Royal Bank of Canada Has $95.85 Million Holdings in Ross Stores, Inc. (ROST)
Royal Bank of Canada raised its position in Ross Stores, Inc. (NASDAQ:ROST) by 15.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,660,316 shares of the apparel retailer’s stock after acquiring an additional 220,855 shares during the quarter. Royal Bank of Canada owned approximately 0.43% of Ross Stores worth $95,848,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in ROST. Vanguard Group Inc. grew its position in shares of Ross Stores by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 36,146,781 shares of the apparel retailer’s stock valued at $2,086,753,000 after acquiring an additional 686,186 shares during the period. BlackRock Inc. raised its holdings in shares of Ross Stores by 1,908.5% in the 1st quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock valued at $1,742,545,000 after purchasing an additional 25,137,186 shares during the period. State Street Corp raised its holdings in shares of Ross Stores by 1.0% in the 1st quarter. State Street Corp now owns 17,886,365 shares of the apparel retailer’s stock valued at $1,178,183,000 after purchasing an additional 173,336 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Ross Stores by 1.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,295,824 shares of the apparel retailer’s stock valued at $612,317,000 after purchasing an additional 146,423 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Ross Stores by 5.3% in the 2nd quarter. Principal Financial Group Inc. now owns 6,482,963 shares of the apparel retailer’s stock valued at $374,261,000 after purchasing an additional 327,310 shares during the period. Hedge funds and other institutional investors own 90.40% of the company’s stock.
Shares of Ross Stores, Inc. (NASDAQ ROST) traded up 0.02% during midday trading on Tuesday, hitting $64.70. The company had a trading volume of 311,868 shares. The company has a market capitalization of $24.95 billion, a price-to-earnings ratio of 21.37 and a beta of 1.13. The company’s 50-day moving average price is $59.73 and its 200 day moving average price is $60.50. Ross Stores, Inc. has a 12-month low of $52.85 and a 12-month high of $69.81.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.37 billion. Ross Stores had a return on equity of 42.95% and a net margin of 8.87%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 EPS. Equities research analysts predict that Ross Stores, Inc. will post $3.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Thursday, September 7th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.99%. The ex-dividend date was Wednesday, September 6th. Ross Stores’s dividend payout ratio (DPR) is currently 21.12%.
Several brokerages recently issued reports on ROST. Jefferies Group LLC reiterated a “hold” rating and issued a $63.00 target price on shares of Ross Stores in a research note on Tuesday, September 12th. Royal Bank Of Canada set a $67.00 price target on Ross Stores and gave the stock a “hold” rating in a report on Monday, June 19th. MKM Partners boosted their price target on Ross Stores from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. 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, J P Morgan Chase & Co upgraded Ross Stores from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $65.00 to $74.00 in a research note on Monday, September 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $70.17.
In related news, CEO Barbara Rentler sold 15,492 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total value of $945,012.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.30% of the company’s stock.
Ross Stores 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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