North Point Portfolio Managers Corp OH Decreases Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

North Point Portfolio Managers Corp OH lowered its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,973 shares of the apparel retailer’s stock after selling 1,591 shares during the period. Ross Stores comprises 2.5% of North Point Portfolio Managers Corp OH’s holdings, making the stock its 15th largest position. North Point Portfolio Managers Corp OH’s holdings in Ross Stores were worth $14,237,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American International Group Inc. boosted its position in Ross Stores by 2.4% in the fourth quarter. American International Group Inc. now owns 124,424 shares of the apparel retailer’s stock worth $17,219,000 after purchasing an additional 2,969 shares during the last quarter. PGGM Investments lifted its position in shares of Ross Stores by 724.1% during the 2nd quarter. PGGM Investments now owns 24,848 shares of the apparel retailer’s stock valued at $3,611,000 after buying an additional 21,833 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Ross Stores by 93.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 14,593 shares of the apparel retailer’s stock valued at $2,019,000 after buying an additional 7,033 shares during the last quarter. Commerce Bank lifted its position in shares of Ross Stores by 232.6% during the 4th quarter. Commerce Bank now owns 32,182 shares of the apparel retailer’s stock valued at $4,454,000 after buying an additional 22,506 shares during the last quarter. Finally, National Pension Service lifted its position in shares of Ross Stores by 2.9% during the 4th quarter. National Pension Service now owns 782,739 shares of the apparel retailer’s stock valued at $108,323,000 after buying an additional 21,984 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Analyst Ratings Changes

ROST has been the topic of a number of recent research reports. Bank of America upped their price target on Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Telsey Advisory Group upped their price target on Ross Stores from $160.00 to $175.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Guggenheim upped their price target on Ross Stores from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Gordon Haskett raised Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, StockNews.com raised Ross Stores from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $169.71.

Insider Buying and Selling

In related news, CEO Barbara Rentler sold 48,885 shares of the business’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 value of $7,524,868.05. Following the completion of the sale, the chief executive officer now owns 311,853 shares in the company, valued at approximately $48,003,532.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is currently owned by corporate insiders.

Ross Stores Price Performance

Shares of Ross Stores stock traded down $1.19 on Friday, hitting $150.61. 2,287,787 shares of the company traded hands, compared to its average volume of 2,244,937. Ross Stores, Inc. has a 12-month low of $108.35 and a 12-month high of $163.60. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. The company has a market cap of $50.24 billion, a P/E ratio of 25.40, a P/E/G ratio of 2.17 and a beta of 1.08. The firm’s 50-day simple moving average is $145.68 and its 200 day simple moving average is $142.55.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter last year, the business posted $1.32 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts expect that Ross Stores, Inc. will post 5.97 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be given a $0.3675 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a yield of 0.98%. 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.