Checchi Capital Advisers LLC Has $411,000 Position in Ross Stores, Inc. (ROST)

Checchi Capital Advisers LLC lowered its stake in Ross Stores, Inc. (NASDAQ:ROST) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,412 shares of the apparel retailer’s stock after selling 191 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Ross Stores were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Ross Stores by 7.7% during the 4th quarter. BlackRock Inc. now owns 28,069,263 shares of the apparel retailer’s stock valued at $2,335,364,000 after buying an additional 2,017,295 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Ross Stores by 8,178.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,859,040 shares of the apparel retailer’s stock valued at $167,000 after buying an additional 13,691,631 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Ross Stores by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 6,088,490 shares of the apparel retailer’s stock valued at $505,856,000 after buying an additional 456,445 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Ross Stores by 3.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,670,826 shares of the apparel retailer’s stock valued at $471,814,000 after buying an additional 165,920 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Ross Stores by 4.8% during the 4th quarter. Northern Trust Corp now owns 4,723,002 shares of the apparel retailer’s stock valued at $392,954,000 after buying an additional 215,020 shares during the last quarter. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

ROST opened at $94.51 on Friday. Ross Stores, Inc. has a twelve month low of $75.91 and a twelve month high of $104.35. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 0.82. The company has a market capitalization of $34.73 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.08 and a beta of 0.89.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.01. Ross Stores had a return on equity of 49.58% and a net margin of 10.60%. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the previous year, the company earned $1.11 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts expect that Ross Stores, Inc. will post 4.5 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Monday, June 10th. Ross Stores’s dividend payout ratio is currently 23.94%.

Ross Stores declared that its Board of Directors has approved a stock buyback program on Tuesday, March 5th that allows the company to repurchase $2.55 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

ROST has been the subject of several research reports. Loop Capital lifted their price target on Ross Stores to $105.00 and gave the company a “buy” rating in a report on Thursday, January 24th. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a report on Wednesday. Guggenheim reiterated a “buy” rating and set a $105.00 price target on shares of Ross Stores in a report on Tuesday, March 5th. Zacks Investment Research upgraded Ross Stores from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Finally, DA Davidson lifted their price target on Ross Stores to $92.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $97.84.

In other Ross Stores news, insider Bernard G. Brautigan sold 12,000 shares of Ross Stores stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $91.18, for a total value of $1,094,160.00. Following the transaction, the insider now directly owns 174,450 shares of the company’s stock, valued at approximately $15,906,351. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Michael Balmuth sold 25,689 shares of Ross Stores stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $90.77, for a total value of $2,331,790.53. Following the completion of the transaction, the chairman now directly owns 51,998 shares in the company, valued at $4,719,858.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,054 shares of company stock worth $12,504,328. Company insiders own 2.30% of the company’s stock.

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

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