Ross Stores, Inc. (ROST) Stake Raised by Pinebridge Investments L.P.

Pinebridge Investments L.P. grew its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 318.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 184,073 shares of the apparel retailer’s stock after buying an additional 140,127 shares during the quarter. Pinebridge Investments L.P.’s holdings in Ross Stores were worth $10,627,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its holdings in Ross Stores by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock worth $101,000 after purchasing an additional 10 shares during the last quarter. TrimTabs Asset Management LLC boosted its holdings in Ross Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock worth $108,000 after purchasing an additional 776 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Ross Stores by 39.1% in the first quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock worth $111,000 after purchasing an additional 478 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Ross Stores by 3.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock worth $108,000 after purchasing an additional 61 shares during the last quarter. Finally, Acrospire Investment Management LLC boosted its holdings in Ross Stores by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock worth $115,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 90.40% of the company’s stock.

In other Ross Stores news, CEO Barbara Rentler sold 15,492 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total transaction of $945,012.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

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Shares of Ross Stores, Inc. (NASDAQ ROST) traded up 0.48% during mid-day trading on Tuesday, hitting $61.10. 1,112,455 shares of the stock traded hands. The firm has a 50 day moving average of $57.60 and a 200 day moving average of $60.80. The stock has a market cap of $23.56 billion, a price-to-earnings ratio of 20.18 and a beta of 1.09. Ross Stores, Inc. has a 12 month low of $52.85 and a 12 month high of $69.81.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Ross Stores’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts expect that Ross Stores, Inc. will post $3.23 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 7th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, September 6th. Ross Stores’s dividend payout ratio is currently 21.12%.

Several equities research analysts recently issued reports on ROST shares. Zacks Investment Research upgraded shares of Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Wednesday, July 12th. MKM Partners raised their target price on shares of Ross Stores from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Instinet restated a “buy” rating and issued a $74.00 target price on shares of Ross Stores in a report on Sunday, August 20th. Bank of America Corporation restated a “buy” rating and issued a $80.00 target price on shares of Ross Stores in a report on Sunday, August 20th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $75.00 target price on shares of Ross Stores in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $69.74.

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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