New York State Teachers Retirement System Sells 6,258 Shares of Ross Stores, Inc. (NASDAQ:ROST)

New York State Teachers Retirement System decreased its position in Ross Stores, Inc. (NASDAQ:ROST) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 267,409 shares of the apparel retailer’s stock after selling 6,258 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Ross Stores worth $40,248,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in Ross Stores in the 2nd quarter worth $27,000. SJS Investment Consulting Inc. increased its stake in shares of Ross Stores by 262.1% in the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 152 shares during the period. Industrial Alliance Investment Management Inc. acquired a new position in shares of Ross Stores during the 2nd quarter worth about $32,000. Armstrong Advisory Group Inc. bought a new stake in Ross Stores during the 3rd quarter valued at approximately $33,000. Finally, Crewe Advisors LLC grew its holdings in Ross Stores by 97.8% in the 2nd quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock valued at $40,000 after buying an additional 136 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ROST. Bank of America upped their price target on Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Morgan Stanley increased their price target on shares of Ross Stores from $163.00 to $178.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Gordon Haskett upgraded shares of Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. UBS Group upped their price objective on shares of Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company lifted their target price on Ross Stores from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.71.

Insider Activity at Ross Stores

In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $155.64, for a total value of $1,302,084.24. Following the transaction, the chief operating officer now owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the sale, the chief operating officer now owns 103,049 shares in the company, valued at approximately $16,038,546.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael Balmuth sold 14,887 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the transaction, the chairman now owns 11,133 shares in the company, valued at $1,694,665.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,138 shares of company stock valued at $11,093,051 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Stock Performance

Ross Stores stock opened at $139.59 on Thursday. The firm has a market capitalization of $46.31 billion, a P/E ratio of 22.51, a P/E/G ratio of 2.34 and a beta of 1.09. The stock has a fifty day moving average price of $148.82 and a two-hundred day moving average price of $143.50. Ross Stores, Inc. has a 52-week low of $114.06 and a 52-week high of $163.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping 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 quarter last year, the company posted $1.32 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, analysts anticipate that Ross Stores, Inc. will post 6.2 EPS for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were given a dividend of $0.3675 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a yield of 1.05%. Ross Stores’s dividend payout ratio (DPR) is presently 23.71%.

About Ross Stores

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.