Riverhead Capital Management LLC Sells 41,226 Shares of Ross Stores, Inc. (ROST)

Riverhead Capital Management LLC lowered its position in Ross Stores, Inc. (NASDAQ:ROST) by 31.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,928 shares of the apparel retailer’s stock after selling 41,226 shares during the period. Riverhead Capital Management LLC’s holdings in Ross Stores were worth $5,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Guardian Life Insurance Co. of America boosted its position in Ross Stores by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock worth $101,000 after purchasing an additional 10 shares in the last quarter. TrimTabs Asset Management LLC boosted its position in Ross Stores by 89.2% in the 1st quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock worth $108,000 after purchasing an additional 776 shares in the last quarter. Parallel Advisors LLC boosted its position in Ross Stores by 39.1% in the 1st quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock worth $111,000 after purchasing an additional 478 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Ross Stores by 3.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock worth $108,000 after purchasing an additional 61 shares in the last quarter. Finally, Global X Management Co. LLC boosted its position in Ross Stores by 28.8% in the 1st quarter. Global X Management Co. LLC now owns 2,741 shares of the apparel retailer’s stock worth $181,000 after purchasing an additional 613 shares in the last quarter. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Several research firms have commented on ROST. Jefferies Group LLC restated a “hold” rating and issued a $63.00 price objective on shares of Ross Stores in a research report on Tuesday. Sanford C. Bernstein began coverage on Ross Stores in a research report on Tuesday. They issued an “outperform” rating and a $74.00 price objective on the stock. BMO Capital Markets set a $65.00 price objective on Ross Stores and gave the stock a “hold” rating in a research report on Friday, May 19th. Zacks Investment Research lowered Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Wolfe Research lowered their price objective on Ross Stores from $76.00 to $73.00 and set an “outperform” rating on the stock in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Ross Stores has a consensus rating of “Buy” and a consensus target price of $69.84.

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Ross Stores, Inc. (ROST) traded up 1.35% on Tuesday, reaching $60.07. The company had a trading volume of 192,432 shares. The company has a market capitalization of $23.01 billion, a PE ratio of 19.84 and a beta of 1.09. The company’s 50-day moving average is $56.58 and its 200-day moving average is $61.08. Ross Stores, Inc. has a 52-week low of $52.85 and a 52-week high of $69.81.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 17th. The apparel retailer reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.37 billion. Ross Stores had a return on equity of 42.95% and a net margin of 8.87%. Ross Stores’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. Equities analysts anticipate that Ross Stores, Inc. will post $3.23 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 7th will be issued a $0.16 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.08%. Ross Stores’s dividend payout ratio (DPR) is 21.12%.

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.

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

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