Summit Trail Advisors LLC Raises Position in Ross Stores, Inc. (ROST)

Summit Trail Advisors LLC boosted its stake in Ross Stores, Inc. (NASDAQ:ROST) by 8,064.5% in the 1st quarter, Holdings Channel reports. The firm owned 139,287 shares of the apparel retailer’s stock after acquiring an additional 137,581 shares during the quarter. Summit Trail Advisors LLC’s holdings in Ross Stores were worth $139,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Virtu Financial LLC acquired a new position in Ross Stores in the 4th quarter valued at approximately $367,000. Bbva Compass Bancshares Inc. increased its position in Ross Stores by 15.8% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 5,355 shares of the apparel retailer’s stock valued at $430,000 after acquiring an additional 730 shares during the period. Mackenzie Financial Corp acquired a new position in Ross Stores in the 4th quarter valued at approximately $297,000. Amalgamated Bank increased its position in Ross Stores by 7.9% in the 4th quarter. Amalgamated Bank now owns 50,018 shares of the apparel retailer’s stock valued at $4,014,000 after acquiring an additional 3,654 shares during the period. Finally, Lazard Asset Management LLC increased its position in Ross Stores by 5.8% in the 4th quarter. Lazard Asset Management LLC now owns 1,429,167 shares of the apparel retailer’s stock valued at $114,689,000 after acquiring an additional 77,770 shares during the period. 88.01% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Barbara Rentler sold 15,000 shares of the stock in a transaction on Thursday, April 12th. The shares were sold at an average price of $78.25, for a total transaction of $1,173,750.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Lisa R. Panattoni sold 12,471 shares of the stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $79.48, for a total transaction of $991,195.08. Following the transaction, the insider now directly owns 93,711 shares in the company, valued at $7,448,150.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 296,169 shares of company stock worth $24,914,591. 2.30% of the stock is owned by insiders.

Several equities analysts have issued reports on the stock. BMO Capital Markets restated a “hold” rating and issued a $78.00 price target on shares of Ross Stores in a research report on Wednesday, March 7th. Jefferies Financial Group restated a “hold” rating and issued a $73.00 price target on shares of Ross Stores in a research report on Wednesday, March 7th. BidaskClub upgraded shares of Ross Stores from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 5th. Morgan Stanley increased their price objective on shares of Ross Stores from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 7th. Finally, Deutsche Bank began coverage on shares of Ross Stores in a research report on Monday, April 30th. They set a “buy” rating and a $94.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Ross Stores currently has a consensus rating of “Buy” and an average price target of $85.04.

Shares of NASDAQ ROST opened at $85.10 on Friday. The firm has a market cap of $32.16 billion, a P/E ratio of 25.48, a P/E/G ratio of 2.11 and a beta of 1.06. Ross Stores, Inc. has a 12-month low of $52.85 and a 12-month high of $87.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 1.64.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, May 24th. The apparel retailer reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.54 billion. Ross Stores had a net margin of 10.13% and a return on equity of 46.48%. Ross Stores’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 earnings per share. equities research analysts predict that Ross Stores, Inc. will post 4.05 earnings per share for the current fiscal year.

Ross Stores declared that its board has authorized a share repurchase plan on Tuesday, March 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Tuesday, June 12th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.06%. The ex-dividend date is Monday, June 11th. Ross Stores’s dividend payout ratio is presently 26.95%.

Ross Stores Company Profile

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 brands in the United States. It primarily offers 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 regular prices to customers from households with moderate income.

Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST).

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

Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply