BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 59.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 64,219 shares of the apparel retailer’s stock after acquiring an additional 23,897 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Ross Stores were worth $9,332,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. American International Group Inc. raised its position in shares of Ross Stores by 2.4% in the 4th quarter. American International Group Inc. now owns 124,424 shares of the apparel retailer’s stock worth $17,219,000 after acquiring an additional 2,969 shares in the last quarter. PGGM Investments lifted its position in Ross Stores by 724.1% in the 2nd 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 in the last quarter. Bank of Nova Scotia boosted its position in shares of Ross Stores by 1,194.4% during the fourth quarter. Bank of Nova Scotia now owns 411,164 shares of the apparel retailer’s stock valued at $56,899,000 after buying an additional 379,398 shares during the last quarter. Perpetual Ltd bought a new position in shares of Ross Stores in the 1st quarter worth approximately $1,483,000. Finally, Canada Pension Plan Investment Board increased its holdings in Ross Stores by 140.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 464,062 shares of the apparel retailer’s stock worth $68,106,000 after acquiring an additional 270,844 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Insider Transactions at Ross Stores

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 value of $1,302,084.24. Following the transaction, the chief operating officer now owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman Michael Balmuth sold 14,887 shares of Ross Stores stock in a transaction 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 transaction, the chairman now directly owns 11,133 shares in the company, valued at $1,694,665.26. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael J. Hartshorn sold 8,366 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now 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. Over the last three months, insiders have sold 72,138 shares of company stock valued at $11,093,051. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Stock Up 0.5 %

NASDAQ:ROST opened at $153.08 on Thursday. The company has a market cap of $51.06 billion, a PE ratio of 25.81, a P/E/G ratio of 2.44 and a beta of 1.09. Ross Stores, Inc. has a twelve month low of $108.35 and a twelve month high of $163.60. The company’s 50 day moving average is $147.34 and its two-hundred day moving average is $143.13. 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 (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.25 billion. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $1.32 EPS. Analysts anticipate that Ross Stores, Inc. will post 6.2 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Tuesday, September 10th. Ross Stores’s dividend payout ratio is presently 24.79%.

Analyst Ratings Changes

A number of brokerages have issued reports on ROST. Wells Fargo & Company boosted their price target on shares of Ross Stores from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. Robert W. Baird increased their price target on Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Morgan Stanley lifted their price objective on shares of Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ross Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.71.

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.