Public Sector Pension Investment Board Cuts Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Public Sector Pension Investment Board cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 12.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,888 shares of the apparel retailer’s stock after selling 5,496 shares during the period. Public Sector Pension Investment Board’s holdings in Ross Stores were worth $4,021,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ROST. Resurgent Financial Advisors LLC purchased a new stake in shares of Ross Stores during the fourth quarter worth approximately $29,000. Elequin Securities LLC purchased a new stake in shares of Ross Stores during the fourth quarter worth approximately $30,000. Ameritas Advisory Services LLC purchased a new stake in shares of Ross Stores during the first quarter worth approximately $34,000. Ellevest Inc. increased its stake in Ross Stores by 142.9% in the first quarter. Ellevest Inc. now owns 340 shares of the apparel retailer’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Finally, American National Bank increased its stake in Ross Stores by 656.0% in the first quarter. American National Bank now owns 378 shares of the apparel retailer’s stock valued at $40,000 after purchasing an additional 328 shares during the last quarter. 84.79% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Trading Down 0.9 %

Shares of Ross Stores stock opened at $120.61 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.83 and a debt-to-equity ratio of 0.55. The firm has a market cap of $41.09 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 2.01 and a beta of 0.97. The business has a fifty day simple moving average of $114.25 and a 200-day simple moving average of $108.60. Ross Stores, Inc. has a fifty-two week low of $81.21 and a fifty-two week high of $122.70.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.16. The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.75 billion. Ross Stores had a return on equity of 37.36% and a net margin of 8.36%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.11 earnings per share. On average, equities analysts forecast that Ross Stores, Inc. will post 5.23 EPS for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 5th will be given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Friday, September 1st. Ross Stores’s payout ratio is 28.39%.

Wall Street Analyst Weigh In

ROST has been the topic of several recent analyst reports. SpectralCast reiterated a “downgrade” rating on shares of Ross Stores in a research note on Monday, June 26th. StockNews.com initiated coverage on shares of Ross Stores in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. 888 reiterated a “downgrade” rating on shares of Ross Stores in a research note on Monday, June 26th. Bank of America increased their price objective on Ross Stores from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, August 18th. Finally, Loop Capital increased their price objective on Ross Stores from $125.00 to $135.00 and gave the company a “buy” rating in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.00.

Insider Activity at Ross Stores

In related news, CEO Barbara Rentler sold 23,254 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $120.02, for a total transaction of $2,790,945.08. Following the transaction, the chief executive officer now directly owns 282,171 shares of the company’s stock, valued at $33,866,163.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ross Stores news, CEO Barbara Rentler sold 23,254 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $120.02, for a total value of $2,790,945.08. Following the transaction, the chief executive officer now directly owns 282,171 shares of the company’s stock, valued at approximately $33,866,163.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Brian R. Morrow sold 25,945 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $121.53, for a total value of $3,153,095.85. Following the sale, the chief marketing officer now directly owns 67,033 shares of the company’s stock, valued at $8,146,520.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,199 shares of company stock valued at $8,325,441. Company insiders own 2.00% of the company’s stock.

About Ross Stores

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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.