Daiwa Securities Group Inc. grew its stake in Ross Stores, Inc. (NASDAQ:ROST) by 53.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 19,619 shares of the apparel retailer’s stock after acquiring an additional 6,853 shares during the period. Daiwa Securities Group Inc.’s holdings in Ross Stores were worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in Ross Stores by 2.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,504,906 shares of the apparel retailer’s stock worth $545,537,000 after acquiring an additional 144,384 shares during the period. Northern Trust Corp increased its position in Ross Stores by 2.4% during the second quarter. Northern Trust Corp now owns 4,645,785 shares of the apparel retailer’s stock worth $393,730,000 after acquiring an additional 109,300 shares during the period. Wells Fargo & Company MN increased its position in Ross Stores by 15.4% during the second quarter. Wells Fargo & Company MN now owns 3,829,150 shares of the apparel retailer’s stock worth $324,521,000 after acquiring an additional 509,933 shares during the period. American Century Companies Inc. increased its position in Ross Stores by 13.1% during the second quarter. American Century Companies Inc. now owns 3,506,171 shares of the apparel retailer’s stock worth $297,148,000 after acquiring an additional 404,841 shares during the period. Finally, Bank of America Corp DE increased its position in Ross Stores by 7.8% during the second quarter. Bank of America Corp DE now owns 2,126,156 shares of the apparel retailer’s stock worth $180,192,000 after acquiring an additional 154,387 shares during the period. 88.33% of the stock is currently owned by institutional investors.
In other news, CEO Barbara Rentler sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 12th. The shares were sold at an average price of $95.15, for a total value of $1,903,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Norman A. Ferber sold 10,144 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $94.90, for a total transaction of $962,665.60. Following the completion of the sale, the director now owns 25,127 shares in the company, valued at $2,384,552.30. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
Shares of Ross Stores stock opened at $102.76 on Friday. The stock has a market cap of $38.36 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 2.48 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.71. Ross Stores, Inc. has a 12-month low of $63.56 and a 12-month high of $104.35.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 23rd. The apparel retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.66 billion. Ross Stores had a net margin of 10.41% and a return on equity of 47.56%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. On average, analysts predict that Ross Stores, Inc. will post 4.12 EPS for the current fiscal year.
A number of equities analysts recently commented on ROST shares. BidaskClub lowered shares of Ross Stores from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 3rd. Zacks Investment Research lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. SunTrust Banks raised their price target on shares of Ross Stores to $103.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Loop Capital raised their price target on shares of Ross Stores from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 3rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Ross Stores from $98.00 to $96.00 and set an “overweight” rating on the stock in a research report on Friday, August 24th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $96.04.
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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 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.
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