Lazard Asset Management LLC reduced its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 53.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 862,549 shares of the apparel retailer’s stock after selling 1,010,431 shares during the quarter. Lazard Asset Management LLC owned about 0.22% of Ross Stores worth $49,793,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Guardian Life Insurance Co. of America grew its position in shares of Ross Stores by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock worth $101,000 after buying an additional 10 shares during the period. Alps Advisors Inc. grew its position in shares of Ross Stores by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,118 shares of the apparel retailer’s stock worth $411,000 after buying an additional 19 shares during the period. First Heartland Consultants Inc. grew its position in shares of Ross Stores by 0.6% during the 2nd quarter. First Heartland Consultants Inc. now owns 6,136 shares of the apparel retailer’s stock worth $354,000 after buying an additional 34 shares during the period. Parkside Financial Bank & Trust grew its position in shares of Ross Stores by 3.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock worth $108,000 after buying an additional 61 shares during the period. Finally, New Amsterdam Partners LLC NY grew its position in shares of Ross Stores by 0.8% during the 2nd quarter. New Amsterdam Partners LLC NY now owns 8,375 shares of the apparel retailer’s stock worth $483,000 after buying an additional 64 shares during the period. Institutional investors own 90.40% of the company’s stock.
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Ross Stores, Inc. (ROST) remained flat at $60.81 during midday trading on Tuesday. 576,534 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $57.60 and its 200 day moving average is $60.80. The company has a market capitalization of $23.45 billion, a price-to-earnings ratio of 20.08 and a beta of 1.09. Ross Stores, Inc. has a 12-month low of $52.85 and a 12-month high of $69.81.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data 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. Ross Stores had a return on equity of 42.95% and a net margin of 8.87%. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. Equities analysts forecast that Ross Stores, Inc. will post $3.23 earnings per share for the current year.
The firm 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. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $0.64 annualized dividend and a yield of 1.05%. Ross Stores’s dividend payout ratio is currently 21.12%.
In other Ross Stores news, CEO Barbara Rentler sold 15,492 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total value of $945,012.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is currently owned by insiders.
Several research firms have recently issued reports on ROST. Royal Bank Of Canada restated a “hold” rating and set a $62.00 target price on shares of Ross Stores in a research report on Monday. Zacks Investment Research upgraded Ross Stores from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Thursday, September 14th. Sanford C. Bernstein initiated coverage on Ross Stores in a research report on Tuesday, September 12th. They issued an “outperform” rating and a $74.00 price objective for the company. Jefferies Group LLC reiterated a “hold” rating and issued a $63.00 price objective on shares of Ross Stores in a research report on Tuesday, September 12th. Finally, BMO Capital Markets set a $65.00 price objective on Ross Stores and gave the company a “hold” rating in a research report on Sunday, September 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $69.74.
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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