Wetherby Asset Management Inc. Lowers Position in Ross Stores, Inc. (NASDAQ:ROST)
Wetherby Asset Management Inc. reduced its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 5.9% during the second quarter, Holdings Channel reports. The institutional investor owned 10,031 shares of the apparel retailer’s stock after selling 624 shares during the period. Wetherby Asset Management Inc.’s holdings in Ross Stores were worth $579,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Ross Stores by 1,908.5% in the first quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock valued at $1,742,545,000 after buying an additional 25,137,186 shares in the last quarter. Flossbach Von Storch AG increased its stake in shares of Ross Stores by 7,335.3% in the second quarter. Flossbach Von Storch AG now owns 5,000,270 shares of the apparel retailer’s stock valued at $288,666,000 after buying an additional 4,933,020 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Ross Stores by 3.5% in the first quarter. Vanguard Group Inc. now owns 35,460,595 shares of the apparel retailer’s stock valued at $2,335,790,000 after buying an additional 1,208,861 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Ross Stores during the first quarter valued at approximately $79,225,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Ross Stores during the first quarter valued at approximately $79,225,000. Institutional investors own 91.37% of the company’s stock.
Shares of Ross Stores, Inc. (ROST) opened at 55.56 on Friday. The company has a 50 day moving average of $55.47 and a 200-day moving average of $62.49. The company has a market cap of $21.62 billion, a PE ratio of 19.03 and a beta of 1.10. Ross Stores, Inc. has a 12-month low of $52.91 and a 12-month high of $69.81.
Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the company posted $0.73 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Ross Stores, Inc. will post $3.16 earnings per share for the current year.
A number of research firms have issued reports on ROST. BidaskClub downgraded Ross Stores from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. Royal Bank Of Canada set a $67.00 price target on Ross Stores and gave the company a “hold” rating in a research note on Monday, June 19th. Zacks Investment Research upgraded Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Wednesday, July 12th. Morgan Stanley reiterated an “overweight” rating and set a $69.00 price target on shares of Ross Stores in a research note on Monday, May 22nd. Finally, BMO Capital Markets set a $65.00 price target on Ross Stores and gave the company a “hold” rating in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. Ross Stores has an average rating of “Hold” and an average target price of $69.41.
In related news, Director Sharon D. Garrett sold 16,130 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $63.23, for a total value of $1,019,899.90. Following the sale, the director now owns 4,967 shares in the company, valued at $314,063.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.30% of the company’s stock.
Ross Stores Company 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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