Quarry LP Sells 269 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Quarry LP cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 30.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 620 shares of the apparel retailer’s stock after selling 269 shares during the quarter. Quarry LP’s holdings in Ross Stores were worth $90,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Riverview Trust Co bought a new position in Ross Stores in the 1st quarter worth approximately $26,000. Rise Advisors LLC bought a new stake in Ross Stores during the 1st quarter valued at $27,000. SJS Investment Consulting Inc. lifted its position in shares of Ross Stores by 262.1% during the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in shares of Ross Stores in the second quarter worth $32,000. Finally, Raleigh Capital Management Inc. grew 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 valued at $35,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 86.86% of the company’s stock.

Insider Activity

In related news, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction 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 approximately $48,003,532.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total value of $2,266,099.14. Following the completion of the sale, the chairman now owns 11,133 shares in the company, valued at approximately $1,694,665.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Barbara Rentler sold 48,885 shares of the business’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 value of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares in the company, 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. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ROST. Bank of America upped their price target on Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Loop Capital increased their target price on shares of 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 boosted their price target on shares of Ross Stores from $160.00 to $175.00 and gave the company a “market perform” rating in a research 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, Wells Fargo & Company lifted their price objective on Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $169.71.

Ross Stores Stock Down 0.3 %

Shares of NASDAQ ROST opened at $147.73 on Thursday. The stock has a market capitalization of $49.01 billion, a P/E ratio of 24.91, a PEG ratio of 2.46 and a beta of 1.09. Ross Stores, Inc. has a one year low of $110.02 and a one year high of $163.60. The firm’s 50 day simple moving average is $148.09 and its two-hundred day simple moving average is $143.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05.

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

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were given a $0.3675 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.47 annualized dividend and a yield of 1.00%. Ross Stores’s payout ratio is currently 24.79%.

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.