HighTower Advisors LLC Trims Holdings in Ross Stores, Inc. (ROST)

HighTower Advisors LLC reduced its stake in Ross Stores, Inc. (NASDAQ:ROST) by 21.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,249 shares of the apparel retailer’s stock after selling 2,583 shares during the period. HighTower Advisors LLC’s holdings in Ross Stores were worth $535,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Ross Stores by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 36,146,781 shares of the apparel retailer’s stock valued at $2,086,753,000 after acquiring an additional 686,186 shares during the last quarter. BlackRock Inc. increased its holdings in shares of 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 buying an additional 25,137,186 shares during the last quarter. State Street Corp increased its holdings 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 worth $1,178,183,000 after buying an additional 173,336 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings 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 worth $612,317,000 after buying an additional 146,423 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings 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 worth $374,261,000 after buying an additional 327,310 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.

In other Ross Stores news, insider Brian R. Morrow sold 6,157 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total transaction of $402,052.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barbara Rentler sold 15,492 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total transaction of $945,012.00. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “HighTower Advisors LLC Trims Holdings in Ross Stores, Inc. (ROST)” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://ledgergazette.com/2017/10/18/hightower-advisors-llc-trims-holdings-in-ross-stores-inc-rost.html.

Shares of Ross Stores, Inc. (ROST) opened at 63.24 on Wednesday. The firm has a 50-day moving average of $61.89 and a 200 day moving average of $60.41. The stock has a market capitalization of $24.38 billion, a PE ratio of 20.89 and a beta of 1.14. Ross Stores, Inc. has a 52-week low of $52.85 and a 52-week 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 Thomson Reuters’ consensus estimate of $0.77 by $0.05. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.37 billion. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. Ross Stores’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. Equities research analysts forecast that Ross Stores, Inc. will post $3.23 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, September 7th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Wednesday, September 6th. Ross Stores’s dividend payout ratio (DPR) is presently 21.12%.

ROST has been the topic of a number of research reports. Instinet restated a “buy” rating and issued a $74.00 target price on shares of Ross Stores in a report on Sunday, August 20th. Zacks Investment Research downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Credit Suisse Group restated a “neutral” rating and issued a $64.00 target price (down from $70.00) on shares of Ross Stores in a report on Wednesday, August 2nd. BidaskClub upgraded shares of Ross Stores from a “strong sell” rating to a “sell” rating in a report on Monday, July 31s

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Ross Stores by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 36,146,781 shares of the apparel retailer’s stock valued at $2,086,753,000 after acquiring an additional 686,186 shares during the last quarter. BlackRock Inc. increased its holdings in shares of 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 buying an additional 25,137,186 shares during the last quarter. State Street Corp increased its holdings 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 worth $1,178,183,000 after buying an additional 173,336 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings 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 worth $612,317,000 after buying an additional 146,423 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings 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 worth $374,261,000 after buying an additional 327,310 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.

In other Ross Stores news, insider Brian R. Morrow sold 6,157 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total transaction of $402,052.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barbara Rentler sold 15,492 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total transaction of $945,012.00. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “HighTower Advisors LLC Trims Holdings in Ross Stores, Inc. (ROST)” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://ledgergazette.com/2017/10/18/hightower-advisors-llc-trims-holdings-in-ross-stores-inc-rost.html.

Shares of Ross Stores, Inc. (ROST) opened at 63.24 on Wednesday. The firm has a 50-day moving average of $61.89 and a 200 day moving average of $60.41. The stock has a market capitalization of $24.38 billion, a PE ratio of 20.89 and a beta of 1.14. Ross Stores, Inc. has a 52-week low of $52.85 and a 52-week 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 Thomson Reuters’ consensus estimate of $0.77 by $0.05. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.37 billion. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. Ross Stores’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. Equities research analysts forecast that Ross Stores, Inc. will post $3.23 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, September 7th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Wednesday, September 6th. Ross Stores’s dividend payout ratio (DPR) is presently 21.12%.

ROST has been the topic of a number of research reports. Instinet restated a “buy” rating and issued a $74.00 target price on shares of Ross Stores in a report on Sunday, August 20th. Zacks Investment Research downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Credit Suisse Group restated a “neutral” rating and issued a $64.00 target price (down from $70.00) on shares of Ross Stores in a report on Wednesday, August 2nd. BidaskClub upgraded shares of Ross Stores from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Deutsche Bank AG restated a “buy” rating and issued a $75.00 target price on shares of Ross Stores in a report on Monday, August 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $70.17.

Ross Stores 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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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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