Mutual of America Capital Management LLC Trims Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Mutual of America Capital Management LLC reduced its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,317 shares of the apparel retailer’s stock after selling 1,852 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Ross Stores were worth $6,150,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Riverview Trust Co bought a new position in Ross Stores in the 1st quarter worth about $26,000. Rise Advisors LLC purchased a new stake in shares of Ross Stores in the first quarter worth about $27,000. SJS Investment Consulting Inc. boosted its position in shares of Ross Stores by 262.1% in the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 152 shares during the period. Industrial Alliance Investment Management Inc. purchased a new position in Ross Stores during the second quarter valued at approximately $32,000. Finally, Raleigh Capital Management Inc. increased its holdings in 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. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Trading Down 0.1 %

Shares of ROST opened at $154.31 on Friday. Ross Stores, Inc. has a fifty-two week low of $108.35 and a fifty-two week high of $163.60. The firm has a market cap of $51.47 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 2.49 and a beta of 1.09. The firm has a 50 day moving average price of $147.23 and a 200-day moving average price of $143.14. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56.

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, topping the consensus estimate of $1.50 by $0.09. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.32 earnings per share. As a group, equities research analysts forecast that Ross Stores, Inc. will post 6.2 earnings per share 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 $0.3675 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $1.47 annualized dividend and a yield of 0.95%. Ross Stores’s payout ratio is currently 24.79%.

Insider Transactions at Ross Stores

In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $152.22, for a total value of $2,266,099.14. Following the sale, the chairman now owns 11,133 shares of the company’s stock, valued at approximately $1,694,665.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of the stock in a transaction that occurred 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 sale, the chairman now owns 11,133 shares in the company, valued at approximately $1,694,665.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Barbara Rentler sold 48,885 shares of Ross Stores stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total value of $7,524,868.05. Following the completion of the sale, the chief executive officer now owns 311,853 shares in the company, valued at $48,003,532.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,138 shares of company stock worth $11,093,051. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ROST has been the subject of several analyst reports. Bank of America raised their price target 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. TD Cowen lifted their price objective on Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. UBS Group upped their target price on Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Barclays lifted their price target on Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Telsey Advisory Group upped their price objective on shares of Ross Stores from $160.00 to $175.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Three equities research 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. According to data from MarketBeat, Ross Stores currently has an average 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.