STF Management LP Cuts Holdings in Ross Stores, Inc. (NASDAQ:ROST)

STF Management LP decreased its position in Ross Stores, Inc. (NASDAQ:ROST) by 4.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,402 shares of the apparel retailer’s stock after selling 244 shares during the period. STF Management LP’s holdings in Ross Stores were worth $785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Ross Stores by 1.2% during the first quarter. Vanguard Group Inc. now owns 28,916,192 shares of the apparel retailer’s stock worth $4,243,740,000 after purchasing an additional 346,474 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Ross Stores by 3.4% during the fourth quarter. Franklin Resources Inc. now owns 4,931,795 shares of the apparel retailer’s stock worth $682,511,000 after purchasing an additional 161,202 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Ross Stores by 14.6% during the fourth quarter. Wellington Management Group LLP now owns 4,722,885 shares of the apparel retailer’s stock worth $653,600,000 after purchasing an additional 601,031 shares in the last quarter. Norges Bank purchased a new stake in Ross Stores during the 4th quarter valued at about $523,185,000. Finally, Victory Capital Management Inc. grew its stake in Ross Stores by 11.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,310,364 shares of the apparel retailer’s stock valued at $481,062,000 after acquiring an additional 347,006 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, CEO Barbara Rentler sold 48,885 shares of the company’s 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 sale, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at approximately $48,003,532.29. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Barbara Rentler sold 48,885 shares of the company’s 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 sale, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at approximately $48,003,532.29. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Michael Balmuth sold 14,887 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the sale, the chairman now directly owns 11,133 shares in the company, valued at $1,694,665.26. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ROST. Morgan Stanley upped their price objective on shares of Ross Stores from $163.00 to $178.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Telsey Advisory Group upped their price objective on shares of Ross Stores from $160.00 to $175.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Robert W. Baird upped their price objective on shares of Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. TD Cowen upped their price objective on shares of Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $169.71.

Ross Stores Stock Performance

Shares of ROST stock opened at $153.17 on Tuesday. The firm’s 50 day moving average price is $146.98 and its 200-day moving average price is $142.97. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. Ross Stores, Inc. has a one year low of $108.35 and a one year high of $163.60. The firm has a market cap of $51.09 billion, a P/E ratio of 25.83, a P/E/G ratio of 2.48 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, topping the consensus estimate of $1.50 by $0.09. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.25 billion. During the same period in the prior year, the business posted $1.32 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts predict that Ross Stores, Inc. will post 6.2 EPS for the current year.

Ross Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be paid a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a yield of 0.96%. The ex-dividend date is Tuesday, September 10th. Ross Stores’s payout ratio is currently 24.79%.

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.