Nexus Investment Management ULC Trims Position in Ross Stores, Inc. (NASDAQ:ROST)

Nexus Investment Management ULC reduced its position in Ross Stores, Inc. (NASDAQ:ROST) by 2.4% during the third quarter, HoldingsChannel reports. The firm owned 246,830 shares of the apparel retailer’s stock after selling 6,060 shares during the period. Ross Stores comprises approximately 3.6% of Nexus Investment Management ULC’s portfolio, making the stock its 8th largest holding. Nexus Investment Management ULC’s holdings in Ross Stores were worth $37,150,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ROST. Chicago Partners Investment Group LLC bought a new position in Ross Stores during the fourth quarter worth $208,000. Fisher Asset Management LLC raised its holdings in Ross Stores by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 23,128 shares of the apparel retailer’s stock worth $3,201,000 after buying an additional 1,149 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at about $278,000. HighPoint Advisor Group LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at about $798,000. Finally, Nomura Holdings Inc. raised its holdings in shares of Ross Stores by 259.7% in the fourth quarter. Nomura Holdings Inc. now owns 6,834 shares of the apparel retailer’s stock valued at $946,000 after purchasing an additional 4,934 shares during the last quarter. 86.86% of the stock is owned by institutional investors.

Ross Stores Trading Up 2.0 %

Shares of ROST opened at $146.25 on Wednesday. The firm’s 50 day simple moving average is $148.58 and its 200 day simple moving average is $143.16. The company has a market capitalization of $48.79 billion, a P/E ratio of 24.66, a P/E/G ratio of 2.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05. Ross Stores, Inc. has a 1-year low of $112.39 and a 1-year high of $163.60.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, topping the consensus estimate of $1.50 by $0.09. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $1.32 earnings per share. Sell-side analysts forecast that Ross Stores, Inc. will post 6.2 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Tuesday, September 10th. Ross Stores’s dividend payout ratio (DPR) is presently 24.79%.

Insiders Place Their Bets

In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the transaction, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Barbara Rentler sold 48,885 shares of Ross Stores stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at $48,003,532.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores stock in a transaction on Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now directly owns 103,049 shares in the company, valued at approximately $16,038,546.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,138 shares of company stock valued at $11,093,051. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Gordon Haskett upgraded shares of Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. Loop Capital increased their target price on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. UBS Group increased their target price on shares of Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Finally, Bank of America increased their target price on shares of Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $169.71.

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