Checchi Capital Advisers LLC Sells 3,205 Shares of Ross Stores, Inc. (ROST)
Checchi Capital Advisers LLC reduced its position in Ross Stores, Inc. (NASDAQ:ROST) by 39.3% during the second quarter, Holdings Channel reports. The institutional investor owned 4,945 shares of the apparel retailer’s stock after selling 3,205 shares during the period. Checchi Capital Advisers LLC’s holdings in Ross Stores were worth $285,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of ROST. ProShare Advisors LLC raised its position in Ross Stores by 0.8% in the first quarter. ProShare Advisors LLC now owns 156,832 shares of the apparel retailer’s stock worth $10,331,000 after buying an additional 1,220 shares during the last quarter. GW Henssler & Associates Ltd. raised its position in shares of Ross Stores by 0.5% in the first quarter. GW Henssler & Associates Ltd. now owns 164,144 shares of the apparel retailer’s stock valued at $10,812,000 after buying an additional 852 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Ross Stores by 2.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 10,576 shares of the apparel retailer’s stock valued at $651,000 after buying an additional 234 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Ross Stores by 37.0% in the first quarter. Nationwide Fund Advisors now owns 676,207 shares of the apparel retailer’s stock valued at $44,542,000 after buying an additional 182,502 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of 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. Institutional investors own 90.20% of the company’s stock.
Ross Stores, Inc. (NASDAQ ROST) opened at 54.37 on Thursday. Ross Stores, Inc. has a 1-year low of $52.85 and a 1-year high of $69.81. The stock has a 50 day moving average price of $55.26 and a 200 day moving average price of $62.21. The company has a market cap of $21.16 billion, a P/E ratio of 18.63 and a beta of 1.10. Ross Stores also saw unusually large options trading on Monday. Stock traders bought 7,510 put options on the company. This represents an increase of 1,008% compared to the typical daily volume of 678 put options.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. Ross Stores had a return on equity of 42.56% and a net margin of 8.77%. The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the prior year, the firm earned $0.73 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that Ross Stores, Inc. will post $3.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 7th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.18%. Ross Stores’s dividend payout ratio (DPR) is 21.92%.
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ROST has been the subject of several recent research reports. Zacks Investment Research upgraded Ross Stores from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. BidaskClub cut Ross Stores from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. Morgan Stanley reissued an “overweight” rating and set a $69.00 target price on shares of Ross Stores in a research note on Monday, May 22nd. 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 research note on Friday, July 14th. They noted that the move was a valuation call. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $64.00 price target (down from $70.00) on shares of Ross Stores in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. Ross Stores currently has an average rating of “Hold” and a consensus target price of $69.41.
In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the transaction, the director now directly owns 4,967 shares in the company, valued at $314,063.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is owned by corporate insiders.
About Ross Stores
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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