Ross Stores, Inc. $ROST Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 6.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,134,590 shares of the apparel retailer’s stock after selling 140,346 shares during the period. Bank of New York Mellon Corp’s holdings in Ross Stores were worth $272,331,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. MQS Management LLC purchased a new stake in shares of Ross Stores during the 1st quarter worth about $630,000. China Universal Asset Management Co. Ltd. lifted its position in Ross Stores by 50.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 8,149 shares of the apparel retailer’s stock valued at $1,041,000 after buying an additional 2,750 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in Ross Stores by 59.9% during the second quarter. Pallas Capital Advisors LLC now owns 7,591 shares of the apparel retailer’s stock worth $968,000 after buying an additional 2,843 shares during the period. HighTower Advisors LLC increased its position in shares of Ross Stores by 26.6% in the first quarter. HighTower Advisors LLC now owns 19,734 shares of the apparel retailer’s stock worth $2,522,000 after acquiring an additional 4,152 shares in the last quarter. Finally, Credit Agricole S A increased its position in shares of Ross Stores by 98.4% in the first quarter. Credit Agricole S A now owns 104,200 shares of the apparel retailer’s stock worth $13,316,000 after acquiring an additional 51,692 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on ROST shares. UBS Group upped their price target on shares of Ross Stores from $144.00 to $147.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Citigroup upped their target price on Ross Stores from $146.00 to $171.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Morgan Stanley increased their target price on Ross Stores from $128.00 to $130.00 and gave the company an “equal weight” rating in a research note on Friday, August 22nd. Cowen reiterated a “buy” rating on shares of Ross Stores in a report on Friday, August 22nd. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $160.00 price target (up previously from $150.00) on shares of Ross Stores in a report on Monday, August 18th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Ross Stores presently has a consensus rating of “Moderate Buy” and an average target price of $162.67.

Insider Buying and Selling at Ross Stores

In related news, insider Stephen C. Brinkley sold 6,437 shares of the business’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $150.97, for a total transaction of $971,793.89. Following the completion of the sale, the insider owned 57,012 shares of the company’s stock, valued at $8,607,101.64. This represents a 10.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Karen Fleming sold 2,932 shares of the stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $149.09, for a total transaction of $437,131.88. Following the sale, the chief marketing officer owned 88,335 shares in the company, valued at approximately $13,169,865.15. This trade represents a 3.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,720 shares of company stock worth $7,761,212 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Ross Stores Stock Up 0.6%

NASDAQ:ROST opened at $162.23 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58. The company has a market capitalization of $52.76 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 3.04 and a beta of 1.18. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $162.74. The stock has a 50-day simple moving average of $152.44 and a 200 day simple moving average of $143.84.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.02. The company had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.54 billion. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.Ross Stores’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.59 EPS. Sell-side analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a dividend of $0.405 per share. The ex-dividend date was Tuesday, September 9th. This represents a $1.62 annualized dividend and a yield of 1.0%. Ross Stores’s payout ratio is presently 25.71%.

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.