Ross Stores, Inc. (ROST) Position Decreased by Arizona State Retirement System
Arizona State Retirement System decreased its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,300 shares of the apparel retailer’s stock after selling 2,300 shares during the period. Arizona State Retirement System’s holdings in Ross Stores were worth $6,368,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in ROST. Retirement Systems of Alabama increased its position 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 worth $12,549,000 after buying an additional 2,542 shares during the period. Mechanics Bank Trust Department increased its position in shares of Ross Stores by 0.5% in the second quarter. Mechanics Bank Trust Department now owns 65,450 shares of the apparel retailer’s stock worth $3,778,000 after buying an additional 315 shares during the last quarter. Alpha Windward LLC increased its position in shares of Ross Stores by 0.8% in the first quarter. Alpha Windward LLC now owns 2,974 shares of the apparel retailer’s stock worth $196,000 after buying an additional 23 shares during the last quarter. Clinton Group Inc. increased its position in shares of Ross Stores by 117.8% in the first quarter. Clinton Group Inc. now owns 148,624 shares of the apparel retailer’s stock worth $9,790,000 after buying an additional 80,388 shares during the last quarter. Finally, Azimuth Capital Management LLC increased its position in shares of Ross Stores by 3.8% in the first quarter. Azimuth Capital Management LLC now owns 146,935 shares of the apparel retailer’s stock worth $9,679,000 after buying an additional 5,350 shares during the last quarter. Institutional investors own 91.37% of the company’s stock.
Shares of Ross Stores, Inc. (ROST) opened at 55.56 on Friday. The firm has a market cap of $21.62 billion, a price-to-earnings ratio of 19.03 and a beta of 1.10. Ross Stores, Inc. has a 1-year low of $52.91 and a 1-year high of $69.81. The company has a 50 day moving average of $55.47 and a 200 day moving average of $62.49.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. The business had revenue of $3.31 billion during 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 firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.73 earnings per share. On average, equities analysts forecast that Ross Stores, Inc. will post $3.16 earnings per share for the current fiscal year.
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A number of brokerages have commented on ROST. BMO Capital Markets set a $65.00 target price on Ross Stores and gave the company a “hold” rating in a research note on Tuesday, August 8th. Credit Suisse Group restated a “neutral” rating and issued a $64.00 target price (down from $70.00) on shares of Ross Stores in a research note on Tuesday, August 8th. Zacks Investment Research downgraded Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub raised Ross Stores from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Telsey Advisory Group raised Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a report on Friday, July 14th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $69.41.
In other news, Director Sharon D. Garrett sold 16,130 shares of Ross Stores stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $63.23, for a total value of $1,019,899.90. Following the completion of the transaction, the director now owns 4,967 shares of the company’s stock, valued at approximately $314,063.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.
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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