PNC Financial Services Group Inc. lowered its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 2.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 614,127 shares of the apparel retailer’s stock after selling 17,903 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ross Stores were worth $60,860,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ROST. Bessemer Group Inc. boosted its stake in shares of Ross Stores by 856.6% in the third quarter. Bessemer Group Inc. now owns 1,014 shares of the apparel retailer’s stock valued at $101,000 after purchasing an additional 908 shares during the period. TRUE Private Wealth Advisors bought a new position in Ross Stores during the 3rd quarter valued at $115,000. NuWave Investment Management LLC boosted its stake in Ross Stores by 168.7% during the 2nd quarter. NuWave Investment Management LLC now owns 1,701 shares of the apparel retailer’s stock valued at $145,000 after acquiring an additional 1,068 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in Ross Stores by 81.5% during the 2nd quarter. SRS Capital Advisors Inc. now owns 1,875 shares of the apparel retailer’s stock valued at $158,000 after acquiring an additional 842 shares during the last quarter. Finally, MUFG Americas Holdings Corp boosted its stake in Ross Stores by 216.4% during the 2nd quarter. MUFG Americas Holdings Corp now owns 1,924 shares of the apparel retailer’s stock valued at $163,000 after acquiring an additional 1,316 shares during the last quarter. 88.44% of the stock is owned by institutional investors.
ROST stock opened at $81.63 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.61. Ross Stores, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $104.35. The stock has a market capitalization of $30.48 billion, a P/E ratio of 24.44, a PEG ratio of 1.94 and a beta of 0.98.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 7th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.90 annualized dividend and a yield of 1.10%. Ross Stores’s payout ratio is 26.95%.
A number of research analysts have commented on the stock. Zacks Investment Research downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. Loop Capital set a $100.00 price objective on shares of Ross Stores and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley reduced their price objective on shares of Ross Stores from $99.00 to $94.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Cowen set a $110.00 price objective on shares of Ross Stores and gave the company a “buy” rating in a research note on Tuesday. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Ross Stores has a consensus rating of “Buy” and a consensus target price of $96.12.
In other Ross Stores news, Director Norman A. Ferber sold 10,144 shares of the firm’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $94.90, for a total value of $962,665.60. Following the completion of the transaction, the director now directly owns 25,127 shares in the company, valued at $2,384,552.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Barbara Rentler sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 12th. The stock was sold at an average price of $95.15, for a total transaction of $1,903,000.00. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.
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Ross Stores Company Profile
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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