Novare Capital Management LLC Acquires New Stake in Ross Stores, Inc. (ROST)
Novare Capital Management LLC acquired a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,662 shares of the apparel retailer’s stock, valued at approximately $947,000.
Other hedge funds also recently modified their holdings of the company. Balentine LLC increased its position in shares of Ross Stores by 0.3% during the second quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock worth $102,000 after acquiring an additional 5 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Ross Stores by 3.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock worth $108,000 after acquiring an additional 61 shares in the last quarter. Acrospire Investment Management LLC boosted its holdings in Ross Stores by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock worth $115,000 after purchasing an additional 1,000 shares during the last quarter. Welch Group LLC boosted its holdings in Ross Stores by 35.2% during the second quarter. Welch Group LLC now owns 2,752 shares of the apparel retailer’s stock worth $159,000 after purchasing an additional 716 shares during the last quarter. Finally, Sun Life Financial INC boosted its holdings in Ross Stores by 20,314.3% during the second quarter. Sun Life Financial INC now owns 2,858 shares of the apparel retailer’s stock worth $165,000 after purchasing an additional 2,844 shares during the last quarter. 90.51% of the stock is owned by institutional investors.
Several research analysts recently commented on ROST shares. Zacks Investment Research upgraded shares of Ross Stores from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, August 21st. Buckingham Research restated a “neutral” rating and set a $71.00 target price on shares of Ross Stores in a report on Thursday, October 19th. Instinet restated a “buy” rating and set a $74.00 target price on shares of Ross Stores in a report on Sunday, August 20th. UBS AG reduced their target price on shares of Ross Stores from $70.00 to $64.00 and set a “neutral” rating for the company in a report on Friday, August 18th. Finally, SunTrust Banks, Inc. set a $80.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Ross Stores currently has a consensus rating of “Buy” and an average target price of $72.48.
Ross Stores, Inc. (ROST) traded up $6.56 during midday trading on Friday, hitting $72.25. 2,543,042 shares of the stock were exchanged, compared to its average volume of 2,958,363. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14. The firm has a market cap of $25,330.00, a PE ratio of 21.28, a PEG ratio of 2.00 and a beta of 1.09. Ross Stores, Inc. has a one year low of $52.85 and a one year high of $73.94.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. Ross Stores’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 EPS. equities analysts anticipate that Ross Stores, Inc. will post 3.22 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Thursday, November 30th. Ross Stores’s dividend payout ratio is presently 21.12%.
In related news, CEO Barbara Rentler sold 15,492 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total transaction of $945,012.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Brian R. Morrow sold 6,157 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total transaction of $402,052.10. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
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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