Ross Stores Inc. (ROST) Shares Sold by Commerce Bank
Commerce Bank cut its position in Ross Stores Inc. (NASDAQ:ROST) by 7.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 28,089 shares of the apparel retailer’s stock after selling 2,283 shares during the period. Commerce Bank’s holdings in Ross Stores were worth $1,806,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of ROST. Penobscot Investment Management Company Inc. boosted its position in Ross Stores by 0.8% in the third quarter. Penobscot Investment Management Company Inc. now owns 6,480 shares of the apparel retailer’s stock worth $417,000 after buying an additional 50 shares in the last quarter. Toronto Dominion Bank increased its stake in Ross Stores by 179.9% in the third quarter. Toronto Dominion Bank now owns 14,628 shares of the apparel retailer’s stock worth $941,000 after buying an additional 9,402 shares during the last quarter. KBC Group NV increased its stake in Ross Stores by 161.9% in the third quarter. KBC Group NV now owns 105,131 shares of the apparel retailer’s stock worth $6,760,000 after buying an additional 64,991 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Ross Stores by 5.6% in the third quarter. Neuberger Berman Group LLC now owns 538,487 shares of the apparel retailer’s stock worth $34,625,000 after buying an additional 28,765 shares during the last quarter. Finally, State Treasurer State of Michigan increased its stake in Ross Stores by 4.3% in the third quarter. State Treasurer State of Michigan now owns 163,284 shares of the apparel retailer’s stock worth $10,499,000 after buying an additional 6,700 shares during the last quarter. 87.68% of the stock is currently owned by institutional investors.
Shares of Ross Stores Inc. (NASDAQ:ROST) traded down 0.98% on Monday, hitting $68.36. The stock had a trading volume of 2,693,812 shares. The stock has a 50 day moving average price of $64.21 and a 200-day moving average price of $60.46. The company has a market cap of $26.72 billion, a price-to-earnings ratio of 25.13 and a beta of 0.94. Ross Stores Inc. has a 12-month low of $50.42 and a 12-month high of $69.81.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, November 17th. The apparel retailer reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.06. Ross Stores had a return on equity of 42.09% and a net margin of 8.58%. The business earned $3.10 billion during the quarter. During the same period in the previous year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities analysts expect that Ross Stores Inc. will post $2.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, December 7th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Monday, December 5th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.79%. Ross Stores’s payout ratio is presently 19.85%.
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ROST has been the topic of a number of research reports. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $64.00 price objective on shares of Ross Stores in a research note on Monday, August 1st. Vetr raised Ross Stores from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Monday, August 1st. Citigroup Inc. lifted their price objective on Ross Stores from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Royal Bank Of Canada lifted their price objective on Ross Stores from $56.00 to $65.00 and gave the stock a “sector perform” rating in a research note on Friday, August 19th. Finally, Nomura set a $70.00 price objective on Ross Stores and gave the stock a “buy” rating in a research note on Friday, August 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the stock. Ross Stores has an average rating of “Hold” and a consensus price target of $67.39.
In related news, CEO Barbara Rentler sold 20,000 shares of the business’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $62.54, for a total transaction of $1,250,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James S. Fassio sold 12,000 shares of the business’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $63.35, for a total value of $760,200.00. The disclosure for this sale can be found here. 2.40% of the stock is owned by 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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