Today: Today: Daiwa Securities Group Inc. Boosts Position in Ross Stores Inc. (ROST)

Today: Daiwa Securities Group Inc. Boosts Position in Ross Stores Inc. (ROST)

Daiwa Securities Group Inc. boosted its stake in shares of Ross Stores Inc. (NASDAQ:ROST) by 5.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,850 shares of the apparel retailer’s stock after buying an additional 3,450 shares during the period. Daiwa Securities Group Inc.’s holdings in Ross Stores were worth $4,042,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ROST. Evercore Wealth Management LLC increased its stake in shares of Ross Stores by 29.1% in the second quarter. Evercore Wealth Management LLC now owns 1,929 shares of the apparel retailer’s stock valued at $109,000 after buying an additional 435 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of Ross Stores by 166.1% in the third quarter. Advisory Services Network LLC now owns 2,549 shares of the apparel retailer’s stock valued at $164,000 after buying an additional 1,591 shares in the last quarter. Carroll Financial Associates Inc. increased its stake in shares of Ross Stores by 0.7% in the second quarter. Carroll Financial Associates Inc. now owns 2,605 shares of the apparel retailer’s stock valued at $147,000 after buying an additional 17 shares in the last quarter. Independent Portfolio Consultants Inc. bought a new stake in shares of Ross Stores during the second quarter valued at $151,000. Finally, NN Investment Partners Holdings N.V. increased its stake in shares of Ross Stores by 12.4% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,712 shares of the apparel retailer’s stock valued at $154,000 after buying an additional 300 shares in the last quarter. 87.68% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Inc. (NASDAQ:ROST) traded down 0.38% during mid-day trading on Monday, reaching $68.78. 1,151,640 shares of the company traded hands. The stock has a 50-day moving average of $64.09 and a 200 day moving average of $60.30. The stock has a market capitalization of $26.88 billion, a PE ratio of 25.29 and a beta of 0.94. Ross Stores Inc. has a 52-week low of $50.42 and a 52-week high of $69.81.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.06. Ross Stores had a net margin of 8.58% and a return on equity of 42.09%. The company had revenue of $3.10 billion for the quarter. During the same period last year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts expect that Ross Stores Inc. will post $2.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, December 7th will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Monday, December 5th. Ross Stores’s dividend payout ratio (DPR) is presently 19.85%.

ROST has been the topic of a number of analyst reports. Bank of America Corp. set a $70.00 target price on Ross Stores and gave the company a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research cut Ross Stores from a “buy” rating to a “hold” rating in a research report on Thursday, October 6th. Wedbush raised their target price on Ross Stores from $65.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, August 19th. Royal Bank Of Canada raised their target price on Ross Stores from $56.00 to $65.00 and gave the company a “sector perform” rating in a research report on Friday, August 19th. Finally, Citigroup Inc. raised their target price on Ross Stores from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, August 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the stock. Ross Stores presently has a consensus rating of “Hold” and a consensus target price of $67.39.

In other Ross Stores news, Director Gregory L. Quesnel sold 16,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $64.39, for a total value of $1,030,240.00. Following the sale, the director now owns 19,370 shares of the company’s stock, valued at $1,247,234.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Barbara Rentler sold 12,840 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $63.76, for a total transaction of $818,678.40. Following the completion of the sale, the chief executive officer now directly owns 542,851 shares in the company, valued at approximately $34,612,179.76. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.

Ross Stores Company Profile

Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.

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