Schroder Investment Management Group cut its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 16.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 493,739 shares of the apparel retailer’s stock after selling 98,697 shares during the quarter. Schroder Investment Management Group’s holdings in Ross Stores were worth $48,939,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of ROST. TrinityPoint Wealth LLC increased its position in Ross Stores by 4.0% in the 2nd quarter. TrinityPoint Wealth LLC now owns 2,619 shares of the apparel retailer’s stock valued at $277,000 after buying an additional 101 shares in the last quarter. Wedbush Securities Inc. increased its holdings in Ross Stores by 2.5% during the 2nd quarter. Wedbush Securities Inc. now owns 4,779 shares of the apparel retailer’s stock worth $474,000 after purchasing an additional 118 shares in the last quarter. Welch Group LLC increased its holdings in Ross Stores by 4.1% during the 2nd quarter. Welch Group LLC now owns 3,281 shares of the apparel retailer’s stock worth $325,000 after purchasing an additional 130 shares in the last quarter. Slow Capital Inc. increased its holdings in Ross Stores by 0.5% during the 2nd quarter. Slow Capital Inc. now owns 25,473 shares of the apparel retailer’s stock worth $2,525,000 after purchasing an additional 133 shares in the last quarter. Finally, Graves Light Private Wealth Management Inc. increased its holdings in Ross Stores by 4.5% during the 2nd quarter. Graves Light Private Wealth Management Inc. now owns 3,081 shares of the apparel retailer’s stock worth $305,000 after purchasing an additional 134 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.
In related news, Director George Orban sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $102.50, for a total value of $102,500.00. Following the transaction, the director now owns 543,939 shares in the company, valued at $55,753,747.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James S. Fassio sold 85,238 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $104.85, for a total value of $8,937,204.30. The disclosure for this sale can be found here. Insiders sold a total of 155,238 shares of company stock worth $16,416,914 in the last 90 days. Company insiders own 2.30% of the company’s stock.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 22nd. The apparel retailer reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.96 billion. During the same quarter in the previous year, the business earned $1.04 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. On average, equities analysts predict that Ross Stores, Inc. will post 4.5 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be paid a $0.255 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.94%. Ross Stores’s payout ratio is presently 23.94%.
A number of brokerages have commented on ROST. Goldman Sachs Group lowered Ross Stores from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $102.00 to $91.00 in a report on Thursday, June 27th. BidaskClub raised Ross Stores from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Guggenheim set a $120.00 price objective on Ross Stores and gave the stock a “buy” rating in a report on Friday, August 23rd. DA Davidson boosted their price objective on Ross Stores to $105.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, Loop Capital raised Ross Stores to a “buy” rating and set a $120.00 price objective for the company in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $107.61.
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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