Renaissance Technologies LLC Takes $47.53 Million Position in Ross Stores, Inc. (NASDAQ:ROST)
Renaissance Technologies LLC acquired a new position in Ross Stores, Inc. (NASDAQ:ROST) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 479,528 shares of the apparel retailer’s stock, valued at approximately $47,531,000.
Several other institutional investors and hedge funds have also made changes to their positions in ROST. Geode Capital Management LLC lifted its position in shares of Ross Stores by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 6,088,490 shares of the apparel retailer’s stock valued at $505,856,000 after acquiring an additional 456,445 shares during the last quarter. Northern Trust Corp raised its position in shares of Ross Stores by 2.2% during the first quarter. Northern Trust Corp now owns 4,828,660 shares of the apparel retailer’s stock worth $449,548,000 after purchasing an additional 105,658 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Ross Stores by 1.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,668,312 shares of the apparel retailer’s stock worth $165,364,000 after purchasing an additional 17,100 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Ross Stores by 1.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,605,099 shares of the apparel retailer’s stock valued at $149,435,000 after purchasing an additional 17,948 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Ross Stores by 5.5% during the first quarter. Parametric Portfolio Associates LLC now owns 1,595,823 shares of the apparel retailer’s stock valued at $148,571,000 after purchasing an additional 82,513 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.
Shares of NASDAQ ROST traded down $0.25 during mid-day trading on Wednesday, reaching $107.91. The company had a trading volume of 489,578 shares, compared to its average volume of 2,053,430. Ross Stores, Inc. has a twelve month low of $75.91 and a twelve month high of $110.67. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.63 and a current ratio of 1.31. The stock has a market capitalization of $39.57 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 2.32 and a beta of 0.84. The stock’s 50 day moving average is $105.27 and its 200-day moving average is $99.17.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Wednesday, September 11th. Ross Stores’s dividend payout ratio (DPR) is presently 23.94%.
Several research analysts have commented on the stock. Robert W. Baird reiterated an “outperform” rating and issued a $114.00 target price (up from $108.00) on shares of Ross Stores in a report on Friday, August 23rd. Morgan Stanley raised their price objective on shares of Ross Stores from $94.00 to $104.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Jefferies Financial Group set a $100.00 price objective on shares of Ross Stores and gave the stock a “hold” rating in a research report on Friday, August 23rd. DA Davidson boosted their target price on shares of Ross Stores to $105.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Finally, Goldman Sachs Group cut Ross Stores from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $102.00 to $91.00 in a research report on Thursday, June 27th. 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 assigned a strong buy rating to the stock. Ross Stores has a consensus rating of “Buy” and an average price target of $107.61.
In related news, CEO Barbara Rentler sold 40,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $99.16, for a total value of $3,966,400.00. Following the transaction, the chief executive officer now owns 473,922 shares in the company, valued at $46,994,105.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James S. Fassio sold 60,000 shares of the stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $103.38, for a total value of $6,202,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 240,238 shares of company stock valued at $24,956,214 over the last ninety days. Company insiders own 2.30% of the company’s stock.
Ross Stores Company 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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