Ross Stores, Inc. (NASDAQ:ROST) Stock Position Cut by Acadian Asset Management LLC

Acadian Asset Management LLC lessened its stake in Ross Stores, Inc. (NASDAQ:ROST) by 64.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,993 shares of the apparel retailer’s stock after selling 157,081 shares during the period. Acadian Asset Management LLC’s holdings in Ross Stores were worth $12,614,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Ross Stores during the 4th quarter valued at about $523,185,000. First Trust Advisors LP boosted its position in shares of Ross Stores by 515.8% during the 4th quarter. First Trust Advisors LP now owns 1,756,881 shares of the apparel retailer’s stock valued at $243,135,000 after purchasing an additional 1,471,585 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Ross Stores by 1,437.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,026,367 shares of the apparel retailer’s stock valued at $142,039,000 after purchasing an additional 959,594 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Ross Stores during the 4th quarter valued at about $102,083,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Ross Stores by 14.6% in the fourth quarter. Wellington Management Group LLP now owns 4,722,885 shares of the apparel retailer’s stock worth $653,600,000 after buying an additional 601,031 shares during the period. Institutional investors own 86.86% of the company’s stock.

Insider Activity

In other news, Director Patricia H. Mueller sold 941 shares of Ross Stores stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total value of $130,206.17. Following the transaction, the director now owns 973 shares of the company’s stock, valued at $134,634.01. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Guggenheim raised their target price on shares of Ross Stores from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Evercore ISI raised their target price on shares of Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Wells Fargo & Company raised their target price on shares of Ross Stores from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. TD Cowen raised their target price on shares of Ross Stores from $173.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Finally, Morgan Stanley raised their target price on shares of Ross Stores from $159.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.06.

Ross Stores Stock Down 0.7 %

ROST traded down $1.00 during midday trading on Friday, hitting $143.50. 3,550,702 shares of the company’s stock traded hands, compared to its average volume of 2,144,261. The company has a market cap of $47.87 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 2.52 and a beta of 1.08. The stock’s fifty day simple moving average is $143.12 and its 200-day simple moving average is $141.53. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.03. Ross Stores, Inc. has a one year low of $108.35 and a one year high of $153.06.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.11. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.83 billion. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 earnings per share. As a group, equities analysts anticipate that Ross Stores, Inc. will post 5.97 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were given a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, June 11th. Ross Stores’s payout ratio is presently 24.79%.

Ross Stores Company 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.