Triangle Securities Wealth Management Sells 135 Shares of Ross Stores, Inc. $ROST

Triangle Securities Wealth Management reduced its position in Ross Stores, Inc. (NASDAQ:ROST) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,797 shares of the apparel retailer’s stock after selling 135 shares during the period. Triangle Securities Wealth Management’s holdings in Ross Stores were worth $867,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Ross Stores by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 34,121,706 shares of the apparel retailer’s stock valued at $4,360,413,000 after buying an additional 4,946,101 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Ross Stores by 59.3% during the first quarter. EdgePoint Investment Group Inc. now owns 4,055,088 shares of the apparel retailer’s stock worth $518,200,000 after purchasing an additional 1,509,815 shares in the last quarter. Nuveen LLC bought a new stake in Ross Stores in the 1st quarter worth approximately $122,043,000. GAMMA Investing LLC lifted its position in Ross Stores by 16,435.4% in the 1st quarter. GAMMA Investing LLC now owns 806,099 shares of the apparel retailer’s stock worth $103,011,000 after buying an additional 801,224 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in Ross Stores by 184.4% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,080,532 shares of the apparel retailer’s stock worth $138,081,000 after buying an additional 700,546 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ROST has been the subject of several recent research reports. UBS Group boosted their price objective on Ross Stores from $144.00 to $147.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Barclays upped their target price on Ross Stores from $156.00 to $164.00 and gave the company an “overweight” rating in a report on Friday, August 22nd. Robert W. Baird upped their price target on Ross Stores from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, August 22nd. Loop Capital reduced their price target on Ross Stores from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. Finally, Morgan Stanley raised their price target on Ross Stores from $128.00 to $130.00 and gave the company an “equal weight” rating in a report on Friday, August 22nd. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.67.

Insider Activity at Ross Stores

In other news, CMO Karen Sykes sold 4,000 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $151.76, for a total value of $607,040.00. Following the transaction, the chief marketing officer owned 106,413 shares of the company’s stock, valued at $16,149,236.88. This trade represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by company insiders.

Ross Stores Trading Down 0.4%

Shares of NASDAQ:ROST opened at $146.09 on Friday. The stock has a market capitalization of $47.51 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 2.82 and a beta of 1.15. 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 stock’s 50-day simple moving average is $143.54 and its two-hundred day simple moving average is $138.43. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $158.69.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.02. The business had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $1.59 earnings per share. Analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $1.62 annualized dividend and a dividend yield of 1.1%. Ross Stores’s dividend payout ratio (DPR) is 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.