Tredje AP fonden lessened its stake in Ross Stores (NASDAQ:ROST) by 20.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,282 shares of the apparel retailer’s stock after selling 8,210 shares during the quarter. Tredje AP fonden’s holdings in Ross Stores were worth $2,439,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Cerebellum GP LLC bought a new stake in Ross Stores during the fourth quarter worth $132,000. Ballew Advisors Inc bought a new stake in Ross Stores during the first quarter worth $134,000. Harvest Fund Management Co. Ltd bought a new stake in Ross Stores during the fourth quarter worth $159,000. Financial Gravity Companies Inc. bought a new stake in Ross Stores during the fourth quarter worth $164,000. Finally, Certified Advisory Corp bought a new stake in Ross Stores during the fourth quarter worth $185,000. Institutional investors own 90.21% of the company’s stock.
A number of analysts recently commented on ROST shares. Susquehanna Bancshares set a $95.00 price target on Ross Stores and gave the stock a “buy” rating in a report on Wednesday, March 7th. Loop Capital started coverage on Ross Stores in a report on Thursday, March 8th. They set a “buy” rating and a $85.00 price target on the stock. Cowen set a $85.00 price target on Ross Stores and gave the stock a “buy” rating in a report on Tuesday, March 6th. Credit Suisse Group started coverage on Ross Stores in a report on Monday, March 12th. They set an “outperform” rating and a $88.00 price target on the stock. Finally, Zacks Investment Research lowered Ross Stores from a “buy” rating to a “hold” rating in a report on Friday, March 9th. Seven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $81.95.
In other news, VP Michael J. Hartshorn sold 3,361 shares of Ross Stores stock in a transaction on Friday, March 16th. The stock was sold at an average price of $76.94, for a total value of $258,595.34. Following the completion of the transaction, the vice president now directly owns 79,158 shares in the company, valued at $6,090,416.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Michael Balmuth sold 59,777 shares of Ross Stores stock in a transaction on Monday, March 12th. The shares were sold at an average price of $76.53, for a total value of $4,574,733.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 256,652 shares of company stock valued at $19,829,016. 2.30% of the stock is owned by company insiders.
NASDAQ:ROST opened at $82.47 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.64 and a quick ratio of 0.78. Ross Stores has a 1 year low of $52.85 and a 1 year high of $85.66. The firm has a market capitalization of $31.23 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.05 and a beta of 1.06.
Ross Stores (NASDAQ:ROST) last released its earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.05. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.95 billion. equities research analysts predict that Ross Stores will post 4.03 EPS for the current fiscal year.
Ross Stores declared that its Board of Directors has authorized a stock buyback plan on Tuesday, March 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
Ross Stores Company 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 in the United States. It 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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