Kentucky Retirement Systems Insurance Trust Fund Reduces Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,876 shares of the apparel retailer’s stock after selling 939 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Ross Stores were worth $1,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ross Stores during the 2nd quarter valued at about $27,000. SJS Investment Consulting Inc. raised its position in shares of Ross Stores by 262.1% in the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in shares of Ross Stores in the 2nd quarter valued at approximately $32,000. Armstrong Advisory Group Inc. bought a new stake in shares of Ross Stores during the third quarter valued at approximately $33,000. Finally, Crewe Advisors LLC grew its stake in Ross Stores by 97.8% in the second quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock worth $40,000 after purchasing an additional 136 shares during the period. Institutional investors own 86.86% of the company’s stock.

Analyst Upgrades and Downgrades

ROST has been the topic of a number of research reports. Loop Capital boosted their target price on shares of Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Citigroup lowered shares of Ross Stores from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $179.00 to $152.00 in a research note on Tuesday, November 12th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $175.00 target price on shares of Ross Stores in a research note on Tuesday, October 29th. Robert W. Baird boosted their price target on Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, UBS Group raised their price objective on Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.00.

Ross Stores Trading Down 1.2 %

Ross Stores stock opened at $140.69 on Friday. Ross Stores, Inc. has a 52-week low of $119.73 and a 52-week high of $163.60. The company has a market cap of $46.68 billion, a P/E ratio of 22.69, a P/E/G ratio of 2.31 and a beta of 1.09. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $146.18 and a two-hundred day simple moving average of $144.21.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the company earned $1.32 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. Analysts predict that Ross Stores, Inc. will post 6.11 EPS for the current year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were issued a $0.3675 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a yield of 1.04%. Ross Stores’s dividend payout ratio is currently 23.71%.

Insider Activity at Ross Stores

In related news, COO Michael J. Hartshorn sold 8,366 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now directly owns 103,049 shares in the company, valued at approximately $16,038,546.36. The trade was a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the sale, the chief executive officer now owns 311,853 shares in the company, valued at approximately $48,003,532.29. The trade was a 13.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,138 shares of company stock worth $11,093,051. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Company 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 brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company’s Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd’s DISCOUNTS stores sell its products at department and discount stores for households with moderate income.