Oakbrook Investments LLC Has $26 Million Stake in Ross Stores, Inc. (ROST)
Oakbrook Investments LLC reduced its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 8.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,450 shares of the apparel retailer’s stock after selling 2,900 shares during the period. Oakbrook Investments LLC’s holdings in Ross Stores were worth $2,006,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new position in Ross Stores during the third quarter worth approximately $301,000. Conning Inc. increased its position in Ross Stores by 2.8% in the third quarter. Conning Inc. now owns 10,032 shares of the apparel retailer’s stock worth $645,000 after buying an additional 270 shares during the period. Rehmann Capital Advisory Group bought a new position in Ross Stores during the third quarter worth approximately $215,000. Great West Life Assurance Co. Can increased its position in Ross Stores by 1.6% in the third quarter. Great West Life Assurance Co. Can now owns 528,315 shares of the apparel retailer’s stock worth $33,964,000 after buying an additional 8,285 shares during the period. Finally, Shell Asset Management Co. increased its position in Ross Stores by 3.3% in the third quarter. Shell Asset Management Co. now owns 75,870 shares of the apparel retailer’s stock worth $4,878,000 after buying an additional 2,412 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.
Ross Stores, Inc. (NASDAQ:ROST) traded up 0.08% during midday trading on Friday, reaching $64.71. 1,096,712 shares of the company were exchanged. The firm’s 50-day moving average price is $65.53 and its 200 day moving average price is $65.89. The stock has a market capitalization of $25.36 billion, a price-to-earnings ratio of 22.87 and a beta of 0.94. Ross Stores, Inc. has a 52-week low of $52.00 and a 52-week high of $69.81.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Tuesday, February 28th. The apparel retailer reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Ross Stores had a return on equity of 42.09% and a net margin of 8.58%. The firm had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. Equities analysts predict that Ross Stores, Inc. will post $3.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 10th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $0.64 dividend on an annualized basis and a yield of 0.99%. This is an increase from Ross Stores’s previous quarterly dividend of $0.14. Ross Stores’s dividend payout ratio is currently 19.85%.
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Several brokerages have issued reports on ROST. Royal Bank of Canada set a $68.00 price objective on shares of Ross Stores and gave the stock a “hold” rating in a research report on Thursday, January 5th. Deutsche Bank AG raised their price objective on shares of Ross Stores from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, January 18th. Zacks Investment Research downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Monday, January 23rd. Susquehanna Bancshares Inc began coverage on shares of Ross Stores in a research report on Friday, February 10th. They set a “positive” rating and a $80.00 price objective on the stock. Finally, Telsey Advisory Group raised their price objective on shares of Ross Stores from $70.00 to $77.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 1st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $69.61.
In other Ross Stores news, VP Michael J. Hartshorn sold 9,585 shares of the stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $66.94, for a total transaction of $641,619.90. Following the transaction, the vice president now owns 67,686 shares in the company, valued at $4,530,900.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Michael Balmuth sold 51,207 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $67.29, for a total value of $3,445,719.03. Following the transaction, the chairman now owns 145,666 shares in the company, valued at approximately $9,801,865.14. The disclosure for this sale can be found here. Insiders sold 192,294 shares of company stock worth $12,793,360 in the last 90 days. 2.40% of the stock is currently owned by corporate insiders.
About Ross Stores
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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