Signet Financial Management LLC Has $5.62 Million Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)
Signet Financial Management LLC decreased its position in Ross Stores, Inc. (NASDAQ:ROST) by 11.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,591 shares of the apparel retailer’s stock after selling 6,647 shares during the period. Ross Stores accounts for 1.1% of Signet Financial Management LLC’s portfolio, making the stock its 21st largest position. Signet Financial Management LLC’s holdings in Ross Stores were worth $5,618,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in Ross Stores by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 6,088,490 shares of the apparel retailer’s stock valued at $505,856,000 after buying an additional 456,445 shares during the period. Northern Trust Corp raised its position in shares of Ross Stores by 0.4% in the 2nd quarter. Northern Trust Corp now owns 4,848,687 shares of the apparel retailer’s stock valued at $480,602,000 after acquiring an additional 20,027 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Ross Stores by 1.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,668,312 shares of the apparel retailer’s stock worth $165,364,000 after acquiring an additional 17,100 shares during the last quarter. Third Point LLC boosted its stake in Ross Stores by 3.1% during the 2nd quarter. Third Point LLC now owns 1,650,000 shares of the apparel retailer’s stock worth $163,548,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Ross Stores by 1.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,605,099 shares of the apparel retailer’s stock valued at $149,435,000 after purchasing an additional 17,948 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.
ROST has been the topic of several analyst reports. DA Davidson increased their target price on shares of Ross Stores to $105.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Telsey Advisory Group lowered Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 target price on the stock. in a report on Monday, June 24th. Goldman Sachs Group lowered Ross Stores from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $102.00 to $91.00 in a report on Thursday, June 27th. Bank of America set a $120.00 target price on Ross Stores and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Cowen set a $116.00 target price on Ross Stores and gave the company a “buy” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Ross Stores has an average rating of “Buy” and a consensus price target of $107.61.
Shares of NASDAQ:ROST traded down $0.13 during midday trading on Wednesday, reaching $108.03. The company had a trading volume of 137,908 shares, compared to its average volume of 2,053,430. Ross Stores, Inc. has a 1-year low of $75.91 and a 1-year high of $110.67. The stock has a market cap of $39.57 billion, a PE ratio of 25.36, a P/E/G ratio of 2.32 and a beta of 0.84. The company has a quick ratio of 0.63, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average price is $105.27 and its 200 day moving average price is $99.17.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.14 EPS for the quarter, beating the consensus estimate of $1.12 by $0.02. Ross Stores had a return on equity of 49.21% and a net margin of 10.46%. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the firm posted $1.04 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, research analysts expect that Ross Stores, Inc. will post 4.5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, September 11th. Ross Stores’s dividend payout ratio is 23.94%.
Ross Stores 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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