Gateway Investment Advisers LLC Lowers Holdings in Ross Stores, Inc. (ROST)
Gateway Investment Advisers LLC decreased its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 4.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 56,967 shares of the apparel retailer’s stock after selling 2,615 shares during the period. Gateway Investment Advisers LLC’s holdings in Ross Stores were worth $4,572,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Balentine LLC raised its holdings in Ross Stores by 0.3% during the second quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock worth $102,000 after buying an additional 5 shares during the last quarter. Zions Bancorporation raised its holdings in Ross Stores by 338.9% during the third quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock worth $137,000 after buying an additional 1,637 shares during the last quarter. Sit Investment Associates Inc. raised its holdings in Ross Stores by 255.1% during the fourth quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock worth $152,000 after buying an additional 1,365 shares during the last quarter. Sun Life Financial INC raised its holdings in Ross Stores by 20,314.3% during the second quarter. Sun Life Financial INC now owns 2,858 shares of the apparel retailer’s stock worth $165,000 after buying an additional 2,844 shares during the last quarter. Finally, Trellis Advisors LLC acquired a new position in Ross Stores during the fourth quarter worth $205,000. Hedge funds and other institutional investors own 91.44% of the company’s stock.
ROST has been the topic of several research reports. Morgan Stanley upped their price objective on shares of Ross Stores from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. Telsey Advisory Group upped their target price on shares of Ross Stores from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. BidaskClub upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Jefferies Group set a $66.00 target price on shares of Ross Stores and gave the stock a “hold” rating in a research note on Saturday, November 18th. Finally, Royal Bank of Canada set a $62.00 target price on shares of Ross Stores and gave the stock a “hold” rating in a research note on Monday, October 30th. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $74.19.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.05. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.26 billion. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. equities analysts forecast that Ross Stores, Inc. will post 3.29 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were given a dividend of $0.16 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 0.76%. Ross Stores’s payout ratio is currently 20.45%.
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.
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