Rafferty Asset Management LLC Has $3.15 Million Position in Ross Stores, Inc. (ROST)

Rafferty Asset Management LLC increased its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 45.9% during the third quarter, Holdings Channel reports. The fund owned 31,754 shares of the apparel retailer’s stock after acquiring an additional 9,996 shares during the quarter. Rafferty Asset Management LLC’s holdings in Ross Stores were worth $3,147,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in Ross Stores by 33.8% during the third quarter. JPMorgan Chase & Co. now owns 13,907,770 shares of the apparel retailer’s stock worth $1,378,259,000 after acquiring an additional 3,512,781 shares during the last quarter. Massachusetts Financial Services Co. MA boosted 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 last quarter. Northern Trust Corp boosted 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 last quarter. Wells Fargo & Company MN boosted 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 last quarter. Finally, American Century Companies Inc. boosted 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 last quarter. Hedge funds and other institutional investors own 88.44% of the company’s stock.

In related news, CEO Barbara Rentler sold 20,000 shares of Ross Stores stock in a transaction on Friday, October 12th. The shares were sold at an average price of $95.15, for a total transaction of $1,903,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub lowered shares of Ross Stores from a “hold” rating to a “sell” rating in a research report on Friday. Loop Capital set a $100.00 price target on shares of Ross Stores and gave the company a “buy” rating in a report on Tuesday, November 20th. ValuEngine lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Friday. Finally, Nomura decreased their price target on shares of Ross Stores from $101.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, November 21st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seventeen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $96.12.

Shares of ROST stock opened at $80.36 on Monday. Ross Stores, Inc. has a 52 week low of $70.84 and a 52 week high of $104.35. The company has a current ratio of 1.61, a quick ratio of 0.73 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $30.00 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 1.91 and a beta of 0.98.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Tuesday, November 20th. The apparel retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.01. Ross Stores had a net margin of 10.68% and a return on equity of 48.34%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts expect that Ross Stores, Inc. will post 4.2 earnings per share for the current year.

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

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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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