Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,268 shares of the apparel retailer’s stock after selling 299 shares during the quarter. Kentucky Retirement Systems’ holdings in Ross Stores were worth $3,672,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverview Trust Co purchased a new position in Ross Stores during the first quarter worth about $26,000. Rise Advisors LLC purchased a new position in Ross Stores during the first quarter worth about $27,000. SJS Investment Consulting Inc. raised its stake in 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 purchasing an additional 152 shares during the period. Industrial Alliance Investment Management Inc. purchased a new position in Ross Stores during the second quarter worth about $32,000. Finally, Raleigh Capital Management Inc. raised its stake in Ross Stores by 41.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock worth $35,000 after purchasing an additional 74 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ROST has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price 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. 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 note on Friday, August 23rd. UBS Group boosted their price target on shares of Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Gordon Haskett raised shares of Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Robert W. Baird boosted their price target on shares of Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $169.71.

Ross Stores Trading Up 2.5 %

NASDAQ ROST opened at $154.44 on Friday. The firm has a 50 day moving average of $147.18 and a two-hundred day moving average of $143.11. Ross Stores, Inc. has a 52 week low of $108.35 and a 52 week high of $163.60. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $51.24 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 2.49 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.09. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the prior year, the business posted $1.32 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts expect that Ross Stores, Inc. will post 6.2 EPS for the current fiscal year.

Ross Stores Announces Dividend

The business also recently announced 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 payout ratio is 24.79%.

Insider Activity

In related news, Chairman Michael Balmuth sold 14,887 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $152.22, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Chairman Michael Balmuth sold 14,887 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $152.22, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Barbara Rentler sold 48,885 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the sale, the chief executive officer now owns 311,853 shares of the company’s stock, valued at approximately $48,003,532.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,138 shares of company stock worth $11,093,051. Corporate insiders own 2.10% of the company’s stock.

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.