Interval Partners LP Acquires 196,703 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Interval Partners LP lifted its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 491.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 236,703 shares of the apparel retailer’s stock after acquiring an additional 196,703 shares during the period. Ross Stores accounts for approximately 0.7% of Interval Partners LP’s holdings, making the stock its 26th biggest holding. Interval Partners LP owned 0.07% of Ross Stores worth $34,398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. American International Group Inc. raised its holdings in Ross Stores by 2.4% during the 4th quarter. American International Group Inc. now owns 124,424 shares of the apparel retailer’s stock valued at $17,219,000 after buying an additional 2,969 shares during the period. PGGM Investments raised its stake in shares of Ross Stores by 724.1% in the second quarter. PGGM Investments now owns 24,848 shares of the apparel retailer’s stock valued at $3,611,000 after acquiring an additional 21,833 shares during the period. Commerce Bank lifted its holdings in shares of Ross Stores by 232.6% in the 4th quarter. Commerce Bank now owns 32,182 shares of the apparel retailer’s stock worth $4,454,000 after acquiring an additional 22,506 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of Ross Stores by 1,194.4% during the 4th quarter. Bank of Nova Scotia now owns 411,164 shares of the apparel retailer’s stock worth $56,899,000 after purchasing an additional 379,398 shares during the period. Finally, Perpetual Ltd purchased a new position in shares of Ross Stores during the 1st quarter worth about $1,483,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Trading Down 0.1 %

NASDAQ ROST opened at $154.31 on Monday. The stock has a market cap of $51.47 billion, a P/E ratio of 26.02, a P/E/G ratio of 2.49 and a beta of 1.09. 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, Inc. has a 12-month low of $108.35 and a 12-month high of $163.60. The company has a fifty day simple moving average of $147.23 and a two-hundred day simple moving average of $143.06.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter in the previous year, the business earned $1.32 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that Ross Stores, Inc. will post 6.2 earnings per share 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 issued a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, September 10th. Ross Stores’s dividend payout ratio (DPR) is currently 24.79%.

Insider Transactions at Ross Stores

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

Analysts Set New Price Targets

ROST has been the subject of several analyst reports. TD Cowen raised their price objective on shares of Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Bank of America raised their price target on Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Telsey Advisory Group upped their price objective 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. Loop Capital increased 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. Finally, Wells Fargo & Company boosted their target price on shares of Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Three 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $169.71.

Ross Stores 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.