Twin Capital Management Inc. boosted its position in Ross Stores, Inc. (NASDAQ:ROST) by 20.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,061 shares of the apparel retailer’s stock after buying an additional 12,133 shares during the period. Twin Capital Management Inc.’s holdings in Ross Stores were worth $4,615,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Nikko Asset Management Americas Inc. bought a new stake in shares of Ross Stores during the first quarter valued at about $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 period. 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 period. Finally, EP Wealth Advisors Inc. acquired a new position in Ross Stores during the third quarter valued at $201,000. Institutional investors and hedge funds own 90.32% of the company’s stock.
Shares of Ross Stores, Inc. (NASDAQ ROST) traded down 1.36% during mid-day trading on Friday, hitting $60.08. The company had a trading volume of 4,407,508 shares. Ross Stores, Inc. has a 12-month low of $52.75 and a 12-month high of $69.81. The firm’s 50 day moving average is $63.02 and its 200-day moving average is $65.62. The firm has a market cap of $23.38 billion, a PE ratio of 20.58 and a beta of 1.07.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. The business had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.27 billion. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. On average, equities analysts expect that Ross Stores, Inc. will post $3.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Tuesday, June 6th will be paid a $0.16 dividend. The ex-dividend date is Friday, June 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.07%. Ross Stores’s dividend payout ratio (DPR) is 21.92%.
TRADEMARK VIOLATION NOTICE: This piece was originally reported by Markets Daily and is the sole property of of Markets Daily. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.themarketsdaily.com/2017/06/16/twin-capital-management-inc-purchases-12133-shares-of-ross-stores-inc-rost-updated-updated.html.
Several research firms recently weighed in on ROST. Telsey Advisory Group increased their target price on Ross Stores from $70.00 to $77.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 1st. William Blair restated an “outperform” rating on shares of Ross Stores in a research note on Monday, May 22nd. Zacks Investment Research lowered Ross Stores from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. BMO Capital Markets upped their price target on Ross Stores from $65.00 to $72.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 1st. Finally, Jefferies Group LLC set a $63.00 price target on Ross Stores and gave the stock a “hold” rating in a research note on Thursday, April 6th. Twelve research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $69.82.
In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $63.23, for a total value of $1,019,899.90. Following the sale, the director now owns 4,967 shares in the company, valued at $314,063.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Barbara Rentler sold 50,481 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $66.10, for a total transaction of $3,336,794.10. Following the completion of the sale, the chief executive officer now owns 546,604 shares in the company, valued at approximately $36,130,524.40. The disclosure for this sale can be found here. Insiders sold 147,632 shares of company stock worth $9,725,921 over the last three months. 2.30% of the stock is currently owned by 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.
Receive News & Ratings for Ross Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores Inc. and related companies with MarketBeat.com's FREE daily email newsletter.