TimesSquare Capital Management LLC cut its stake in Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 1.4% in the third quarter, HoldingsChannel.com reports. The fund owned 608,020 shares of the apparel retailer’s stock after selling 8,810 shares during the period. Ross Stores accounts for 1.4% of TimesSquare Capital Management LLC’s holdings, making the stock its 19th biggest position. TimesSquare Capital Management LLC’s holdings in Ross Stores were worth $91,513,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in ROST. Legacy Capital Wealth Partners LLC grew its position in Ross Stores by 4.5% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 5,589 shares of the apparel retailer’s stock worth $841,000 after purchasing an additional 242 shares during the period. Del Sette Capital Management LLC boosted its stake in shares of Ross Stores by 4.6% in the 3rd quarter. Del Sette Capital Management LLC now owns 10,031 shares of the apparel retailer’s stock worth $1,510,000 after buying an additional 444 shares during the last quarter. Kerusso Capital Management LLC grew its holdings in shares of Ross Stores by 6.5% in the third quarter. Kerusso Capital Management LLC now owns 14,526 shares of the apparel retailer’s stock worth $2,186,000 after acquiring an additional 881 shares during the period. Bridges Investment Management Inc. increased its position in Ross Stores by 7.5% during the third quarter. Bridges Investment Management Inc. now owns 2,641 shares of the apparel retailer’s stock valued at $397,000 after acquiring an additional 185 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Ross Stores during the third quarter valued at $156,000. 86.86% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Robert W. Baird boosted their price objective on shares of Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. TD Cowen upped their price objective on Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Bank of America lifted their target price on Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley upped their price target on Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $171.88.
Ross Stores Trading Up 1.0 %
Ross Stores stock opened at $143.40 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05. The firm’s 50 day moving average price is $147.21 and its 200-day moving average price is $143.80. Ross Stores, Inc. has a 1 year low of $119.73 and a 1 year high of $163.60. The stock has a market cap of $47.57 billion, a P/E ratio of 23.13, a PEG ratio of 2.25 and a beta of 1.09.
Ross Stores (NASDAQ:ROST – Get Free Report) last announced its quarterly earnings results 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 net margin of 9.82% and a return on equity of 42.43%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same period in the previous year, the firm posted $1.32 EPS. Ross Stores’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Ross Stores, Inc. will post 6.2 earnings per share for the current fiscal year.
Ross Stores Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were paid a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Tuesday, September 10th. Ross Stores’s payout ratio is presently 23.71%.
Insider Activity at Ross Stores
In related news, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the completion of the transaction, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at approximately $48,003,532.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the sale, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at $16,038,546.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the sale, the chief executive officer now owns 311,853 shares in the company, valued at approximately $48,003,532.29. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,138 shares of company stock valued at $11,093,051. 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.
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