PYA Waltman Capital LLC raised its position in Ross Stores, Inc. (NASDAQ:ROST – Get Rating) by 54.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,710 shares of the apparel retailer’s stock after purchasing an additional 34,980 shares during the quarter. Ross Stores comprises 4.4% of PYA Waltman Capital LLC’s investment portfolio, making the stock its 7th biggest position. PYA Waltman Capital LLC’s holdings in Ross Stores were worth $9,020,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in ROST. Allspring Global Investments Holdings LLC purchased a new position in shares of Ross Stores in the fourth quarter valued at approximately $2,588,000. CWM LLC acquired a new position in shares of Ross Stores during the fourth quarter worth about $314,000. FDx Advisors Inc. increased its stake in shares of Ross Stores by 11.7% during the fourth quarter. FDx Advisors Inc. now owns 2,865 shares of the apparel retailer’s stock worth $327,000 after buying an additional 301 shares during the period. Fifth Third Bancorp raised its holdings in Ross Stores by 4.8% in the fourth quarter. Fifth Third Bancorp now owns 19,865 shares of the apparel retailer’s stock valued at $2,270,000 after acquiring an additional 908 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Ross Stores by 13.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 963,984 shares of the apparel retailer’s stock worth $109,092,000 after acquiring an additional 117,034 shares during the last quarter. Hedge funds and other institutional investors own 87.02% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on ROST shares. BMO Capital Markets dropped their price objective on shares of Ross Stores from $116.00 to $99.00 in a research note on Friday, May 20th. Robert W. Baird dropped their target price on shares of Ross Stores from $115.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, May 20th. UBS Group dropped their price target on Ross Stores from $94.00 to $85.00 in a research report on Friday, July 15th. Barclays reduced their price target on shares of Ross Stores from $119.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. Finally, Credit Suisse Group cut their price objective on Ross Stores from $125.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, May 20th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $99.89.
Ross Stores Trading Up 0.6 %
Ross Stores (NASDAQ:ROST – Get Rating) last announced its earnings results on Thursday, May 19th. The apparel retailer reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.02). The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Ross Stores had a return on equity of 39.61% and a net margin of 8.46%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.34 earnings per share. Equities research analysts predict that Ross Stores, Inc. will post 4.4 EPS for the current fiscal year.
Ross Stores Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Tuesday, June 7th were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, June 6th. This represents a $1.24 dividend on an annualized basis and a yield of 1.47%. Ross Stores’s dividend payout ratio (DPR) is 27.62%.
Insider Activity at Ross Stores
In related news, Director Michael J. Bush sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $81.46, for a total transaction of $81,460.00. Following the sale, the director now directly owns 34,496 shares of the company’s stock, valued at approximately $2,810,044.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.90% of the stock is 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 brand names. Its stores primarily offer 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 for households with moderate income.
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