Bank of Hawaii Grows Position in Ross Stores, Inc. (ROST)

Bank of Hawaii lifted its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 21.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,605 shares of the apparel retailer’s stock after acquiring an additional 1,318 shares during the period. Bank of Hawaii’s holdings in Ross Stores were worth $754,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROST. Bessemer Group Inc. raised its stake in Ross Stores by 856.6% during the third quarter. Bessemer Group Inc. now owns 1,014 shares of the apparel retailer’s stock valued at $101,000 after buying an additional 908 shares during the last quarter. TRUE Private Wealth Advisors purchased a new position in Ross Stores during the third quarter valued at $115,000. NuWave Investment Management LLC raised its stake in Ross Stores by 168.7% during the second quarter. NuWave Investment Management LLC now owns 1,701 shares of the apparel retailer’s stock valued at $145,000 after buying an additional 1,068 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in Ross Stores by 81.5% during the second quarter. SRS Capital Advisors Inc. now owns 1,875 shares of the apparel retailer’s stock valued at $158,000 after buying an additional 842 shares during the last quarter. Finally, MUFG Americas Holdings Corp raised its stake in Ross Stores by 216.4% during the second quarter. MUFG Americas Holdings Corp now owns 1,924 shares of the apparel retailer’s stock valued at $163,000 after buying an additional 1,316 shares during the last quarter. Institutional investors own 88.44% of the company’s stock.

Shares of ROST opened at $80.36 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.61 and a quick ratio of 0.85. Ross Stores, Inc. has a one year low of $70.84 and a one year high of $104.35. The firm has a market capitalization of $30.48 billion, a P/E ratio of 24.06, a PEG ratio of 1.94 and a beta of 0.98.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Tuesday, November 20th. The apparel retailer reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.01. Ross Stores had a return on equity of 48.34% and a net margin of 10.68%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. Ross Stores’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts predict that Ross Stores, Inc. will post 4.2 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 7th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, December 6th. Ross Stores’s payout ratio is currently 26.95%.

In related news, CEO Barbara Rentler sold 20,000 shares of Ross Stores stock in a transaction on Friday, October 12th. The stock was sold at an average price of $95.15, for a total value of $1,903,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Norman A. Ferber sold 10,144 shares of Ross Stores stock in a transaction on Monday, August 27th. The stock was sold at an average price of $94.90, for a total value of $962,665.60. Following the completion of the sale, the director now directly owns 25,127 shares of the company’s stock, valued at approximately $2,384,552.30. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

ROST has been the subject of a number of recent research reports. Loop Capital lifted their price objective on Ross Stores from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 3rd. Goldman Sachs Group initiated coverage on Ross Stores in a research note on Monday, September 3rd. They set a “neutral” rating and a $104.00 price objective for the company. DA Davidson assumed coverage on Ross Stores in a research note on Tuesday, September 25th. They set a “neutral” rating and a $96.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on Ross Stores from $98.00 to $96.00 and set an “overweight” rating for the company in a research note on Friday, August 24th. Finally, Cowen set a $101.00 price target on Ross Stores and gave the stock a “buy” rating in a research note on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have issued a buy rating to the company. Ross Stores currently has an average rating of “Buy” and a consensus price target of $96.12.

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

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