Comerica Bank Reduces Stake in Ross Stores, Inc. (ROST)
Comerica Bank cut its position in Ross Stores, Inc. (NASDAQ:ROST) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,498 shares of the apparel retailer’s stock after selling 2,473 shares during the period. Comerica Bank’s holdings in Ross Stores were worth $6,553,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. BTC Capital Management Inc. increased its stake in Ross Stores by 0.9% in the first quarter. BTC Capital Management Inc. now owns 51,009 shares of the apparel retailer’s stock worth $3,361,000 after buying an additional 477 shares during the last quarter. KAMES CAPITAL plc increased its stake in Ross Stores by 27.6% in the first quarter. KAMES CAPITAL plc now owns 21,251 shares of the apparel retailer’s stock worth $1,400,000 after buying an additional 4,597 shares during the last quarter. Leavell Investment Management Inc. increased its stake in Ross Stores by 5.6% in the first quarter. Leavell Investment Management Inc. now owns 19,000 shares of the apparel retailer’s stock worth $1,252,000 after buying an additional 1,000 shares during the last quarter. IFP Advisors Inc increased its stake in Ross Stores by 2.2% in the first quarter. IFP Advisors Inc now owns 7,331 shares of the apparel retailer’s stock worth $483,000 after buying an additional 161 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. acquired a new stake in Ross Stores during the first quarter worth approximately $112,000. Institutional investors and hedge funds own 90.20% of the company’s stock.
Shares of Ross Stores, Inc. (NASDAQ:ROST) opened at 58.56 on Tuesday. The firm has a market capitalization of $22.43 billion, a PE ratio of 19.34 and a beta of 1.10. Ross Stores, Inc. has a 1-year low of $52.85 and a 1-year high of $69.81. The firm has a 50-day moving average of $55.20 and a 200-day moving average of $61.99.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 17th. The apparel retailer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.37 billion. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. On average, equities research analysts anticipate that Ross Stores, Inc. will post $3.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 7th will be issued a dividend of $0.16 per share. The ex-dividend date is Wednesday, September 6th. This represents a $0.64 annualized dividend and a yield of 1.09%. Ross Stores’s dividend payout ratio (DPR) is currently 21.12%.
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Several research analysts have recently weighed in on ROST shares. Zacks Investment Research downgraded shares of Ross Stores from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Royal Bank Of Canada set a $70.00 target price on shares of Ross Stores and gave the stock a “hold” rating in a research report on Monday, May 15th. Jefferies Group LLC reissued a “hold” rating and issued a $63.00 target price on shares of Ross Stores in a research report on Tuesday, May 16th. William Blair reissued an “outperform” rating on shares of Ross Stores in a research report on Monday, May 22nd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $69.00 target price on shares of Ross Stores in a research report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. Ross Stores has a consensus rating of “Buy” and an average price target of $69.05.
In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the sale, the director now directly owns 4,967 shares in the company, valued at approximately $314,063.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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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