Westpac Banking Corp boosted its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 234.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 231,631 shares of the apparel retailer’s stock after buying an additional 162,470 shares during the quarter. Westpac Banking Corp owned 0.06% of Ross Stores worth $22,959,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Manhattan Co. purchased a new stake in Ross Stores in the first quarter valued at approximately $27,000. Litman Gregory Asset Management LLC purchased a new stake in Ross Stores in the second quarter valued at approximately $32,000. Berman Capital Advisors LLC boosted its position in Ross Stores by 32.2% in the first quarter. Berman Capital Advisors LLC now owns 522 shares of the apparel retailer’s stock valued at $48,000 after buying an additional 127 shares during the last quarter. Thor Advisors LLC purchased a new stake in Ross Stores in the first quarter valued at approximately $54,000. Finally, Cornerstone Advisors Inc. boosted its position in Ross Stores by 26.0% in the first quarter. Cornerstone Advisors Inc. now owns 820 shares of the apparel retailer’s stock valued at $76,000 after buying an additional 169 shares during the last quarter. 89.62% of the stock is owned by institutional investors.
A number of brokerages have issued reports on ROST. BidaskClub raised Ross Stores from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Goldman Sachs Group downgraded Ross Stores from a “neutral” rating to a “sell” rating and decreased their price target for the company from $102.00 to $91.00 in a report on Thursday, June 27th. Telsey Advisory Group downgraded Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 price target for the company. in a report on Monday, June 24th. Robert W. Baird began coverage on Ross Stores in a report on Monday, May 13th. They issued an “outperform” rating and a $108.00 price target for the company. Finally, Zacks Investment Research raised Ross Stores from a “sell” rating to a “hold” rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Ross Stores has an average rating of “Buy” and a consensus target price of $98.64.
Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.01. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Ross Stores had a return on equity of 48.92% and a net margin of 10.47%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.11 EPS. On average, equities analysts expect that Ross Stores, Inc. will post 4.51 earnings per share for the current year.
In other news, Chairman Michael Balmuth sold 81,049 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $92.87, for a total transaction of $7,527,020.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Barbara Rentler sold 40,000 shares of the stock in a transaction 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 of the company’s stock, valued at $46,994,105.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 296,287 shares of company stock valued at $29,806,735. 2.30% of the stock is owned by company insiders.
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.
Featured Story: Understanding each part of a balance sheet
Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST).
Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.