Coho Partners Ltd. trimmed its holdings in shares of Ross Stores (NASDAQ:ROST) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,228,700 shares of the apparel retailer’s stock after selling 37,581 shares during the quarter. Ross Stores comprises 2.5% of Coho Partners Ltd.’s portfolio, making the stock its 24th biggest holding. Coho Partners Ltd. owned 0.32% of Ross Stores worth $95,814,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Cerebellum GP LLC acquired a new stake in shares of Ross Stores in the fourth quarter valued at about $132,000. Ballew Advisors Inc acquired a new stake in shares of Ross Stores in the first quarter valued at about $134,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Ross Stores in the fourth quarter valued at about $159,000. Financial Gravity Companies Inc. acquired a new stake in shares of Ross Stores in the fourth quarter valued at about $164,000. Finally, Certified Advisory Corp acquired a new stake in shares of Ross Stores in the fourth quarter valued at about $185,000. 90.21% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on ROST shares. BidaskClub downgraded Ross Stores from a “buy” rating to a “hold” rating in a research report on Thursday, April 12th. Zacks Investment Research downgraded Ross Stores from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. Wells Fargo reaffirmed a “buy” rating and issued a $86.00 price target (down from $91.00) on shares of Ross Stores in a research report on Wednesday, March 7th. Cowen set a $85.00 price target on Ross Stores and gave the company a “buy” rating in a research report on Tuesday, March 6th. Finally, Deutsche Bank set a $92.00 price target on Ross Stores and gave the company a “buy” rating in a research report on Wednesday, March 7th. Seven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $81.95.
Ross Stores opened at $83.43 on Friday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.64 and a quick ratio of 0.78. Ross Stores has a twelve month low of $83.07 and a twelve month high of $84.50. The stock has a market capitalization of $31.34 billion, a P/E ratio of 24.98, a P/E/G ratio of 2.05 and a beta of 1.06.
Ross Stores (NASDAQ:ROST) last released its earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.05. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.95 billion. sell-side analysts anticipate that Ross Stores will post 4.03 earnings per share for the current year.
Ross Stores declared that its Board of Directors has approved a share repurchase program on Tuesday, March 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the apparel retailer to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Ross Stores news, CEO Barbara Rentler sold 15,000 shares of the firm’s stock in a transaction dated Thursday, April 12th. The shares were sold at an average price of $78.25, for a total transaction of $1,173,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael J. Hartshorn sold 3,361 shares of the firm’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $76.94, for a total transaction of $258,595.34. Following the transaction, the vice president now owns 79,158 shares of the company’s stock, valued at approximately $6,090,416.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 256,652 shares of company stock valued at $19,829,016. 2.30% of the stock is owned by corporate insiders.
Ross Stores Profile
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 in the United States. It 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.
Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores (NASDAQ:ROST).
Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.