Parametric Portfolio Associates LLC Increases Stake in Ross Stores, Inc. (NASDAQ:ROST)
Parametric Portfolio Associates LLC grew its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 0.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,599,937 shares of the apparel retailer’s stock after buying an additional 4,114 shares during the period. Parametric Portfolio Associates LLC’s holdings in Ross Stores were worth $158,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC lifted its holdings in shares of Ross Stores by 4.0% in the 2nd quarter. TrinityPoint Wealth LLC now owns 2,619 shares of the apparel retailer’s stock worth $277,000 after acquiring an additional 101 shares during the last quarter. Wetherby Asset Management Inc. lifted its position in shares of Ross Stores by 1.0% during the first quarter. Wetherby Asset Management Inc. now owns 11,353 shares of the apparel retailer’s stock worth $1,057,000 after purchasing an additional 114 shares during the last quarter. Cetera Advisor Networks LLC boosted its stake in shares of Ross Stores by 0.9% during the first quarter. Cetera Advisor Networks LLC now owns 13,143 shares of the apparel retailer’s stock valued at $1,225,000 after purchasing an additional 116 shares during the period. Wedbush Securities Inc. boosted its stake in shares of Ross Stores by 2.5% during the second quarter. Wedbush Securities Inc. now owns 4,779 shares of the apparel retailer’s stock valued at $474,000 after purchasing an additional 118 shares during the period. Finally, Berman Capital Advisors LLC boosted its position in Ross Stores by 32.2% during the first quarter. Berman Capital Advisors LLC now owns 522 shares of the apparel retailer’s stock valued at $48,000 after purchasing an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.
Several equities analysts have issued reports on the stock. Citigroup lifted their price target on shares of Ross Stores from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Jefferies Financial Group set a $100.00 price objective on Ross Stores and gave the stock a “hold” rating in a research report on Friday, August 23rd. Loop Capital raised Ross Stores to a “buy” rating and set a $120.00 target price on the stock in a research report on Friday, August 16th. Wells Fargo & Co increased their price target on Ross Stores from $104.00 to $116.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, Bank of America set a $120.00 price target on Ross Stores and gave the stock a “buy” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $107.61.
Shares of NASDAQ:ROST traded down $0.10 during trading on Wednesday, hitting $108.06. The stock had a trading volume of 789,823 shares, compared to its average volume of 2,053,430. The company has a quick ratio of 0.63, a current ratio of 1.31 and a debt-to-equity ratio of 0.85. Ross Stores, Inc. has a 12-month low of $75.91 and a 12-month high of $110.67. The stock has a market capitalization of $39.57 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 2.32 and a beta of 0.84. The stock has a 50-day simple moving average of $105.27 and a two-hundred day simple moving average of $99.17.
Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 22nd. The apparel retailer reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.02. Ross Stores had a return on equity of 49.21% and a net margin of 10.46%. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the firm earned $1.04 earnings per share. Ross Stores’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Ross Stores, Inc. will post 4.5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, September 11th. Ross Stores’s payout ratio is 23.94%.
Ross Stores Profile
Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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