ICICI Prudential Asset Management Co Ltd Raises Holdings in Ross Stores, Inc. (NASDAQ:ROST)

ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 18.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,354 shares of the apparel retailer’s stock after acquiring an additional 671 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Ross Stores were worth $655,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Ross Stores in the second quarter worth about $27,000. SJS Investment Consulting Inc. boosted its position in Ross Stores by 262.1% during the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in Ross Stores in the second quarter valued at approximately $32,000. Armstrong Advisory Group Inc. acquired a new stake in Ross Stores in the third quarter valued at approximately $33,000. Finally, Crewe Advisors LLC increased its position in shares of Ross Stores by 97.8% in the second quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock valued at $40,000 after buying an additional 136 shares in the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Barbara Rentler sold 48,885 shares of the firm’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 completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Barbara Rentler sold 48,885 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the completion of the transaction, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Michael Balmuth sold 14,887 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $152.22, for a total value of $2,266,099.14. Following the completion of the sale, the chairman now directly owns 11,133 shares in the company, valued at approximately $1,694,665.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,138 shares of company stock worth $11,093,051. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ROST shares. Telsey Advisory Group reissued a “market perform” rating and issued a $175.00 price target on shares of Ross Stores in a research note on Tuesday, October 29th. Robert W. Baird lifted their target price 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. Wells Fargo & Company boosted their target price on shares of Ross Stores from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Bank of America raised their price target on shares of Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Loop Capital lifted their price objective on Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ross Stores presently has an average rating of “Moderate Buy” and a consensus price target of $170.63.

Ross Stores Trading Up 0.3 %

Shares of ROST traded up $0.48 during midday trading on Wednesday, reaching $140.79. The company had a trading volume of 370,549 shares, compared to its average volume of 2,618,167. Ross Stores, Inc. has a 1-year low of $119.73 and a 1-year high of $163.60. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $146.82 and a 200-day simple moving average of $144.08. The stock has a market cap of $46.71 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 2.31 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.09. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. Ross Stores’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $1.32 earnings per share. Research analysts forecast that Ross Stores, Inc. will post 6.12 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were issued a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Tuesday, September 10th. Ross Stores’s dividend payout ratio is presently 23.71%.

Ross Stores 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.