Ross Stores Inc. (ROST) Shares Sold by Retirement Systems of Alabama
Retirement Systems of Alabama cut its stake in shares of Ross Stores Inc. (NASDAQ:ROST) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 204,845 shares of the apparel retailer’s stock after selling 2,516 shares during the period. Retirement Systems of Alabama owned about 0.05% of Ross Stores worth $11,613,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Palisade Capital Management LLC NJ purchased a new stake in Ross Stores during the first quarter valued at about $4,512,000. TimesSquare Capital Management LLC increased its stake in Ross Stores by 7.2% in the first quarter. TimesSquare Capital Management LLC now owns 1,506,800 shares of the apparel retailer’s stock valued at $87,244,000 after buying an additional 101,600 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Ross Stores during the first quarter valued at about $140,000. JPMorgan Chase & Co. increased its stake in Ross Stores by 32.9% in the first quarter. JPMorgan Chase & Co. now owns 6,358,644 shares of the apparel retailer’s stock valued at $368,167,000 after buying an additional 1,575,465 shares in the last quarter. Finally, BlackRock Japan Co. Ltd boosted its position in Ross Stores by 13.4% in the first quarter. BlackRock Japan Co. Ltd now owns 583,524 shares of the apparel retailer’s stock valued at $33,786,000 after buying an additional 69,172 shares during the last quarter. Hedge funds and other institutional investors own 90.21% of the company’s stock.
Ross Stores Inc. (NASDAQ:ROST) traded up 0.05% during trading on Tuesday, reaching $64.26. The company had a trading volume of 1,597,497 shares. The company has a 50-day moving average of $63.03 and a 200-day moving average of $58.56. The firm has a market capitalization of $25.48 billion, a P/E ratio of 24.46 and a beta of 0.94. Ross Stores Inc. has a 52-week low of $43.47 and a 52-week high of $66.28.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. Ross Stores had a net margin of 8.55% and a return on equity of 42.01%. The business earned $3.18 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the company earned $0.63 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Analysts expect that Ross Stores Inc. will post $2.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Wednesday, August 31st. Ross Stores’s dividend payout ratio (DPR) is 20.53%.
Several research firms recently commented on ROST. Jefferies Group reissued a “hold” rating on shares of Ross Stores in a research note on Thursday, July 14th. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $64.00 target price on shares of Ross Stores in a research note on Monday, August 1st. Buckingham Research raised Ross Stores from a “neutral” rating to a “buy” rating in a research note on Thursday, August 25th. Cowen and Company boosted their target price on Ross Stores from $61.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 13th. Finally, Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company. Ross Stores has a consensus rating of “Buy” and an average target price of $65.29.
In other news, CEO Barbara Rentler sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $62.54, for a total value of $1,250,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James S. Fassio sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $63.35, for a total transaction of $760,200.00. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.
Ross Stores Company Profile
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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