Toroso Investments LLC lowered its holdings in Ross Stores, Inc. (NASDAQ:ROST – Get Rating) by 24.1% in the third quarter, Holdings Channel reports. The firm owned 16,898 shares of the apparel retailer’s stock after selling 5,371 shares during the quarter. Toroso Investments LLC’s holdings in Ross Stores were worth $1,424,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Core Alternative Capital increased its position in Ross Stores by 59.7% during the third quarter. Core Alternative Capital now owns 321 shares of the apparel retailer’s stock worth $27,000 after acquiring an additional 120 shares during the period. CoreCap Advisors LLC bought a new position in Ross Stores in the 2nd quarter valued at about $34,000. Hexagon Capital Partners LLC increased its holdings in Ross Stores by 132.1% in the 3rd quarter. Hexagon Capital Partners LLC now owns 434 shares of the apparel retailer’s stock valued at $37,000 after buying an additional 247 shares during the period. Twin Lakes Capital Management LLC bought a new position in Ross Stores in the 3rd quarter valued at about $43,000. Finally, Private Trust Co. NA bought a new position in Ross Stores in the 2nd quarter valued at about $46,000. Institutional investors own 89.07% of the company’s stock.
Insider Buying and Selling
In other Ross Stores news, COO Michael J. Hartshorn sold 20,529 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $112.37, for a total transaction of $2,306,843.73. Following the transaction, the chief operating officer now directly owns 127,659 shares in the company, valued at $14,345,041.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is owned by company insiders.
Ross Stores Stock Down 1.1 %
Ross Stores (NASDAQ:ROST – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The apparel retailer reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.08. The company had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Ross Stores had a net margin of 8.09% and a return on equity of 36.40%. Ross Stores’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 earnings per share. Sell-side analysts predict that Ross Stores, Inc. will post 4.91 EPS for the current fiscal year.
Ross Stores Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Tuesday, March 14th will be given a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 1.31%. This is a boost from Ross Stores’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Monday, March 13th. Ross Stores’s dividend payout ratio is 30.52%.
Analysts Set New Price Targets
Several brokerages recently issued reports on ROST. The Goldman Sachs Group lifted their price target on shares of Ross Stores from $119.00 to $134.00 and gave the company a “buy” rating in a report on Monday, December 12th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Ross Stores from $121.00 to $120.00 in a research report on Wednesday, March 1st. Robert W. Baird boosted their price target on shares of Ross Stores from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 1st. Credit Suisse Group reiterated an “outperform” rating and set a $123.00 target price on shares of Ross Stores in a research report on Wednesday, March 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ross Stores from $112.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, November 18th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $118.59.
Ross Stores Profile
Ross Stores, Inc engages in the operation of off-price retail apparel and home accessories stores. Its products include branded and designer apparel, accessories, footwear, and home fashions through the Dress for Less and dd’s DISCOUNTS brands. The company was founded by Stuart G. Moldaw in 1957 and is headquartered in Dublin, CA.
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