Canoe Financial LP Sells 12,426 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Canoe Financial LP decreased its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 2.3% in the 3rd quarter, Holdings Channel reports. The firm owned 526,323 shares of the apparel retailer’s stock after selling 12,426 shares during the quarter. Ross Stores accounts for about 1.9% of Canoe Financial LP’s portfolio, making the stock its 20th largest holding. Canoe Financial LP’s holdings in Ross Stores were worth $79,770,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in Ross Stores during the 2nd quarter worth approximately $27,000. SJS Investment Consulting Inc. increased its stake in shares of Ross Stores by 262.1% in the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in shares of Ross Stores in the 2nd quarter valued at $32,000. Armstrong Advisory Group Inc. bought a new stake in shares of Ross Stores in the 3rd quarter valued at $33,000. Finally, Crewe Advisors LLC increased its stake in shares of Ross Stores by 97.8% in the 2nd quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock valued at $40,000 after acquiring an additional 136 shares in the last quarter. Institutional investors own 86.86% of the company’s stock.

Ross Stores Trading Down 0.1 %

Shares of Ross Stores stock opened at $144.22 on Monday. Ross Stores, Inc. has a 52-week low of $112.39 and a 52-week high of $163.60. The stock’s 50-day simple moving average is $149.37 and its 200 day simple moving average is $143.48. The stock has a market capitalization of $48.11 billion, a P/E ratio of 24.32, a P/E/G ratio of 2.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the previous year, the business posted $1.32 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts anticipate that Ross Stores, Inc. will post 6.2 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Tuesday, September 10th. Ross Stores’s dividend payout ratio is presently 24.79%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Ross Stores from $163.00 to $178.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. TD Cowen boosted their price target on shares of Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Telsey Advisory Group boosted their price target on shares of Ross Stores from $160.00 to $175.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. StockNews.com raised shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Finally, Bank of America lifted their price objective on shares of Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $169.71.

Insider Activity

In other news, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the sale, the chief executive officer now directly owns 311,853 shares in the company, valued at $48,003,532.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the sale, the chief executive officer now directly owns 311,853 shares in the company, valued at $48,003,532.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the sale, the chief operating officer now owns 103,049 shares in the company, valued at approximately $16,038,546.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,138 shares of company stock worth $11,093,051 over the last ninety days. Company insiders own 2.10% of the company’s stock.

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.