Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 7.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,513 shares of the apparel retailer’s stock after selling 3,900 shares during the period. State of Alaska Department of Revenue’s holdings in Ross Stores were worth $6,825,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Ross Stores in the 4th quarter valued at approximately $523,185,000. First Trust Advisors LP grew its stake in shares of Ross Stores by 515.8% in the 4th quarter. First Trust Advisors LP now owns 1,756,881 shares of the apparel retailer’s stock valued at $243,135,000 after purchasing an additional 1,471,585 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Ross Stores by 1,437.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,026,367 shares of the apparel retailer’s stock valued at $142,039,000 after purchasing an additional 959,594 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Ross Stores in the 4th quarter valued at approximately $102,083,000. Finally, Wellington Management Group LLP grew its stake in shares of Ross Stores by 19.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,121,854 shares of the apparel retailer’s stock valued at $465,563,000 after purchasing an additional 673,670 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Insider Transactions at Ross Stores

In related news, Director Patricia H. Mueller sold 941 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total value of $130,206.17. Following the transaction, the director now owns 973 shares in the company, valued at $134,634.01. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

ROST has been the subject of several recent analyst reports. UBS Group raised their price target on Ross Stores from $145.00 to $147.00 and gave the company a “neutral” rating in a report on Friday, May 24th. Telsey Advisory Group reissued a “market perform” rating and issued a $160.00 price target on shares of Ross Stores in a report on Friday, June 14th. The Goldman Sachs Group raised their price target on Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. BMO Capital Markets raised their price target on Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. raised their price target on Ross Stores from $150.00 to $163.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Ross Stores presently has an average rating of “Moderate Buy” and a consensus price target of $159.06.

Ross Stores Trading Down 0.3 %

ROST stock traded down $0.40 during trading on Wednesday, reaching $144.00. 1,170,433 shares of the stock traded hands, compared to its average volume of 2,301,809. The business’s 50 day moving average price is $139.13 and its 200-day moving average price is $140.58. Ross Stores, Inc. has a 52-week low of $107.30 and a 52-week high of $151.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.03. The firm has a market capitalization of $48.03 billion, a PE ratio of 24.28, a P/E/G ratio of 2.55 and a beta of 1.08.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Ross Stores, Inc. will post 5.97 earnings per share for the current year.

Ross Stores announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 5th that permits the company to buyback $2.10 billion in outstanding shares. This buyback authorization permits the apparel retailer to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were given a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Tuesday, June 11th. Ross Stores’s payout ratio is 24.79%.

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 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.