WEALTHFRONT Corp purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,419 shares of the apparel retailer’s stock, valued at approximately $1,132,000.
Several other large investors have also modified their holdings of ROST. JPMorgan Chase & Co. lifted its holdings in Ross Stores by 33.8% in the third quarter. JPMorgan Chase & Co. now owns 13,907,770 shares of the apparel retailer’s stock valued at $1,378,259,000 after buying an additional 3,512,781 shares during the period. Voya Investment Management LLC lifted its holdings in Ross Stores by 379.2% in the second quarter. Voya Investment Management LLC now owns 1,769,749 shares of the apparel retailer’s stock valued at $149,986,000 after buying an additional 1,400,405 shares during the period. Marshall Wace LLP lifted its holdings in Ross Stores by 3,515.8% in the second quarter. Marshall Wace LLP now owns 789,183 shares of the apparel retailer’s stock valued at $66,883,000 after buying an additional 767,357 shares during the period. Worldquant Millennium Quantitative Strategies LLC acquired a new position in Ross Stores in the second quarter valued at $34,436,000. Finally, American Century Companies Inc. lifted its holdings in Ross Stores by 13.1% in the second quarter. American Century Companies Inc. now owns 3,506,171 shares of the apparel retailer’s stock valued at $297,148,000 after buying an additional 404,841 shares during the period. Institutional investors own 87.90% of the company’s stock.
NASDAQ:ROST opened at $78.34 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 0.10. The stock has a market cap of $30.46 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 1.95 and a beta of 0.97. Ross Stores, Inc. has a one year low of $73.76 and a one year high of $104.35.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Tuesday, November 20th. The apparel retailer reported $0.91 EPS for the quarter, topping the consensus estimate of $0.90 by $0.01. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.55 billion. Ross Stores had a net margin of 10.68% and a return on equity of 48.34%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. On average, equities analysts predict that Ross Stores, Inc. will post 4.19 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, December 6th. Ross Stores’s payout ratio is presently 26.95%.
Several equities research analysts have weighed in on ROST shares. BidaskClub downgraded shares of Ross Stores from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 3rd. Zacks Investment Research downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Morgan Stanley decreased their price target on shares of Ross Stores from $99.00 to $94.00 and set an “overweight” rating for the company in a research note on Friday, November 23rd. SunTrust Banks lifted their price target on shares of Ross Stores to $103.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Finally, Loop Capital lifted their price target on shares of Ross Stores from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eighteen have given a buy rating to the company’s stock. Ross Stores currently has a consensus rating of “Buy” and a consensus target price of $96.12.
In other news, CEO Barbara Rentler sold 20,000 shares of the business’s stock in a transaction dated Friday, October 12th. The shares were sold at an average price of $95.15, for a total transaction of $1,903,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.
About Ross Stores
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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