Keel Point buys $2.3 Million stake in Ross Stores (ROST)

Ross Stores (ROST) : Keel Point scooped up 1,371 additional shares in Ross Stores during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 41,427 shares of Ross Stores which is valued at $2.3 Million.Ross Stores makes up approximately 1.14% of Keel Point’s portfolio.

Other Hedge Funds, Including , Harfst Associates boosted its stake in ROST in the latest quarter, The investment management firm added 3,762 additional shares and now holds a total of 5,556 shares of Ross Stores which is valued at $317,081. Ross Stores makes up approx 0.20% of Harfst Associates’s portfolio.Boston Financial Mangement Inc reduced its stake in ROST by selling 6,717 shares or 4.57% in the most recent quarter. The Hedge Fund company now holds 140,140 shares of ROST which is valued at $8 Million. Ross Stores makes up approx 1.19% of Boston Financial Mangement Inc’s portfolio.American Century Companies Inc reduced its stake in ROST by selling 392,804 shares or 14.62% in the most recent quarter. The Hedge Fund company now holds 2,293,565 shares of ROST which is valued at $130.9 Million. Ross Stores makes up approx 0.15% of American Century Companies Inc’s portfolio.First Mercantile Trust Co reduced its stake in ROST by selling 5,874 shares or 29.36% in the most recent quarter. The Hedge Fund company now holds 14,130 shares of ROST which is valued at $802,301. Ross Stores makes up approx 0.10% of First Mercantile Trust Co’s portfolio.

Ross Stores opened for trading at $53.29 and hit $53.88 on the upside on Wednesday, eventually ending the session at $53.41, with a gain of 0.09% or 0.05 points. The heightened volatility saw the trading volume jump to 29,01,017 shares. Company has a market cap of $21,433 M.

On the company’s financial health, Ross Stores reported $0.73 EPS for the quarter, based on the information available during the earnings call on May 19, 2016. Analyst had a consensus estimate of $0.73. The company had revenue of $3089.00 million for the quarter, compared to analysts expectations of $3115.64 million. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS.

Investors should note that on May 18, 2016, Ross Stores announced a cash dividend of $0.1350. The company’s management has announced Jun 3, 2016 as the ex-dividend date and fixed the record date on Jun 7, 2016. The payable date has been fixed on Jun 30, 2016.

Many Wall Street Analysts have commented on Ross Stores. Shares were Reiterated by Wedbush on May 20, 2016 to “Outperform” and Lowered the Price Target to $ 62 from a previous price target of $63 .Shares were Reiterated by RBC Capital Mkts on May 20, 2016 to “Sector Perform” and Lowered the Price Target to $ 56 from a previous price target of $58 .Ross Stores was Downgraded by Piper Jaffray to ” Underweight” on May 11, 2016.

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 1210 Ross locations in 33 states the District of Columbia and Guam and 152 dd’s DISCOUNTS stores in 15 states. The Ross and dd’s DISCOUNTS stores are supported by five distribution centers. The Ross brand stores offers its products at savings of 20% to 60% off department and specialty store regular prices every day. Ross’ target customers are primarily from middle income households. The dd’s DISCOUNTS stores offers its products at savings of 20% to 70% off moderate department and discount store regular prices every day. Its target customers typically come from households with moderate incomes.

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