Texas Permanent School Fund Corp Cuts Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Texas Permanent School Fund Corp reduced its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 0.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 69,610 shares of the apparel retailer’s stock after selling 325 shares during the period. Texas Permanent School Fund Corp’s holdings in Ross Stores were worth $10,216,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in Ross Stores during the 1st quarter worth approximately $535,000. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Ross Stores by 133.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 23,595 shares of the apparel retailer’s stock valued at $3,463,000 after purchasing an additional 13,484 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Ross Stores in the first quarter valued at approximately $2,399,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Ross Stores by 6.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,603 shares of the apparel retailer’s stock valued at $235,000 after purchasing an additional 100 shares in the last quarter. Finally, Whittier Trust Co. grew its position in shares of Ross Stores by 11.0% in the first quarter. Whittier Trust Co. now owns 1,200 shares of the apparel retailer’s stock valued at $176,000 after purchasing an additional 119 shares in the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Stock Up 0.7 %

NASDAQ:ROST traded up $0.99 during trading hours on Friday, hitting $151.79. The company’s stock had a trading volume of 107,243 shares, compared to its average volume of 2,253,030. The stock has a fifty day moving average of $141.36 and a 200-day moving average of $141.05. The stock has a market capitalization of $50.63 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 2.59 and a beta of 1.08. Ross Stores, Inc. has a 52-week low of $108.35 and a 52-week high of $152.66. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.11. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.83 billion. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 earnings per share. On average, equities analysts forecast that Ross Stores, Inc. will post 5.97 earnings per share for the current year.

Ross Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were paid a dividend of $0.3675 per share. The ex-dividend date was Tuesday, June 11th. This represents a $1.47 annualized dividend and a dividend yield of 0.97%. Ross Stores’s dividend payout ratio (DPR) is 24.79%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group upped their price objective on Ross Stores from $145.00 to $147.00 and gave the company a “neutral” rating in a report on Friday, May 24th. Barclays upped their price objective on Ross Stores from $163.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, May 24th. TD Cowen upped their price objective on Ross Stores from $173.00 to $176.00 and gave the company a “buy” rating in a report on Friday, May 24th. StockNews.com upgraded Ross Stores from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Telsey Advisory Group restated a “market perform” rating and set a $160.00 price target on shares of Ross Stores in a research note on Friday, June 14th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and an average price target of $159.06.

Insider Transactions at Ross Stores

In related news, Director Patricia H. Mueller sold 941 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total value of $130,206.17. Following the completion of the sale, the director now owns 973 shares in the company, valued at $134,634.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

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.