Renaissance Group LLC Buys 1,871 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Renaissance Group LLC raised its stake in Ross Stores, Inc. (NASDAQ:ROSTGet Rating) by 0.8% during the 4th quarter, Holdings Channel reports. The fund owned 250,127 shares of the apparel retailer’s stock after acquiring an additional 1,871 shares during the period. Renaissance Group LLC’s holdings in Ross Stores were worth $28,585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ROST. Equitec Proprietary Markets LLC bought a new position in shares of Ross Stores during the fourth quarter worth approximately $26,000. First Horizon Advisors Inc. increased its holdings in shares of Ross Stores by 607.9% during the third quarter. First Horizon Advisors Inc. now owns 538 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 462 shares during the period. Kozak & Associates Inc. bought a new position in shares of Ross Stores during the third quarter worth approximately $45,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Ross Stores during the third quarter worth approximately $46,000. Finally, MUFG Americas Holdings Corp increased its holdings in shares of Ross Stores by 1,600.0% during the fourth quarter. MUFG Americas Holdings Corp now owns 425 shares of the apparel retailer’s stock worth $49,000 after purchasing an additional 400 shares during the period. 87.02% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently commented on ROST. Telsey Advisory Group cut shares of Ross Stores from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $145.00 to $80.00 in a report on Friday. BMO Capital Markets reduced their price target on shares of Ross Stores from $116.00 to $99.00 in a research report on Friday. Credit Suisse Group reduced their price target on shares of Ross Stores from $125.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday. Robert W. Baird reduced their price target on shares of Ross Stores from $115.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, OTR Global lowered shares of Ross Stores to a “positive” rating in a research report on Wednesday, May 4th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $107.88.

Ross Stores stock traded down $20.83 during mid-day trading on Friday, reaching $71.87. The company had a trading volume of 34,528,552 shares, compared to its average volume of 3,362,106. The company has a market cap of $25.25 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.84 and a beta of 0.92. The business has a fifty day simple moving average of $95.92 and a 200 day simple moving average of $101.16. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60. Ross Stores, Inc. has a fifty-two week low of $69.75 and a fifty-two week high of $127.58.

Ross Stores (NASDAQ:ROSTGet Rating) last issued its quarterly earnings results on Thursday, May 19th. The apparel retailer reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.03). The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.54 billion. Ross Stores had a return on equity of 44.17% and a net margin of 9.11%. Ross Stores’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 EPS. Research analysts forecast that Ross Stores, Inc. will post 5.04 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Tuesday, June 7th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, June 6th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.73%. Ross Stores’s dividend payout ratio (DPR) is presently 25.51%.

Ross Stores declared that its Board of Directors has approved a share repurchase program on Tuesday, March 1st that allows the company to buyback $1.90 billion in outstanding shares. This buyback authorization allows the apparel retailer to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Ross Stores Company Profile (Get Rating)

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

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