Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership trimmed its position in Ross Stores, Inc. (NASDAQ:ROST) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,226 shares of the apparel retailer’s stock after selling 4,125 shares during the period. Prio Wealth Limited Partnership’s holdings in Ross Stores were worth $10,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ROST. First Trust Advisors LP increased its holdings in shares of Ross Stores by 515.8% in the fourth 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 during the period. Los Angeles Capital Management LLC increased its holdings in Ross Stores by 68.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 2,391,856 shares of the apparel retailer’s stock worth $347,585,000 after buying an additional 975,190 shares during the period. Wellington Management Group LLP raised its position in Ross Stores by 14.6% during the 4th 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 last quarter. AQR Capital Management LLC lifted its stake in Ross Stores by 59.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,261,102 shares of the apparel retailer’s stock valued at $183,263,000 after acquiring an additional 469,717 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Ross Stores by 27.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,814,440 shares of the apparel retailer’s stock valued at $263,675,000 after acquiring an additional 394,774 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Trading Down 1.5 %

Shares of Ross Stores stock opened at $148.19 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05. The stock’s 50 day simple moving average is $147.97 and its 200-day simple moving average is $143.31. The stock has a market cap of $49.16 billion, a P/E ratio of 24.99, a P/E/G ratio of 2.46 and a beta of 1.09. Ross Stores, Inc. has a 1-year low of $110.02 and a 1-year high of $163.60.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.25 billion. During the same quarter in the previous year, the company posted $1.32 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts predict that Ross Stores, Inc. will post 6.2 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were paid a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a yield of 0.99%. The ex-dividend date was Tuesday, September 10th. Ross Stores’s payout ratio is 24.79%.

Wall Street Analyst Weigh In

ROST has been the subject of a number of research reports. Bank of America boosted their target price 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. StockNews.com raised Ross Stores from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Loop Capital upped their target price on Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Telsey Advisory Group lifted their price target on Ross Stores from $160.00 to $175.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Finally, Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. Three equities research 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, the company has an average rating of “Moderate Buy” and a consensus price target of $169.71.

Insider Buying and Selling

In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores stock in a transaction dated 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 transaction, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction 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 sale, the chief operating officer now owns 103,049 shares of the company’s stock, valued at $16,038,546.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Barbara Rentler sold 48,885 shares of the stock in a transaction dated Tuesday, August 27th. The shares were 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 directly owns 311,853 shares in the company, valued at approximately $48,003,532.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,138 shares of company stock valued at $11,093,051. Corporate 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.