Bryn Mawr Capital Management LLC Sells 1,362 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Bryn Mawr Capital Management LLC decreased its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,783 shares of the apparel retailer’s stock after selling 1,362 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Ross Stores were worth $2,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Ross Stores by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 28,916,192 shares of the apparel retailer’s stock valued at $4,243,740,000 after acquiring an additional 346,474 shares during the period. Franklin Resources Inc. boosted its holdings in Ross Stores by 3.4% in the 4th quarter. Franklin Resources Inc. now owns 4,931,795 shares of the apparel retailer’s stock worth $682,511,000 after buying an additional 161,202 shares during the period. Wellington Management Group LLP boosted its holdings in Ross Stores by 14.6% in 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 period. Norges Bank bought a new position in Ross Stores in the 4th quarter worth $523,185,000. Finally, Bank of New York Mellon Corp boosted its holdings in Ross Stores by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 3,085,590 shares of the apparel retailer’s stock worth $452,841,000 after buying an additional 78,423 shares during the period. Institutional investors own 86.86% of the company’s stock.

Analyst Upgrades and Downgrades

ROST has been the subject of several recent analyst reports. Guggenheim upped their target price on shares of Ross Stores from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Evercore ISI upped their target price on shares of Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Bank of America increased their price objective 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. Telsey Advisory Group increased their price objective on shares of Ross Stores from $160.00 to $175.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Finally, Barclays increased their price objective on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Three 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.71.

Insider Activity

In other news, CEO Barbara Rentler sold 48,885 shares of the 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 transaction, the chief executive officer now directly owns 311,853 shares in the company, valued at $48,003,532.29. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Ross Stores Price Performance

Shares of ROST stock opened at $150.61 on Friday. 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 company has a market capitalization of $50.24 billion, a P/E ratio of 25.40, a P/E/G ratio of 2.44 and a beta of 1.08. The company’s 50-day simple moving average is $145.71 and its two-hundred day simple moving average is $142.59. Ross Stores, Inc. has a one year low of $108.35 and a one 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm earned $1.32 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts anticipate that Ross Stores, Inc. will post 6.21 EPS for the current year.

Ross Stores Dividend Announcement

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

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.