Hennessy Advisors Inc. Invests $19,187,000 in Ross Stores Inc. (ROST)
Hennessy Advisors Inc. purchased a new position in shares of Ross Stores Inc. (NASDAQ:ROST) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 298,400 shares of the apparel retailer’s stock, valued at approximately $19,187,000. Hennessy Advisors Inc. owned about 0.08% of Ross Stores as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Ross Stores by 1.2% in the second quarter. Vanguard Group Inc. now owns 38,030,533 shares of the apparel retailer’s stock worth $2,155,952,000 after buying an additional 464,766 shares during the period. FMR LLC increased its position in Ross Stores by 5.4% in the second quarter. FMR LLC now owns 36,204,880 shares of the apparel retailer’s stock worth $2,052,454,000 after buying an additional 1,852,111 shares during the period. Primecap Management Co. CA increased its position in Ross Stores by 1.7% in the second quarter. Primecap Management Co. CA now owns 15,296,500 shares of the apparel retailer’s stock worth $867,159,000 after buying an additional 259,700 shares during the period. BlackRock Fund Advisors increased its position in Ross Stores by 3.0% in the second quarter. BlackRock Fund Advisors now owns 6,919,485 shares of the apparel retailer’s stock worth $392,266,000 after buying an additional 199,563 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Ross Stores by 7.3% in the second quarter. JPMorgan Chase & Co. now owns 6,823,750 shares of the apparel retailer’s stock worth $386,837,000 after buying an additional 465,106 shares during the period. Institutional investors own 87.68% of the company’s stock.
Ross Stores Inc. (NASDAQ:ROST) traded up 0.35% on Tuesday, hitting $68.60. 641,259 shares of the company’s stock traded hands. The stock has a 50-day moving average of $64.21 and a 200-day moving average of $60.46. Ross Stores Inc. has a one year low of $50.42 and a one year high of $69.81. The stock has a market cap of $26.81 billion, a PE ratio of 25.22 and a beta of 0.94.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, November 17th. The apparel retailer reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.06. Ross Stores had a net margin of 8.58% and a return on equity of 42.09%. The business earned $3.10 billion during the quarter. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities analysts forecast that Ross Stores Inc. will post $2.81 earnings per share for the current fiscal year.
The business 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 dividend of $0.135 per share. The ex-dividend date is Monday, December 5th. This represents a $0.54 annualized dividend and a dividend yield of 0.79%. Ross Stores’s payout ratio is currently 19.85%.
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A number of research analysts have weighed in on the company. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $64.00 target price on shares of Ross Stores in a report on Monday, August 1st. Buckingham Research upgraded Ross Stores from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. Zacks Investment Research downgraded Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, November 22nd. Telsey Advisory Group upped their target price on Ross Stores from $68.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday, November 18th. Finally, Royal Bank Of Canada boosted their price target on Ross Stores from $65.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Friday, November 18th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $67.39.
In related news, insider James S. Fassio sold 12,000 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Barbara Rentler sold 20,000 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $62.54, for a total transaction of $1,250,800.00. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
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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