Artemis Investment Management LLP Sells 63,355 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Artemis Investment Management LLP lowered its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 42.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,039 shares of the apparel retailer’s stock after selling 63,355 shares during the quarter. Artemis Investment Management LLP’s holdings in Ross Stores were worth $12,625,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ROST. Riverview Trust Co acquired a new position in Ross Stores in the 1st quarter valued at approximately $26,000. Rise Advisors LLC bought a new stake in Ross Stores in the 1st quarter valued at $27,000. Geneos Wealth Management Inc. raised its stake in shares of Ross Stores by 52.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 83 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Ross Stores by 41.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock worth $35,000 after acquiring an additional 74 shares during the period. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Ross Stores during the 4th quarter valued at about $51,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ROST. Telsey Advisory Group reissued a “market perform” rating and issued a $160.00 price target on shares of Ross Stores in a research report on Friday, June 14th. Citigroup increased their target price on Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Loop Capital boosted their price target on Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Barclays upped their price target on Ross Stores from $163.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Finally, Morgan Stanley lifted their price objective on Ross Stores from $159.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Ross Stores presently has an average rating of “Moderate Buy” and an average target price of $156.58.

Insider Activity at Ross Stores

In other Ross Stores news, Director Patricia H. Mueller sold 941 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total value of $130,206.17. Following the completion of the sale, the director now owns 973 shares of the company’s stock, valued at $134,634.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Ross Stores Stock Performance

ROST stock opened at $145.32 on Friday. The stock has a market capitalization of $48.48 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 2.56 and a beta of 1.08. Ross Stores, Inc. has a fifty-two week low of $107.30 and a fifty-two week high of $151.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.03. The company has a 50 day moving average price of $138.68 and a 200 day moving average price of $140.38.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.11. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same period in the prior year, the business posted $1.09 earnings per share. Ross Stores’s revenue was up 8.1% compared to the same quarter last year. Analysts forecast that Ross Stores, Inc. will post 5.97 EPS for the current year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were given a $0.3675 dividend. The ex-dividend date was Tuesday, June 11th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.01%. Ross Stores’s dividend payout ratio is 24.79%.

Ross Stores announced that its board has approved a share buyback plan on Tuesday, March 5th that permits the company to repurchase $2.10 billion in shares. This repurchase authorization permits the apparel retailer to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.