Millennium Management LLC raised its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 58.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,005,253 shares of the apparel retailer’s stock after acquiring an additional 736,599 shares during the period. Millennium Management LLC owned approximately 0.52% of Ross Stores worth $160,922,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of ROST. Amundi Pioneer Asset Management Inc. raised its stake in Ross Stores by 63.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,456,503 shares of the apparel retailer’s stock valued at $437,885,000 after acquiring an additional 2,117,771 shares during the last quarter. Nordea Investment Management AB raised its stake in Ross Stores by 8,982.4% during the 3rd quarter. Nordea Investment Management AB now owns 1,617,840 shares of the apparel retailer’s stock valued at $104,464,000 after acquiring an additional 1,600,027 shares during the last quarter. Rockefeller Financial Services Inc. purchased a new stake in Ross Stores during the 4th quarter valued at approximately $117,845,000. Wells Fargo & Company MN raised its stake in Ross Stores by 39.2% during the 3rd quarter. Wells Fargo & Company MN now owns 3,658,907 shares of the apparel retailer’s stock valued at $236,257,000 after acquiring an additional 1,029,990 shares during the last quarter. Finally, Flossbach Von Storch AG raised its stake in Ross Stores by 10.7% during the 3rd quarter. Flossbach Von Storch AG now owns 5,533,170 shares of the apparel retailer’s stock valued at $357,277,000 after acquiring an additional 532,900 shares during the last quarter. 89.58% of the stock is owned by hedge funds and other institutional investors.
ROST has been the subject of several analyst reports. BidaskClub raised Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Susquehanna Bancshares set a $95.00 target price on Ross Stores and gave the stock a “buy” rating in a research note on Wednesday, March 7th. Loop Capital started coverage on Ross Stores in a research note on Thursday, March 8th. They set a “buy” rating and a $85.00 target price for the company. SunTrust Banks set a $80.00 target price on Ross Stores and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, Cowen set a $85.00 target price on Ross Stores and gave the stock a “buy” rating in a research note on Tuesday, March 6th. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $81.86.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%. analysts expect that Ross Stores, Inc. will post 4.03 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Monday, March 19th will be issued a $0.225 dividend. The ex-dividend date is Friday, March 16th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.16%. This is a boost from Ross Stores’s previous quarterly dividend of $0.16. Ross Stores’s dividend payout ratio is currently 18.03%.
Ross Stores announced that its board has authorized a share repurchase program on Tuesday, March 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the apparel retailer to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
COPYRIGHT VIOLATION NOTICE: “Millennium Management LLC Has $160.92 Million Holdings in Ross Stores, Inc. (ROST)” was first posted by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/03/14/millennium-management-llc-has-160-92-million-holdings-in-ross-stores-inc-rost.html.
About Ross Stores
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.
Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.