Schroder Investment Management Group increased its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 29.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 399,256 shares of the apparel retailer’s stock after purchasing an additional 90,481 shares during the period. Schroder Investment Management Group owned approximately 0.11% of Ross Stores worth $33,976,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in ROST. Voya Investment Management LLC boosted its position in Ross Stores by 379.2% in the 2nd quarter. Voya Investment Management LLC now owns 1,769,749 shares of the apparel retailer’s stock valued at $149,986,000 after buying an additional 1,400,405 shares during the period. Marshall Wace LLP boosted its position in Ross Stores by 3,515.8% in the 2nd quarter. Marshall Wace LLP now owns 789,183 shares of the apparel retailer’s stock valued at $66,883,000 after buying an additional 767,357 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Ross Stores by 15.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,360,522 shares of the apparel retailer’s stock valued at $454,305,000 after buying an additional 724,764 shares during the period. Jennison Associates LLC boosted its position in Ross Stores by 70.2% in the 2nd quarter. Jennison Associates LLC now owns 1,710,090 shares of the apparel retailer’s stock valued at $144,930,000 after buying an additional 705,317 shares during the period. Finally, Millennium Management LLC boosted its position in Ross Stores by 29.8% in the 1st quarter. Millennium Management LLC now owns 2,603,686 shares of the apparel retailer’s stock valued at $203,035,000 after buying an additional 598,433 shares during the period. 88.24% of the stock is owned by hedge funds and other institutional investors.
Shares of ROST opened at $95.02 on Thursday. Ross Stores, Inc. has a fifty-two week low of $62.34 and a fifty-two week high of $100.58. The company has a market capitalization of $37.00 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 0.85.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 23rd. The apparel retailer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. Ross Stores had a net margin of 10.41% and a return on equity of 47.56%. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the company earned $0.82 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts expect that Ross Stores, Inc. will post 4.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Thursday, September 13th were given a $0.225 dividend. The ex-dividend date was Wednesday, September 12th. This represents a $0.90 annualized dividend and a dividend yield of 0.95%. Ross Stores’s payout ratio is presently 26.95%.
Several equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Loop Capital boosted their price objective on shares of Ross Stores from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 3rd. BidaskClub cut shares of Ross Stores from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 3rd. DA Davidson assumed coverage on shares of Ross Stores in a research report on Tuesday, September 25th. They issued a “neutral” rating and a $96.00 price objective for the company. Finally, Barclays assumed coverage on shares of Ross Stores in a research report on Tuesday, September 11th. They issued an “equal weight” rating and a $106.00 price objective for the company. Twelve research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Ross Stores currently has an average rating of “Buy” and an average target price of $96.04.
In other news, Director Norman A. Ferber sold 10,144 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $94.90, for a total value of $962,665.60. Following the completion of the sale, the director now owns 25,127 shares of the company’s stock, valued at approximately $2,384,552.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by corporate insiders.
About Ross Stores
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 in the United States. It 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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