Ross Stores, Inc. (ROST) Shares Sold by Kovitz Investment Group Partners LLC
Kovitz Investment Group Partners LLC lowered its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 9.2% during the second quarter, Holdings Channel reports. The institutional investor owned 9,900 shares of the apparel retailer’s stock after selling 1,000 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Ross Stores were worth $572,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in ROST. Retirement Systems of Alabama raised its position in Ross Stores by 1.4% in the first quarter. Retirement Systems of Alabama now owns 190,510 shares of the apparel retailer’s stock valued at $12,549,000 after buying an additional 2,542 shares during the period. Mechanics Bank Trust Department raised its position in Ross Stores by 0.5% in the second quarter. Mechanics Bank Trust Department now owns 65,450 shares of the apparel retailer’s stock valued at $3,778,000 after buying an additional 315 shares during the period. Alpha Windward LLC raised its position in Ross Stores by 0.8% in the first quarter. Alpha Windward LLC now owns 2,974 shares of the apparel retailer’s stock valued at $196,000 after buying an additional 23 shares during the period. Clinton Group Inc. raised its position in Ross Stores by 117.8% in the first quarter. Clinton Group Inc. now owns 148,624 shares of the apparel retailer’s stock valued at $9,790,000 after buying an additional 80,388 shares during the period. Finally, Azimuth Capital Management LLC raised its position in Ross Stores by 3.8% in the first quarter. Azimuth Capital Management LLC now owns 146,935 shares of the apparel retailer’s stock valued at $9,679,000 after buying an additional 5,350 shares during the period. 91.37% of the stock is owned by institutional investors and hedge funds.
Shares of Ross Stores, Inc. (NASDAQ:ROST) opened at 56.04 on Thursday. The firm has a market capitalization of $21.81 billion, a price-to-earnings ratio of 19.20 and a beta of 1.10. The firm has a 50-day moving average of $55.54 and a 200 day moving average of $62.61. Ross Stores, Inc. has a 52 week low of $52.91 and a 52 week high of $69.81.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.27 billion. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 earnings per share. On average, equities analysts predict that Ross Stores, Inc. will post $3.16 earnings per share for the current fiscal year.
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ROST has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Wednesday, July 12th. BMO Capital Markets set a $65.00 price objective on shares of Ross Stores and gave the stock a “hold” rating in a report on Thursday, July 6th. Royal Bank Of Canada set a $67.00 price objective on shares of Ross Stores and gave the stock a “hold” rating in a report on Monday, June 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $63.00 price objective on shares of Ross Stores in a report on Tuesday, May 16th. Finally, Telsey Advisory Group dropped their price objective on shares of Ross Stores from $77.00 to $70.00 and set a “market perform” rating for the company in a report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $69.41.
In other news, Director Sharon D. Garrett sold 16,130 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $63.23, for a total value of $1,019,899.90. Following the completion of the sale, the director now owns 4,967 shares in the company, valued at $314,063.41. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.
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.
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