State of Alaska Department of Revenue Reduces Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

State of Alaska Department of Revenue reduced its stake in Ross Stores, Inc. (NASDAQ:ROSTGet Rating) by 8.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 50,463 shares of the apparel retailer’s stock after selling 4,913 shares during the period. State of Alaska Department of Revenue’s holdings in Ross Stores were worth $3,544,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its stake in Ross Stores by 10.1% in the first quarter. Advisor Group Holdings Inc. now owns 53,151 shares of the apparel retailer’s stock valued at $4,608,000 after purchasing an additional 4,871 shares during the last quarter. Distillate Capital Partners LLC increased its stake in Ross Stores by 29.6% in the first quarter. Distillate Capital Partners LLC now owns 52,122 shares of the apparel retailer’s stock valued at $4,714,000 after purchasing an additional 11,897 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Ross Stores by 28.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 280,150 shares of the apparel retailer’s stock valued at $25,343,000 after purchasing an additional 61,998 shares during the last quarter. OLD National Bancorp IN purchased a new position in shares of Ross Stores during the first quarter worth approximately $280,000. Finally, Checchi Capital Advisers LLC grew its position in shares of Ross Stores by 8.0% during the first quarter. Checchi Capital Advisers LLC now owns 3,821 shares of the apparel retailer’s stock worth $346,000 after acquiring an additional 282 shares during the last quarter. 87.65% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Trading Down 0.5 %

NASDAQ ROST opened at $87.85 on Thursday. The stock has a market capitalization of $30.49 billion, a P/E ratio of 20.87, a P/E/G ratio of 2.27 and a beta of 1.00. Ross Stores, Inc. has a 52-week low of $69.24 and a 52-week high of $123.36. The firm has a 50-day moving average price of $86.58 and a 200 day moving average price of $87.41. The company has a quick ratio of 1.17, a current ratio of 1.92 and a debt-to-equity ratio of 0.59.

Ross Stores (NASDAQ:ROSTGet Rating) last issued its earnings results on Thursday, August 18th. The apparel retailer reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.08. Ross Stores had a net margin of 7.97% and a return on equity of 36.36%. The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same period last year, the company posted $1.39 earnings per share. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. Equities research analysts expect that Ross Stores, Inc. will post 3.99 EPS for the current year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Tuesday, September 6th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 1.41%. Ross Stores’s dividend payout ratio (DPR) is presently 29.45%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ROST. Barclays increased their price target on shares of Ross Stores from $85.00 to $98.00 and gave the stock an “overweight” rating in a research note on Monday, August 22nd. William Blair reaffirmed an “outperform” rating on shares of Ross Stores in a report on Friday, August 19th. Morgan Stanley reaffirmed a “buy” rating and issued a $129.00 target price on shares of Ross Stores in a report on Friday, June 3rd. The Goldman Sachs Group assumed coverage on shares of Ross Stores in a report on Tuesday, August 2nd. They issued a “buy” rating and a $102.00 target price for the company. Finally, Evercore ISI set a $70.00 target price on shares of Ross Stores in a report on Tuesday, July 19th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.22.

Ross Stores Company Profile

(Get Rating)

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. 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 primarily 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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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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