Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 5.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,431 shares of the apparel retailer’s stock after selling 3,816 shares during the quarter. Amalgamated Bank’s holdings in Ross Stores were worth $9,944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Riverview Trust Co purchased a new stake in Ross Stores in the 1st quarter valued at about $26,000. Rise Advisors LLC acquired a new stake in shares of Ross Stores in the first quarter worth approximately $27,000. SJS Investment Consulting Inc. grew its holdings in Ross Stores by 262.1% in the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 152 shares during the period. Industrial Alliance Investment Management Inc. acquired a new position in Ross Stores during the second quarter worth approximately $32,000. Finally, Raleigh Capital Management Inc. raised its stake in Ross Stores by 41.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock worth $35,000 after purchasing an additional 74 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Trading Up 0.3 %

ROST opened at $150.73 on Thursday. The firm’s 50 day moving average is $147.11 and its 200-day moving average is $143.03. Ross Stores, Inc. has a 52-week low of $108.35 and a 52-week high of $163.60. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $50.28 billion, a P/E ratio of 25.42, a P/E/G ratio of 2.48 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (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 the consensus estimate of $5.25 billion. During the same quarter in the previous year, the firm posted $1.32 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts expect that Ross Stores, Inc. will post 6.2 EPS for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be issued a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Tuesday, September 10th. Ross Stores’s dividend payout ratio is currently 24.79%.

Insider Activity at Ross Stores

In other Ross Stores news, CEO Barbara Rentler sold 48,885 shares of Ross Stores stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 in the company, valued at approximately $48,003,532.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now owns 103,049 shares in the company, valued at approximately $16,038,546.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Barbara Rentler sold 48,885 shares of Ross Stores stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total value of $7,524,868.05. Following the completion of the transaction, the chief executive officer now owns 311,853 shares of the company’s stock, valued at $48,003,532.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,138 shares of company stock valued at $11,093,051. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ROST shares. Loop Capital boosted their price objective on shares of Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley boosted their price target on Ross Stores from $163.00 to $178.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. Bank of America lifted their price objective on Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Evercore ISI increased their target price on shares of Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Three 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $169.71.

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.