Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. trimmed its position in Ross Stores, Inc. (NASDAQ:ROST) by 1.0% in the second quarter, Holdings Channel.com reports. The fund owned 1,287,461 shares of the apparel retailer’s stock after selling 12,370 shares during the period. Ross Stores makes up approximately 2.0% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 15th largest position. Burgundy Asset Management Ltd.’s holdings in Ross Stores were worth $187,094,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Riverview Trust Co acquired a new position in Ross Stores in the first quarter worth $26,000. Rise Advisors LLC bought a new position in shares of Ross Stores in the 1st quarter worth about $27,000. SJS Investment Consulting Inc. lifted its position in shares of Ross Stores by 262.1% in the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after buying an additional 152 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in shares of Ross Stores in the 2nd quarter valued at about $32,000. Finally, Raleigh Capital Management Inc. grew its position in shares of Ross Stores by 41.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after buying an additional 74 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Stock Up 0.3 %

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

Ross Stores (NASDAQ:ROST) last announced its 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 analysts’ expectations of $5.25 billion. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.32 earnings per share. On average, analysts forecast that Ross Stores, Inc. will post 6.2 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

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

Analyst Upgrades and Downgrades

ROST has been the subject of a number of research reports. Loop Capital lifted their target price on Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Robert W. Baird boosted their price objective on Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. TD Cowen increased their target price on Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Bank of America boosted their price target on shares of Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $169.71.

Insider Activity at Ross Stores

In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 11,133 shares in the company, valued at $1,694,665.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Barbara Rentler sold 48,885 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 311,853 shares in the company, valued at $48,003,532.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael Balmuth sold 14,887 shares of Ross Stores 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 completion of the transaction, the chairman now owns 11,133 shares in the company, valued at approximately $1,694,665.26. The disclosure for this sale can be found here. Insiders sold 72,138 shares of company stock valued at $11,093,051 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

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.