Kayne Anderson Rudnick Investment Management LLC decreased its stake in Ross Stores, Inc. (NASDAQ:ROST) by 19.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 409,191 shares of the apparel retailer’s stock after selling 99,884 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.11% of Ross Stores worth $26,422,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in shares of Ross Stores by 77.5% in the third quarter. Russell Investments Group Ltd. now owns 463,801 shares of the apparel retailer’s stock worth $29,947,000 after acquiring an additional 202,464 shares during the last quarter. Kiwi Wealth Investments Limited Partnership grew its stake in shares of Ross Stores by 278.9% in the third quarter. Kiwi Wealth Investments Limited Partnership now owns 155,473 shares of the apparel retailer’s stock worth $10,039,000 after acquiring an additional 114,435 shares during the last quarter. Kwmg LLC grew its stake in shares of Ross Stores by 8.1% in the third quarter. Kwmg LLC now owns 27,012 shares of the apparel retailer’s stock worth $1,744,000 after acquiring an additional 2,014 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Ross Stores by 1.2% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 95,900 shares of the apparel retailer’s stock worth $6,192,000 after acquiring an additional 1,159 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Ross Stores by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 5,265,781 shares of the apparel retailer’s stock worth $340,012,000 after acquiring an additional 85,983 shares during the last quarter. Institutional investors and hedge funds own 90.51% of the company’s stock.
Ross Stores, Inc. (NASDAQ ROST) traded up $6.70 during trading on Friday, hitting $72.39. The company had a trading volume of 3,117,461 shares, compared to its average volume of 2,934,564. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.64 and a quick ratio of 0.76. Ross Stores, Inc. has a fifty-two week low of $52.85 and a fifty-two week high of $69.81. The company has a market capitalization of $24,913.11, a PE ratio of 21.32, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 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 $3.33 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the business posted $0.62 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. equities analysts predict that Ross Stores, Inc. will post 3.22 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.88%. Ross Stores’s dividend payout ratio is 21.12%.
In related news, CEO Barbara Rentler sold 15,492 shares of Ross Stores stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian R. Morrow sold 6,157 shares of Ross Stores stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total value of $402,052.10. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Several brokerages have recently issued reports on ROST. Morgan Stanley raised their price objective on shares of Ross Stores from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank Of Canada restated a “sector perform” rating and issued a $70.00 price objective (up previously from $62.00) on shares of Ross Stores in a research note on Friday. SunTrust Banks, Inc. set a $80.00 price objective on shares of Ross Stores and gave the stock a “buy” rating in a research note on Friday. Telsey Advisory Group lifted their price target on shares of Ross Stores from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Buckingham Research reiterated a “neutral” rating and set a $71.00 price target on shares of Ross Stores in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $71.75.
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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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