Robeco Institutional Asset Management B.V. Sells 5,482 Shares of Ross Stores, Inc. $ROST
by Tristan Rich · The Markets DailyRobeco Institutional Asset Management B.V. decreased its holdings in Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 0.4% during the third quarter, Holdings Channel.com reports. The firm owned 1,212,908 shares of the apparel retailer’s stock after selling 5,482 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Ross Stores were worth $283,093,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new position in Ross Stores in the 2nd quarter valued at approximately $5,938,711,000. State Street Corp raised its holdings in shares of Ross Stores by 5.3% during the second quarter. State Street Corp now owns 14,643,656 shares of the apparel retailer’s stock worth $3,116,902,000 after acquiring an additional 734,009 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Ross Stores during the second quarter worth $2,024,203,000. Primecap Management Co. CA acquired a new stake in Ross Stores during the second quarter valued at $1,937,995,000. Finally, Wellington Management Group LLP boosted its position in Ross Stores by 89.2% during the second quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer’s stock valued at $1,408,148,000 after purchasing an additional 3,118,591 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, insider Stephen Brinkley sold 6,424 shares of Ross Stores stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $229.66, for a total value of $1,475,335.84. Following the transaction, the insider directly owned 51,665 shares in the company, valued at approximately $11,865,383.90. The trade was a 11.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Conroy sold 49,205 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $229.48, for a total value of $11,291,563.40. Following the transaction, the chief executive officer directly owned 134,349 shares of the company’s stock, valued at $30,830,408.52. This represents a 26.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.10% of the company’s stock.
Ross Stores Trading Down 0.6%
Shares of ROST stock opened at $237.24 on Wednesday. Ross Stores, Inc. has a 12 month low of $154.87 and a 12 month high of $257.00. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $232.20 and its two-hundred day moving average is $229.83. The company has a market cap of $75.79 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 2.00 and a beta of 0.83.
Ross Stores (NASDAQ:ROST – Get Free Report) last posted its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.71. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.16 billion. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. Ross Stores’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $1.56 EPS. Equities analysts predict that Ross Stores, Inc. will post 8.15 EPS for the current year.
Ross Stores Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th were given a $0.4450 dividend. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 8th. Ross Stores’s dividend payout ratio (DPR) is currently 21.55%.
Analysts Set New Price Targets
Several research analysts have weighed in on ROST shares. Sanford C. Bernstein upped their target price on Ross Stores from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, August 21st. Robert W. Baird lifted their price target on Ross Stores from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, August 21st. Weiss Ratings raised Ross Stores from a “buy (b)” rating to a “buy (a-)” rating in a research note on Friday. Zacks Research raised Ross Stores from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Finally, Evercore set a $290.00 price objective on Ross Stores in a report on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $263.76.
Check Out Our Latest Research Report on Ross Stores
Ross Stores Profile
Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.
Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.
Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.
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