Shell Asset Management Co. Acquires 415 Shares of Ross Stores, Inc. (ROST)
Shell Asset Management Co. boosted its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 0.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,946 shares of the apparel retailer’s stock after purchasing an additional 415 shares during the quarter. Shell Asset Management Co.’s holdings in Ross Stores were worth $5,395,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley boosted its stake in Ross Stores by 69.0% during the 3rd quarter. Morgan Stanley now owns 2,201,584 shares of the apparel retailer’s stock valued at $218,178,000 after purchasing an additional 898,614 shares during the last quarter. Calamos Advisors LLC lifted its position in shares of Ross Stores by 17.6% during the 4th quarter. Calamos Advisors LLC now owns 83,136 shares of the apparel retailer’s stock worth $6,917,000 after buying an additional 12,447 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Ross Stores by 5.3% during the 4th quarter. Fisher Asset Management LLC now owns 112,571 shares of the apparel retailer’s stock worth $9,366,000 after buying an additional 5,627 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of Ross Stores by 1.4% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 27,651 shares of the apparel retailer’s stock worth $2,300,000 after buying an additional 371 shares in the last quarter. Finally, Private Capital Group LLC lifted its position in shares of Ross Stores by 26.3% during the 4th quarter. Private Capital Group LLC now owns 1,053 shares of the apparel retailer’s stock worth $88,000 after buying an additional 219 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.
Several equities analysts have commented on the stock. BidaskClub raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research raised shares of Ross Stores from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Guggenheim reissued a “buy” rating and set a $105.00 target price on shares of Ross Stores in a report on Friday. Robert W. Baird assumed coverage on shares of Ross Stores in a research report on Monday, May 13th. They set an “outperform” rating and a $108.00 price target for the company. Finally, Credit Suisse Group boosted their price target on shares of Ross Stores from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Ross Stores has a consensus rating of “Buy” and a consensus price target of $97.84.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.01. Ross Stores had a net margin of 10.60% and a return on equity of 49.58%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the firm earned $1.11 earnings per share. Ross Stores’s revenue was up 5.8% on a year-over-year basis. On average, equities analysts anticipate that Ross Stores, Inc. will post 4.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Monday, June 10th. Ross Stores’s payout ratio is currently 23.94%.
Ross Stores announced that its Board of Directors has authorized a share buyback program on Tuesday, March 5th that allows the company to repurchase $2.55 billion in outstanding shares. This repurchase authorization allows the apparel retailer to buy up to 7.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.
In other Ross Stores news, insider James S. Fassio sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $91.51, for a total value of $4,575,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bernard G. Brautigan sold 19,384 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $93.56, for a total transaction of $1,813,567.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,054 shares of company stock valued at $12,504,328. 2.30% of the stock is owned by insiders.
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Ross Stores Company Profile
Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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