Credit Suisse AG Raises Position in Ross Stores, Inc. (ROST)

Credit Suisse AG raised its stake in Ross Stores, Inc. (NASDAQ:ROST) by 10.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 942,643 shares of the apparel retailer’s stock after buying an additional 90,392 shares during the period. Credit Suisse AG owned about 0.24% of Ross Stores worth $62,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Ross Stores by 3.5% in the first quarter. Vanguard Group Inc. now owns 35,460,595 shares of the apparel retailer’s stock valued at $2,335,790,000 after buying an additional 1,208,861 shares in the last quarter. BlackRock Inc. boosted its position in Ross Stores by 1,908.5% in the first quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock valued at $1,742,545,000 after buying an additional 25,137,186 shares in the last quarter. State Street Corp boosted its position in Ross Stores by 1.0% in the first quarter. State Street Corp now owns 17,886,365 shares of the apparel retailer’s stock valued at $1,178,183,000 after buying an additional 173,336 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Ross Stores by 1.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,295,824 shares of the apparel retailer’s stock valued at $612,317,000 after buying an additional 146,423 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Ross Stores by 29.2% in the first quarter. Ameriprise Financial Inc. now owns 5,151,764 shares of the apparel retailer’s stock valued at $339,347,000 after buying an additional 1,165,463 shares in the last quarter. 90.09% of the stock is currently owned by institutional investors and hedge funds.

Shares of Ross Stores, Inc. (ROST) traded down 0.45% during midday trading on Friday, reaching $54.87. The company had a trading volume of 2,102,600 shares. Ross Stores, Inc. has a 52 week low of $52.91 and a 52 week high of $69.81. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 18.80 and a beta of 1.12. The stock has a 50-day moving average of $56.73 and a 200 day moving average of $63.24.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Ross Stores had a return on equity of 42.56% and a net margin of 8.77%. The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts anticipate that Ross Stores, Inc. will post $3.16 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Tuesday, June 6th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 2nd. This represents a $0.64 annualized dividend and a yield of 1.17%. Ross Stores’s payout ratio is currently 21.92%.

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Several research analysts have weighed in on ROST shares. Royal Bank Of Canada set a $70.00 target price on Ross Stores and gave the company a “hold” rating in a research note on Monday, May 15th. Telsey Advisory Group upgraded Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research note on Friday, July 14th. They noted that the move was a valuation call. BMO Capital Markets set a $65.00 target price on Ross Stores and gave the company a “hold” rating in a research note on Thursday, July 6th. Jefferies Group LLC restated a “hold” rating and issued a $63.00 target price on shares of Ross Stores in a research note on Tuesday, May 16th. Finally, BidaskClub lowered Ross Stores from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $69.23.

In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the sale, the director now directly owns 4,967 shares of the company’s stock, valued at $314,063.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.

Ross Stores Company Profile

Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.

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

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