Eaton Vance Management cut its stake in Ross Stores, Inc. (NASDAQ:ROST) by 8.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,324 shares of the apparel retailer’s stock after selling 32,900 shares during the period. Eaton Vance Management owned approximately 0.09% of Ross Stores worth $19,647,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ROST. Vanguard Group Inc. increased its holdings in Ross Stores by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 35,460,595 shares of the apparel retailer’s stock worth $2,335,790,000 after purchasing an additional 1,208,861 shares in the last quarter. BlackRock Inc. increased its holdings in Ross Stores by 1,908.5% in the 1st quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock worth $1,742,545,000 after purchasing an additional 25,137,186 shares in the last quarter. State Street Corp grew its position 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 buying an additional 173,336 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position 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 buying an additional 146,423 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position 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 buying an additional 327,310 shares during the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.
Ross Stores, Inc. (NASDAQ ROST) traded up 0.18% during mid-day trading on Friday, reaching $60.71. The company’s stock had a trading volume of 3,528,360 shares. The firm’s 50 day moving average is $57.43 and its 200-day moving average is $60.95. The stock has a market cap of $23.25 billion, a P/E ratio of 20.05 and a beta of 1.09. Ross Stores, Inc. has a one year low of $52.85 and a one year high of $69.81.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same period in the prior year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts expect 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 will be paid on Friday, September 29th. Shareholders of record on Thursday, September 7th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Wednesday, September 6th. Ross Stores’s dividend payout ratio is presently 21.12%.
ROST has been the topic of several research analyst reports. Zacks Investment Research upgraded Ross Stores from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, August 21st. Instinet restated a “buy” rating and set a $74.00 target price on shares of Ross Stores in a research report on Sunday, August 20th. UBS AG cut their price target on Ross Stores from $70.00 to $64.00 and set a “neutral” rating on the stock in a report on Friday, August 18th. Telsey Advisory Group upgraded Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a report on Friday, July 14th. They noted that the move was a valuation call. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $80.00 price target on shares of Ross Stores in a report on Sunday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. Ross Stores has a consensus rating of “Buy” and an average price target of $70.00.
In other Ross Stores news, CEO Barbara Rentler sold 15,492 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total value of $945,012.00. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.30% of the company’s stock.
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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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