Hsbc Holdings PLC Boosts Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Hsbc Holdings PLC grew its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 43.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,069,082 shares of the apparel retailer’s stock after acquiring an additional 325,293 shares during the quarter. Hsbc Holdings PLC owned 0.32% of Ross Stores worth $155,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. American International Group Inc. boosted its holdings in Ross Stores by 2.4% during the 4th quarter. American International Group Inc. now owns 124,424 shares of the apparel retailer’s stock worth $17,219,000 after acquiring an additional 2,969 shares during the last quarter. PGGM Investments boosted its holdings in Ross Stores by 724.1% during the 2nd quarter. PGGM Investments now owns 24,848 shares of the apparel retailer’s stock worth $3,611,000 after acquiring an additional 21,833 shares during the last quarter. Commerce Bank boosted its holdings in Ross Stores by 232.6% during the 4th quarter. Commerce Bank now owns 32,182 shares of the apparel retailer’s stock worth $4,454,000 after acquiring an additional 22,506 shares during the last quarter. Bank of Nova Scotia boosted its holdings in Ross Stores by 1,194.4% during the 4th quarter. Bank of Nova Scotia now owns 411,164 shares of the apparel retailer’s stock worth $56,899,000 after acquiring an additional 379,398 shares during the last quarter. Finally, Perpetual Ltd purchased a new position in Ross Stores during the 1st quarter worth $1,483,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Trading Up 0.3 %

Shares of ROST opened at $150.73 on Thursday. The business’s 50-day moving average price is $147.11 and its 200-day moving average price is $143.03. Ross Stores, Inc. has a twelve month low of $108.35 and a twelve month high of $163.60. The stock has a market cap of $50.28 billion, a PE ratio of 25.42, a P/E/G ratio of 2.48 and a beta of 1.09. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30.

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

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be given a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Tuesday, September 10th. Ross Stores’s dividend payout ratio (DPR) is 24.79%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ROST shares. Robert W. Baird lifted their price objective on shares of Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Guggenheim boosted their price target 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. Telsey Advisory Group boosted their price target on shares of Ross Stores from $160.00 to $175.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. StockNews.com raised shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Finally, Evercore ISI boosted their price target 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. Three research 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 stock. Based on data from MarketBeat.com, Ross Stores presently has an average rating of “Moderate Buy” and an average target price of $169.71.

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the transaction, the chief operating officer now directly owns 103,049 shares in the company, valued at $16,038,546.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Chairman Michael Balmuth sold 14,887 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $152.22, for a total value of $2,266,099.14. Following the transaction, the chairman now directly owns 11,133 shares in the company, valued at $1,694,665.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction that occurred 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 owns 103,049 shares in the company, valued at $16,038,546.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,138 shares of company stock worth $11,093,051. Insiders own 2.10% 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 to middle income households; and dd’s DISCOUNTS stores sell its products at department and discount stores for households with moderate income.