Mitsubishi UFJ Trust & Banking Corp decreased its position in Ross Stores, Inc. (NASDAQ:ROST – Get Rating) by 6.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 190,837 shares of the apparel retailer’s stock after selling 13,705 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Ross Stores worth $13,402,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Ross Stores during the 2nd quarter valued at $98,000. Lazard Asset Management LLC boosted its stake in shares of Ross Stores by 26.0% during the 2nd quarter. Lazard Asset Management LLC now owns 827,471 shares of the apparel retailer’s stock valued at $58,111,000 after buying an additional 170,820 shares during the period. Shell Asset Management Co. boosted its stake in shares of Ross Stores by 3.9% during the 2nd quarter. Shell Asset Management Co. now owns 17,882 shares of the apparel retailer’s stock valued at $1,256,000 after buying an additional 674 shares during the period. Duality Advisers LP acquired a new stake in shares of Ross Stores during the 2nd quarter valued at $3,282,000. Finally, Willis Investment Counsel boosted its stake in shares of Ross Stores by 1.1% during the 2nd quarter. Willis Investment Counsel now owns 62,949 shares of the apparel retailer’s stock valued at $4,421,000 after buying an additional 681 shares during the period. Institutional investors and hedge funds own 87.65% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on ROST shares. Robert W. Baird lifted their target price on shares of Ross Stores from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, August 19th. UBS Group lifted their price objective on shares of Ross Stores from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, August 19th. Loop Capital lifted their price objective on shares of Ross Stores from $80.00 to $85.00 in a research note on Friday, August 19th. StockNews.com started coverage on shares of Ross Stores in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group started coverage on shares of Ross Stores in a research note on Tuesday, August 2nd. They issued a “buy” rating and a $102.00 price objective for the company. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $102.78.
Ross Stores Stock Down 1.3 %
Ross Stores (NASDAQ:ROST – Get Rating) last issued its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.13. Ross Stores had a net margin of 7.97% and a return on equity of 36.36%. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The firm’s revenue was down 4.6% compared to the same quarter last year. As a group, equities research analysts predict that Ross Stores, Inc. will post 3.99 earnings per share for the current fiscal year.
Ross Stores Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Tuesday, December 6th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.28%. Ross Stores’s payout ratio is 29.45%.
About Ross Stores
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 brand names. Its stores primarily offer 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 for households with moderate income.
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