Dividend Assets Capital LLC Has $50,569,000 Stake in Ross Stores Inc. (ROST)
Dividend Assets Capital LLC boosted its position in Ross Stores Inc. (NASDAQ:ROST) by 11,841.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 892,030 shares of the apparel retailer’s stock after buying an additional 884,560 shares during the period. Dividend Assets Capital LLC owned approximately 0.22% of Ross Stores worth $50,569,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. NN Investment Partners Holdings N.V. bought a new position in shares of Ross Stores during the first quarter worth approximately $140,000. Carroll Financial Associates Inc. raised its position in shares of Ross Stores by 0.7% in the second quarter. Carroll Financial Associates Inc. now owns 2,605 shares of the apparel retailer’s stock worth $147,000 after buying an additional 17 shares during the last quarter. Independent Portfolio Consultants Inc. bought a new position in shares of Ross Stores during the second quarter worth approximately $151,000. Citizens Financial Group Inc RI raised its position in shares of Ross Stores by 51.6% in the first quarter. Citizens Financial Group Inc RI now owns 2,737 shares of the apparel retailer’s stock worth $159,000 after buying an additional 931 shares during the last quarter. Finally, Springbok Capital Management LLC bought a new position in shares of Ross Stores during the first quarter worth approximately $160,000. 90.21% of the stock is currently owned by institutional investors and hedge funds.
Ross Stores Inc. (NASDAQ:ROST) traded down 1.49% during mid-day trading on Wednesday, reaching $63.43. 2,197,446 shares of the company’s stock were exchanged. Ross Stores Inc. has a one year low of $43.47 and a one year high of $66.28. The company’s 50-day moving average is $62.76 and its 200 day moving average is $58.37. The firm has a market capitalization of $25.16 billion, a P/E ratio of 24.15 and a beta of 0.84.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 18th. The apparel retailer reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.04. The business earned $3.18 billion during the quarter, compared to analyst estimates of $3.13 billion. Ross Stores had a net margin of 8.55% and a return on equity of 42.01%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. Equities analysts predict that Ross Stores Inc. will post $2.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Wednesday, August 31st. Ross Stores’s payout ratio is 20.53%.
A number of equities analysts have recently commented on ROST shares. Bank of America Corp. set a $70.00 price target on shares of Ross Stores and gave the stock a “buy” rating in a report on Monday, September 12th. Wedbush increased their price target on shares of Ross Stores from $65.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, August 19th. Citigroup Inc. increased their price target on shares of Ross Stores from $65.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, August 19th. Royal Bank Of Canada increased their price target on shares of Ross Stores from $56.00 to $65.00 and gave the stock a “sector perform” rating in a report on Friday, August 19th. Finally, Buckingham Research raised shares of Ross Stores from a “neutral” rating to a “buy” rating in a research note on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. Ross Stores presently has an average rating of “Hold” and a consensus price target of $65.09.
In other Ross Stores news, insider James S. Fassio sold 12,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $63.35, for a total transaction of $760,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George Orban sold 56,000 shares of the stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $57.52, for a total transaction of $3,221,120.00. Following the sale, the director now directly owns 506,750 shares of the company’s stock, valued at $29,148,260. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.
About Ross Stores
Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.
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