardian Life Insurance Co. of America boosted its position in 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 valued at $101,000 after buying an additional 10 shares in the last quarter. TrimTabs Asset Management LLC boosted its position in Ross Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock valued at $108,000 after buying an additional 776 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Ross Stores by 3.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock valued at $108,000 after buying an additional 61 shares in the last quarter. Parallel Advisors LLC boosted its position in Ross Stores by 39.1% in the first quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock valued at $111,000 after buying an additional 478 shares in the last quarter. Finally, Welch Group LLC boosted its position in Ross Stores by 35.2% in the second quarter. Welch Group LLC now owns 2,752 shares of the apparel retailer’s stock valued at $159,000 after buying an additional 716 shares in the last quarter. 89.63% of the stock is owned by institutional investors and hedge funds.

Ross Stores, Inc. (NASDAQ:ROST) opened at 58.85 on Wednesday. The stock’s 50 day moving average price is $55.44 and its 200-day moving average price is $61.85. Ross Stores, Inc. has a 52 week low of $52.85 and a 52 week high of $69.81. The stock has a market capitalization of $22.54 billion, a P/E ratio of 19.44 and a beta of 1.10.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same period in the prior year, the business posted $0.71 earnings per share. Ross Stores’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts expect that Ross Stores, Inc. will post $3.23 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 7th will be issued a $0.16 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $0.64 annualized dividend and a yield of 1.09%. Ross Stores’s dividend payout ratio is currently 21.12%.

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ROST has been the subject of several analyst reports. Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Wednesday, July 12th. MKM Partners upped their price objective on Ross Stores from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Instinet reissued a “buy” rating and issued a $74.00 target price on shares of Ross Stores in a research report on Sunday, August 20th. Bank of America Corporation reissued a “buy” rating and issued a $80.00 target price on shares of Ross Stores in a research report on Sunday, August 20th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $75.00 target price on shares of Ross Stores in a research report on Monday, August 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Ross Stores currently has a consensus rating of “Buy” and a consensus target price 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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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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