First Financial Bank Trust Division Lowers Holdings in Ross Stores, Inc. $ROST

by · The Cerbat Gem

First Financial Bank Trust Division decreased its stake in Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 6.4% during the second quarter, Holdings Channel reports. The institutional investor owned 40,590 shares of the apparel retailer’s stock after selling 2,770 shares during the quarter. First Financial Bank Trust Division’s holdings in Ross Stores were worth $5,178,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Ross Stores by 17.0% during the first quarter. Vanguard Group Inc. now owns 34,121,706 shares of the apparel retailer’s stock worth $4,360,413,000 after purchasing an additional 4,946,101 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in Ross Stores by 59.3% during the first quarter. EdgePoint Investment Group Inc. now owns 4,055,088 shares of the apparel retailer’s stock worth $518,200,000 after purchasing an additional 1,509,815 shares in the last quarter. Invesco Ltd. boosted its position in Ross Stores by 5.0% during the first quarter. Invesco Ltd. now owns 3,997,575 shares of the apparel retailer’s stock worth $510,850,000 after purchasing an additional 192,148 shares in the last quarter. Royal Bank of Canada boosted its position in Ross Stores by 69.6% during the fourth quarter. Royal Bank of Canada now owns 3,336,312 shares of the apparel retailer’s stock worth $504,684,000 after purchasing an additional 1,368,571 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Ross Stores by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,912,392 shares of the apparel retailer’s stock worth $372,134,000 after purchasing an additional 15,085 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Insider Buying and Selling

In related news, CMO Karen Sykes sold 4,000 shares of Ross Stores stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total transaction of $607,040.00. Following the transaction, the chief marketing officer owned 106,413 shares in the company, valued at approximately $16,149,236.88. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ROST. UBS Group increased their price target on Ross Stores from $144.00 to $147.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Cowen restated a “buy” rating on shares of Ross Stores in a research report on Friday, August 22nd. Morgan Stanley raised their target price on Ross Stores from $128.00 to $130.00 and gave the company an “equal weight” rating in a research report on Friday, August 22nd. Jefferies Financial Group upgraded Ross Stores from a “hold” rating to a “buy” rating and raised their target price for the company from $135.00 to $150.00 in a research report on Wednesday, July 2nd. Finally, Loop Capital decreased their target price on Ross Stores from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, May 23rd. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Ross Stores currently has an average rating of “Moderate Buy” and an average target price of $160.67.

Check Out Our Latest Stock Report on Ross Stores

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $147.90 on Friday. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $158.69. The company has a market cap of $48.10 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 2.90 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58. The business’s 50 day moving average price is $142.30 and its 200 day moving average price is $138.21.

Ross Stores (NASDAQ:ROSTGet Free Report) last announced its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.02. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The firm had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter last year, the business posted $1.59 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. On average, research analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $0.405 per share. The ex-dividend date is Tuesday, September 9th. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. Ross Stores’s dividend payout ratio (DPR) is presently 25.71%.

Ross Stores Profile

(Free Report)

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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