Lighthouse Investment Partners LLC Lowers Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Lighthouse Investment Partners LLC trimmed its position in Ross Stores, Inc. (NASDAQ:ROST) by 14.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 30,000 shares of the apparel retailer’s stock after selling 5,000 shares during the period. Lighthouse Investment Partners LLC’s holdings in Ross Stores were worth $4,360,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Riverview Trust Co bought a new position in shares of Ross Stores in the first quarter worth approximately $26,000. Rise Advisors LLC bought a new position in shares of Ross Stores in the first quarter worth approximately $27,000. SJS Investment Consulting Inc. increased its position in shares of Ross Stores by 262.1% in the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 152 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in shares of Ross Stores in the second quarter worth approximately $32,000. Finally, Raleigh Capital Management Inc. increased its position in shares of Ross Stores by 41.8% in 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 last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Down 0.8 %

Shares of Ross Stores stock opened at $151.56 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. Ross Stores, Inc. has a 52-week low of $109.19 and a 52-week high of $163.60. The stock has a market capitalization of $50.28 billion, a price-to-earnings ratio of 25.56, a P/E/G ratio of 2.47 and a beta of 1.09. The company’s 50 day moving average price is $147.61 and its 200-day moving average price is $143.27.

Ross Stores (NASDAQ:ROST) last issued its 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 analysts’ expectations of $5.25 billion. During the same quarter last year, the business earned $1.32 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. Equities research analysts forecast that Ross Stores, Inc. will post 6.2 EPS for the current year.

Ross Stores Dividend Announcement

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 paid a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Tuesday, September 10th. Ross Stores’s payout ratio is 24.79%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ROST shares. StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. UBS Group upped their price objective 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. Bank of America increased their price target on shares of Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Barclays increased their price target on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, TD Cowen increased their price target on shares of Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $169.71.

Insider Buying and Selling

In related news, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 311,853 shares of the company’s stock, valued at $48,003,532.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 311,853 shares of the company’s stock, valued at $48,003,532.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the sale, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. 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 quarter. 2.10% of the stock is owned by company 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.