Ross Stores, Inc. $ROST Holdings Lessened by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 59.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,100 shares of the apparel retailer’s stock after selling 25,123 shares during the quarter. Sterling Capital Management LLC’s holdings in Ross Stores were worth $3,991,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ROST. Virtus Advisers LLC bought a new stake in Ross Stores during the 2nd quarter valued at $38,000. Twin Lakes Capital Management LLC acquired a new position in Ross Stores during the second quarter worth $41,000. Bell Investment Advisors Inc acquired a new position in Ross Stores during the second quarter worth $43,000. BOK Financial Private Wealth Inc. bought a new position in shares of Ross Stores in the second quarter valued at $44,000. Finally, Elevation Wealth Partners LLC lifted its stake in shares of Ross Stores by 402.4% in the second quarter. Elevation Wealth Partners LLC now owns 211 shares of the apparel retailer’s stock valued at $45,000 after buying an additional 169 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Ross Stores from $265.00 to $285.00 and gave the company a “buy” rating in a report on Friday, August 21st. Wall Street Zen lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research upgraded shares of Ross Stores from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Evercore set a $290.00 price target on shares of Ross Stores in a research report on Friday, August 21st. Finally, Citigroup lifted their price target on Ross Stores from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.61.

Ross Stores Trading Down 3.1%

Shares of Ross Stores stock opened at $229.30 on Friday. The company has a market capitalization of $73.25 billion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 1.93 and a beta of 0.83. The stock has a fifty day simple moving average of $231.44 and a 200 day simple moving average of $230.04. Ross Stores, Inc. has a 12-month low of $156.41 and a 12-month high of $257.00. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.71. The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the business earned $1.56 EPS. On average, sell-side analysts anticipate that Ross Stores, Inc. will post 8.15 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th were issued a $0.4450 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. Ross Stores’s dividend payout ratio is currently 21.55%.

Insider Activity

In related news, insider Stephen C. Brinkley sold 6,424 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the transaction, the insider directly owned 51,665 shares in the company, valued at approximately $11,865,383.90. The trade was a 11.06% 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 link. Also, CEO James Conroy sold 49,205 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $229.48, for a total transaction of $11,291,563.40. Following the completion of the sale, the chief executive officer directly owned 134,349 shares of the company’s stock, valued at $30,830,408.52. The trade was a 26.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.10% of the company’s stock.

About Ross Stores

Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.

Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.

Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.