Ross Stores, Inc. (ROST) Stake Maintained by Palisade Asset Management LLC
Palisade Asset Management LLC held its position in Ross Stores, Inc. (NASDAQ:ROST) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 27,280 shares of the apparel retailer’s stock at the end of the second quarter. Palisade Asset Management LLC’s holdings in Ross Stores were worth $1,575,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America raised 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 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. First Heartland Consultants Inc. raised its position in Ross Stores by 0.6% in the second quarter. First Heartland Consultants Inc. now owns 6,136 shares of the apparel retailer’s stock valued at $354,000 after buying an additional 34 shares during the period. Cullen Frost Bankers Inc. raised its position in Ross Stores by 0.8% in the first quarter. Cullen Frost Bankers Inc. now owns 5,141 shares of the apparel retailer’s stock valued at $339,000 after buying an additional 41 shares during the period. Finally, Parkside Financial Bank & Trust raised 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 during the period. 91.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ross Stores, Inc. (NASDAQ:ROST) opened at 56.04 on Thursday. Ross Stores, Inc. has a one year low of $52.91 and a one year high of $69.81. The stock has a 50 day moving average price of $55.54 and a 200-day moving average price of $62.61. The company has a market capitalization of $21.81 billion, a P/E ratio of 19.20 and a beta of 1.10.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. Ross Stores had a return on equity of 42.56% and a net margin of 8.77%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the company earned $0.73 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts predict that Ross Stores, Inc. will post $3.16 earnings per share for the current fiscal year.
ROST has been the topic of several recent research reports. BidaskClub lowered Ross Stores from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 17th. Royal Bank Of Canada set a $67.00 price target on Ross Stores and gave the stock a “hold” rating in a research report on Monday, June 19th. Morgan Stanley reissued an “overweight” rating and set a $69.00 price target on shares of Ross Stores in a research report on Monday, May 22nd. Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Wednesday, July 12th. Finally, BMO Capital Markets set a $65.00 price target on Ross Stores and gave the stock a “hold” rating in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $69.41.
In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of the firm’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 value of $1,019,899.90. Following the completion of the sale, the director now owns 4,967 shares in the company, valued at approximately $314,063.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.
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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