American International Group Inc. Sells 2,316 Shares of Ross Stores, Inc. (NASDAQ:ROST)

American International Group Inc. decreased its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,108 shares of the apparel retailer’s stock after selling 2,316 shares during the quarter. American International Group Inc.’s holdings in Ross Stores were worth $17,921,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ROST. Norges Bank acquired a new position in shares of Ross Stores during the fourth quarter worth $523,185,000. First Trust Advisors LP raised its position in Ross Stores by 515.8% during the 4th quarter. First Trust Advisors LP now owns 1,756,881 shares of the apparel retailer’s stock worth $243,135,000 after purchasing an additional 1,471,585 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in Ross Stores by 1,437.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,026,367 shares of the apparel retailer’s stock worth $142,039,000 after buying an additional 959,594 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of Ross Stores in the 4th quarter valued at about $102,083,000. Finally, Wellington Management Group LLP increased its stake in shares of Ross Stores by 14.6% in the fourth quarter. Wellington Management Group LLP now owns 4,722,885 shares of the apparel retailer’s stock valued at $653,600,000 after buying an additional 601,031 shares during the period. Institutional investors own 86.86% of the company’s stock.

Ross Stores Trading Down 1.2 %

Ross Stores stock traded down $1.69 during mid-day trading on Wednesday, hitting $142.09. The company’s stock had a trading volume of 1,939,796 shares, compared to its average volume of 2,265,507. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.03. The stock has a market cap of $47.40 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 2.54 and a beta of 1.08. The business has a 50 day moving average price of $143.75 and a 200-day moving average price of $141.66. Ross Stores, Inc. has a 12 month low of $108.35 and a 12 month high of $153.06.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.11. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. As a group, analysts forecast that Ross Stores, Inc. will post 5.97 EPS for the current year.

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were issued a $0.3675 dividend. The ex-dividend date was Tuesday, June 11th. This represents a $1.47 annualized dividend and a yield of 1.03%. Ross Stores’s dividend payout ratio (DPR) is presently 24.79%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Guggenheim boosted their price target on shares of Ross Stores from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. StockNews.com raised Ross Stores from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. TD Cowen increased their target price on Ross Stores from $173.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, May 24th. 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. Finally, Barclays raised their price objective on shares of Ross Stores from $163.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $159.06.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, Director Patricia H. Mueller sold 941 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total value of $130,206.17. Following the completion of the transaction, the director now owns 973 shares in the company, valued at $134,634.01. The transaction was disclosed in a 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.