Ross Stores, Inc. (NASDAQ:ROST) Position Decreased by CrestPoint Capital Management LLC
CrestPoint Capital Management LLC decreased its position in Ross Stores, Inc. (NASDAQ:ROST) by 17.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,800 shares of the apparel retailer’s stock after selling 2,300 shares during the period. CrestPoint Capital Management LLC’s holdings in Ross Stores were worth $623,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of ROST. BlackRock Inc. increased its stake in shares of Ross Stores by 1,908.5% in the first quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock valued at $1,742,545,000 after buying an additional 25,137,186 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Ross Stores by 3.5% in the first quarter. Vanguard Group Inc. now owns 35,460,595 shares of the apparel retailer’s stock worth $2,335,790,000 after buying an additional 1,208,861 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Ross Stores during the first quarter worth approximately $79,225,000. Marshall Wace North America L.P. purchased a new stake in shares of Ross Stores during the first quarter worth approximately $79,225,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Ross Stores by 29.2% in the first quarter. Ameriprise Financial Inc. now owns 5,151,764 shares of the apparel retailer’s stock worth $339,347,000 after buying an additional 1,165,463 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.
Ross Stores, Inc. (ROST) opened at 54.33 on Wednesday. Ross Stores, Inc. has a 12 month low of $53.89 and a 12 month high of $69.81. The firm has a market capitalization of $21.14 billion, a PE ratio of 18.61 and a beta of 1.12. The firm’s 50-day moving average is $58.70 and its 200-day moving average is $63.86.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. The firm had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.27 billion. Ross Stores had a return on equity of 42.56% and a net margin of 8.77%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.73 earnings per share. On average, equities research analysts expect that Ross Stores, Inc. will post $3.16 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Tuesday, June 6th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.18%. Ross Stores’s payout ratio is currently 21.92%.
A number of analysts recently weighed in on the stock. Royal Bank Of Canada set a $70.00 price target on shares of Ross Stores and gave the stock a “hold” rating in a research note on Monday, May 15th. Telsey Advisory Group upgraded shares of Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research note on Friday, July 14th. They noted that the move was a valuation call. BMO Capital Markets set a $65.00 price target on shares of Ross Stores and gave the stock a “hold” rating in a research note on Thursday, July 6th. Jefferies Group LLC restated a “hold” rating and issued a $63.00 target price on shares of Ross Stores in a research note on Tuesday, May 16th. Finally, BidaskClub cut shares of Ross Stores from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $69.23.
In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the completion of the sale, the director now owns 4,967 shares of the company’s stock, valued at $314,063.41. 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 owned by corporate insiders.
Ross Stores Company 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.
Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST).
Receive News & Ratings for Ross Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.