Ross Stores, Inc. (ROST) Position Lifted by Renaissance Group LLC

Renaissance Group LLC increased its position in Ross Stores, Inc. (NASDAQ:ROST) by 7.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 483,095 shares of the apparel retailer’s stock after acquiring an additional 32,651 shares during the quarter. Renaissance Group LLC owned about 0.13% of Ross Stores worth $31,193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Ross Stores by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 36,146,781 shares of the apparel retailer’s stock worth $2,086,753,000 after acquiring an additional 686,186 shares during the period. Principal Financial Group Inc. raised its holdings in Ross Stores by 13.1% in the 3rd quarter. Principal Financial Group Inc. now owns 7,332,752 shares of the apparel retailer’s stock worth $473,476,000 after acquiring an additional 849,789 shares during the period. Ameriprise Financial Inc. raised its holdings in Ross Stores by 5.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,424,201 shares of the apparel retailer’s stock worth $313,116,000 after acquiring an additional 272,437 shares during the period. Bank of New York Mellon Corp raised its holdings in Ross Stores by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,265,781 shares of the apparel retailer’s stock worth $340,012,000 after acquiring an additional 85,983 shares during the period. Finally, Flossbach Von Storch AG grew its position in Ross Stores by 7,335.3% in the 2nd quarter. Flossbach Von Storch AG now owns 5,000,270 shares of the apparel retailer’s stock worth $288,666,000 after purchasing an additional 4,933,020 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Several analysts have issued reports on ROST shares. Instinet restated a “buy” rating and issued a $74.00 price target on shares of Ross Stores in a research report on Sunday, August 20th. Morgan Stanley raised their price target on shares of Ross Stores from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday. Zacks Investment Research lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Telsey Advisory Group raised their price target on shares of Ross Stores from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Credit Suisse Group restated a “neutral” rating and issued a $64.00 price target (down from $70.00) on shares of Ross Stores in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. Ross Stores presently has a consensus rating of “Buy” and a consensus target price of $73.71.

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In other Ross Stores news, insider Brian R. Morrow sold 6,157 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total value of $402,052.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Barbara Rentler sold 15,492 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total transaction of $945,012.00. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Ross Stores, Inc. (NASDAQ:ROST) traded up $0.49 during trading hours on Tuesday, reaching $72.74. 4,161,600 shares of the company’s stock were exchanged, compared to its average volume of 2,963,784. The firm has a market capitalization of $28,050.00, a price-to-earnings ratio of 23.08, a PEG ratio of 2.20 and a beta of 1.09. Ross Stores, Inc. has a 52-week low of $52.85 and a 52-week high of $73.94. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.68 and a current ratio of 1.57.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.05. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.26 billion. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 earnings per share. analysts expect that Ross Stores, Inc. will post 3.28 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.88%. Ross Stores’s dividend payout ratio (DPR) is presently 20.45%.

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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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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