Ross Stores, Inc. (ROST) Shares Sold by Turner Investments LLC
Turner Investments LLC decreased its stake in Ross Stores, Inc. (NASDAQ:ROST) by 72.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the apparel retailer’s stock after selling 38,870 shares during the period. Turner Investments LLC’s holdings in Ross Stores were worth $988,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of ROST. TrimTabs Asset Management LLC increased its position in Ross Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock valued at $108,000 after buying an additional 776 shares during the last quarter. Nikko Asset Management Americas Inc. acquired a new position in Ross Stores during the first quarter valued at $112,000. Advisory Services Network LLC acquired a new position in Ross Stores during the first quarter valued at $171,000. Alpha Windward LLC increased its position in Ross Stores by 0.8% in the first quarter. Alpha Windward LLC now owns 2,974 shares of the apparel retailer’s stock valued at $196,000 after buying an additional 23 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its position in Ross Stores by 16.1% in the first quarter. Carroll Financial Associates Inc. now owns 3,025 shares of the apparel retailer’s stock valued at $199,000 after buying an additional 420 shares during the last quarter. 90.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ross Stores, Inc. (NASDAQ ROST) traded down 1.36% on Friday, hitting $60.08. 4,407,508 shares of the stock were exchanged. The firm has a market capitalization of $23.38 billion, a PE ratio of 20.58 and a beta of 1.07. The company has a 50-day moving average price of $63.02 and a 200-day moving average price of $65.62. Ross Stores, Inc. has a one year low of $52.75 and a one year high of $69.81.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.80 by $0.02. The business had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.27 billion. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. Ross Stores’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 EPS. Equities research analysts expect that Ross Stores, Inc. will post $3.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Tuesday, June 6th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, June 2nd. Ross Stores’s payout ratio is 21.92%.
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ROST has been the topic of several research reports. Royal Bank Of Canada set a $70.00 price objective on shares of Ross Stores and gave the stock a “hold” rating in a report on Monday, April 3rd. Zacks Investment Research upgraded shares of Ross Stores from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. Northcoast Research restated a “neutral” rating on shares of Ross Stores in a report on Wednesday, March 1st. Citigroup Inc. downgraded shares of Ross Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, March 1st. They noted that the move was a valuation call. Finally, Morgan Stanley restated an “overweight” rating and set a $69.00 price objective on shares of Ross Stores in a report on Monday, May 22nd. Twelve analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $69.82.
In related news, insider Lisa R. Panattoni sold 14,792 shares of Ross Stores stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $66.88, for a total transaction of $989,288.96. Following the completion of the sale, the insider now owns 151,432 shares of the company’s stock, valued at approximately $10,127,772.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John G. Call sold 15,243 shares of Ross Stores stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $65.83, for a total transaction of $1,003,446.69. Following the sale, the vice president now directly owns 156,572 shares of the company’s stock, valued at approximately $10,307,134.76. The disclosure for this sale can be found here. Insiders have sold a total of 147,632 shares of company stock valued at $9,725,921 in the last ninety days. 2.30% of the stock is currently owned by insiders.
Ross Stores Company Profile
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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