Ross Stores, Inc. (NASDAQ:ROST) continues to experience fluctuations in the stock market as shareholders keep adjusting their holdings following a previous quarter that beat analysts’ expectations. According to the Securities & Exchange Commission, State of New Jersey Common Pension Fund D has reduced its stake in Ross Stores by 1.3% in the fourth quarter, indicating that other stakeholders may similarly be reconsidering their position. The firm owned 206,044 shares of the apparel retailer’s stock after selling 2,734 shares during the period; however, they still retain ownership of 0.06% worth $23,916,000.
Nonetheless, there is optimism for investors looking at the company’s performance data from recently released quarterly earnings reports which shows that Ross Stores reported impressive earnings exceeding analyst estimates ($1.31 EPS), by $0.08 per share amidst increased revenues ($5.21 billion) compared to last year’s revenue during the same period ($5.14 billion). This trend continued into this fiscal year with rumors circulating among equity research analysts predicting stronger quarters ahead with expected post earnings of about 4.94 per share for the current fiscal year.
Interestingly enough over recent weeks publicly available insider trading information from exchanges shows key officials at Ross Stores have sold significant amounts of their holdings in transactions (namely COO Michael J Hartshorn and CAO Jeffrey P Burrill). The completed sales range between $345292-$2m with proceeds going towards charitable donations or reinvestments elsewhere.
Overall while these transactions may indicate reduction in holdings from early investor players as well as insiders’ continuous disposals it doesn’t necessarily mean anything negative for Ross Stores Inc’s long-term performance or growth prospects as there are several factors that can account for such an outcome in any given circumstance – any regulation change could influence outlooks amongst potential owners; even competitors can issue surprise setbacks including supply chain disruptions resulting from increased weather volatility in the past year or short-term impact of changes in foreign trade agreements. Ultimately, the unique dynamic nature of the equity markets where new information is evaluated and integrated into prices means Ross Stores and any other investment vehicle is always worth keeping a close eye on.
Hedge Funds and Institutions Invest in Ross Stores Inc. as Quarterly Dividends Rise
Ross Stores Inc. has recently attracted a number of hedge fund and institutional investors who bought new stakes in the company during the fourth quarter, which sold at $25,000 to $30,000 worth of shares each. Accurate Wealth Management LLC purchased a new stake in Ross Stores at around $25,000 while Core Alternative Capital raised its holdings by purchasing an additional 120 shares in Q3 worth $27,000. Arlington Partners LLC and Capital Directions Investment Advisors LLC also bought shares during Q4 valued at about $28,000 and $30,000 respectively. Meanwhile, Hexagon Capital Partners LLC increased its holdings by 132.1% during Q3 valued at around $37,000 after buying an additional 247 shares.
Ross Stores operates as an apparel retailer with a market cap totaling$35.63 billion traded on NASDAQ ROST opened at $104.18 on Tuesday. The firm’s share currently trades at a price-to-earnings ratio of 23.73 with a P/E/G ratio of 2.02 and beta of 0.97 having recorded both its lowest level for the year and achieved its highest peak in the last year as detailed by public records that have marked out share values over time including a 52-week low of $69.24 and high of $122.44.
Insider trading activity for Ross Stores shows that COO Michael J Hartshorn sold a total of 20,529 shares accounting for over$2 million while CAO Jeffrey P Burril sold 3297 shares worth roughly about $345k in March alone Company insiders currently own approximately 1 .9% of the company’s overall stock.
Ross Stores’ most recent announcement involves increasing quarterly dividends paid out to shareholders from amounting to $.031 per share to $.0335 per share; record holders will receive their payouts on April14th However this shift is not likely to influence analysts’ projections of its performance. Deutsche Bank cut Ross Stores’ target price from $121 to $120, while several others like Loop Capital, Credit Suisse Group,and JP Morgan Chase issued “buy” ratings earlier this year. Currently, the firm has earned an average rating of “moderate buy” with a projected stock target price set at $120.53 as per data drawn from Bloomberg’s most current evaluations of different industry leaders.
