Assenagon Asset Management S.A. lifted its stake in Ross Stores, Inc. (NASDAQ:ROST) by 2,982.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,573 shares of the apparel retailer’s stock after purchasing an additional 75,056 shares during the period. Assenagon Asset Management S.A.’s holdings in Ross Stores were worth $6,612,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC increased its stake in Ross Stores by 1,003.6% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 309 shares of the apparel retailer’s stock worth $27,000 after buying an additional 281 shares in the last quarter. Bartlett & Co. LLC purchased a new stake in Ross Stores in the 1st quarter worth $39,000. Ancora Advisors LLC purchased a new stake in Ross Stores in the 4th quarter worth $42,000. Bainco International Investors purchased a new stake in Ross Stores in the 1st quarter worth $43,000. Finally, Capital Square LLC purchased a new stake in Ross Stores in the 1st quarter worth $46,000. Hedge funds and other institutional investors own 84.83% of the company’s stock.
ROST has been the subject of a number of analyst reports. Morgan Stanley reiterated a “buy” rating and issued a $105.00 price target on shares of Ross Stores in a research note on Monday, April 27th. Nomura Securities dropped their price objective on shares of Ross Stores from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, March 31st. Bank of America reissued a “buy” rating and set a $110.00 price objective (up previously from $105.00) on shares of Ross Stores in a report on Friday, May 22nd. Nomura Instinet dropped their price objective on shares of Ross Stores from $100.00 to $97.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Finally, Wells Fargo & Co increased their price objective on shares of Ross Stores from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. Ross Stores presently has a consensus rating of “Buy” and an average price target of $108.85.
Shares of ROST stock opened at $87.74 on Friday. The firm has a market cap of $31.23 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 5.16 and a beta of 0.80. The company’s 50 day moving average is $90.23 and its 200 day moving average is $97.45. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.75. Ross Stores, Inc. has a 52-week low of $56.30 and a 52-week high of $124.16.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, May 21st. The apparel retailer reported ($0.87) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.86). The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Ross Stores had a net margin of 6.63% and a return on equity of 35.71%. The business’s quarterly revenue was down 51.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 earnings per share. Analysts anticipate that Ross Stores, Inc. will post 1.68 EPS for the current fiscal year.
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. Its stores 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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