Ross Stores, Inc. (ROST) Shares Sold by Marshfield Associates
Marshfield Associates decreased its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 766,572 shares of the apparel retailer’s stock after selling 6,905 shares during the quarter. Ross Stores makes up about 3.3% of Marshfield Associates’ investment portfolio, making the stock its 17th largest position. Marshfield Associates owned approximately 0.20% of Ross Stores worth $49,498,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Balentine LLC raised its position in Ross Stores by 0.3% in the 2nd quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock valued at $102,000 after purchasing an additional 5 shares during the last quarter. Alps Advisors Inc. raised its position in shares of Ross Stores by 0.3% during the second quarter. Alps Advisors Inc. now owns 7,118 shares of the apparel retailer’s stock worth $411,000 after acquiring an additional 19 shares during the last quarter. New Amsterdam Partners LLC NY raised its position in shares of Ross Stores by 0.8% during the second quarter. New Amsterdam Partners LLC NY now owns 8,375 shares of the apparel retailer’s stock worth $483,000 after acquiring an additional 64 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its position in shares of Ross Stores by 2.2% during the second quarter. Canandaigua National Bank & Trust Co. now owns 3,497 shares of the apparel retailer’s stock worth $202,000 after acquiring an additional 76 shares during the last quarter. Finally, People s United Financial Inc. raised its position in shares of Ross Stores by 1.3% during the second quarter. People s United Financial Inc. now owns 12,306 shares of the apparel retailer’s stock worth $710,000 after acquiring an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.
In other news, insider Brian R. Morrow sold 6,157 shares of the company’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total transaction of $402,052.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by corporate insiders.
ROST has been the subject of a number of recent research reports. Instinet restated a “buy” rating and set a $74.00 target price on shares of Ross Stores in a research report on Sunday, August 20th. Morgan Stanley boosted their target price on Ross Stores from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Zacks Investment Research downgraded Ross Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Telsey Advisory Group boosted their target price on Ross Stores from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, November 17th. Finally, Deutsche Bank restated a “buy” rating and set a $75.00 target price on shares of Ross Stores in a research report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $73.71.
Ross Stores, Inc. (NASDAQ ROST) opened at $76.76 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $29,600.00, a PE ratio of 24.57, a price-to-earnings-growth ratio of 2.34 and a beta of 1.15. Ross Stores, Inc. has a 52 week low of $52.85 and a 52 week high of $78.81.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.05. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Ross Stores had a return on equity of 43.21% and a net margin of 8.93%. Ross Stores’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. equities research analysts predict that Ross Stores, Inc. will post 3.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.83%. Ross Stores’s dividend payout ratio is currently 20.45%.
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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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