AGF Investments Inc. Reduces Stake in Ross Stores, Inc. (ROST)
AGF Investments Inc. lowered its position in Ross Stores, Inc. (NASDAQ:ROST) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 718,010 shares of the apparel retailer’s stock after selling 32,603 shares during the period. AGF Investments Inc. owned approximately 0.18% of Ross Stores worth $47,270,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. A.R.T. Advisors LLC increased its stake in Ross Stores by 1,419.0% in the fourth quarter. A.R.T. Advisors LLC now owns 127,600 shares of the apparel retailer’s stock valued at $8,370,000 after buying an additional 119,200 shares during the last quarter. Retirement Systems of Alabama increased its stake in Ross Stores by 1.4% in the first quarter. Retirement Systems of Alabama now owns 190,510 shares of the apparel retailer’s stock valued at $12,549,000 after buying an additional 2,542 shares during the last quarter. Westport Asset Management Inc. bought a new stake in Ross Stores during the fourth quarter valued at $1,312,000. Aberdeen Asset Management PLC UK increased its stake in Ross Stores by 42.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 223,906 shares of the apparel retailer’s stock valued at $14,688,000 after buying an additional 67,252 shares during the last quarter. Finally, First Republic Investment Management Inc. increased its stake in Ross Stores by 8.1% in the fourth quarter. First Republic Investment Management Inc. now owns 28,210 shares of the apparel retailer’s stock valued at $1,851,000 after buying an additional 2,114 shares during the last quarter. Hedge funds and other institutional investors own 90.32% of the company’s stock.
Shares of Ross Stores, Inc. (NASDAQ:ROST) traded down 1.36% on Friday, hitting $60.08. The stock had a trading volume of 4,407,508 shares. Ross Stores, Inc. has a 12 month low of $52.75 and a 12 month high of $69.81. The firm’s 50-day moving average price is $63.02 and its 200 day moving average price is $65.62. The firm has a market cap of $23.38 billion, a P/E ratio of 20.58 and a beta of 1.07.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.27 billion. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.73 EPS. Analysts anticipate that Ross Stores, Inc. will post $3.16 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Tuesday, June 6th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, June 2nd. Ross Stores’s dividend payout ratio (DPR) is 21.92%.
Several analysts recently weighed in on ROST shares. Instinet upped their price target on Ross Stores from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, March 1st. Jefferies Group LLC upped their price target on Ross Stores from $59.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, March 1st. BMO Capital Markets reaffirmed a “hold” rating and issued a $72.00 price objective on shares of Ross Stores in a research report on Tuesday, April 18th. Royal Bank of Canada set a $70.00 price objective on Ross Stores and gave the company a “hold” rating in a research report on Monday, April 3rd. Finally, Zacks Investment Research cut Ross Stores from a “buy” rating to a “hold” rating in a research report on Friday, March 3rd. Twelve analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $69.82.
In other Ross Stores news, insider Lisa R. Panattoni sold 14,792 shares of the firm’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $66.88, for a total transaction of $989,288.96. Following the transaction, the insider now directly owns 151,432 shares of the company’s stock, valued at approximately $10,127,772.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Barbara Rentler sold 50,481 shares of the firm’s stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $66.10, for a total transaction of $3,336,794.10. Following the transaction, the chief executive officer now directly owns 546,604 shares in the company, valued at $36,130,524.40. The disclosure for this sale can be found here. Insiders have sold a total of 147,632 shares of company stock worth $9,725,921 over the last three months. 2.30% of the stock is currently owned by insiders.
Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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