QRG Capital Management Inc. raised its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 54.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,051 shares of the apparel retailer's stock after buying an additional 16,542 shares during the quarter. QRG Capital Management Inc.'s holdings in Ross Stores were worth $6,013,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of ROST. Hahn Capital Management LLC increased its stake in Ross Stores by 40.9% during the fourth quarter. Hahn Capital Management LLC now owns 74,059 shares of the apparel retailer's stock worth $11,203,000 after purchasing an additional 21,500 shares during the period. Baird Financial Group Inc. increased its stake in Ross Stores by 274.3% during the fourth quarter. Baird Financial Group Inc. now owns 20,466 shares of the apparel retailer's stock worth $3,096,000 after purchasing an additional 14,998 shares during the period. FMR LLC increased its stake in Ross Stores by 11.9% during the fourth quarter. FMR LLC now owns 7,620,083 shares of the apparel retailer's stock worth $1,152,690,000 after purchasing an additional 807,850 shares during the period. Oppenheimer & Co. Inc. increased its stake in Ross Stores by 22.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 2,847 shares of the apparel retailer's stock worth $431,000 after purchasing an additional 524 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in Ross Stores during the fourth quarter worth about $17,221,000. Institutional investors and hedge funds own 86.86% of the company's stock.
Ross Stores Stock Performance
Shares of ROST opened at $129.05 on Wednesday. The stock has a 50 day moving average price of $141.65 and a 200 day moving average price of $142.17. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $42.21 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.76 and a beta of 1.14. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60.
Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.03. The firm had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.94 billion. Ross Stores had a return on equity of 38.77% and a net margin of 9.79%. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 earnings per share. Research analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.
Ross Stores Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.405 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.26%. Ross Stores's dividend payout ratio (DPR) is presently 25.59%.
Insider Transactions at Ross Stores
In other news, COO Michael J. Hartshorn sold 7,492 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $127.69, for a total transaction of $956,653.48. Following the transaction, the chief operating officer now directly owns 139,091 shares in the company, valued at approximately $17,760,529.79. This trade represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Michael Balmuth sold 11,261 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total transaction of $1,481,947.60. Following the transaction, the chairman now owns 59,790 shares in the company, valued at approximately $7,868,364. This trade represents a 15.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,059 shares of company stock worth $3,768,677. Insiders own 2.20% of the company's stock.
Analysts Set New Price Targets
ROST has been the topic of a number of recent research reports. Robert W. Baird cut their price target on shares of Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Loop Capital cut their price target on shares of Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Wall Street Zen lowered shares of Ross Stores from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. BMO Capital Markets cut their target price on shares of Ross Stores from $168.00 to $156.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Finally, Morgan Stanley cut their target price on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating on the stock in a research note on Friday, May 23rd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.53.
Check Out Our Latest Report on Ross Stores
Ross Stores Company Profile
(
Free Report)
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 brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.
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