Empire Life Investments Inc. Has $41.69 Million Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Empire Life Investments Inc. trimmed its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 1.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 276,960 shares of the apparel retailer’s stock after selling 3,399 shares during the period. Ross Stores makes up about 2.5% of Empire Life Investments Inc.’s investment portfolio, making the stock its 9th biggest position. Empire Life Investments Inc.’s holdings in Ross Stores were worth $41,685,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Ross Stores

In other Ross Stores 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Barbara Rentler sold 48,885 shares of Ross Stores 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 directly owns 311,853 shares in the company, valued at $48,003,532.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,138 shares of company stock valued at $11,093,051 over the last three months. 2.10% of the stock is owned by corporate insiders.

Ross Stores Price Performance

ROST stock opened at $140.06 on Friday. The company has a market capitalization of $46.47 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 2.27 and a beta of 1.09. Ross Stores, Inc. has a 52-week low of $116.50 and a 52-week high of $163.60. The business has a 50-day simple moving average of $148.27 and a two-hundred day simple moving average of $143.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56.

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, topping the consensus estimate of $1.50 by $0.09. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 earnings per share. Research analysts expect that Ross Stores, Inc. will post 6.2 EPS for the current fiscal year.

Ross Stores Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on ROST. Loop Capital lifted their price target on shares of Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Bank of America boosted their price target on Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Gordon Haskett upgraded shares of Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. Morgan Stanley lifted their price objective on Ross Stores from $163.00 to $178.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Robert W. Baird raised 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. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.71.

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.