Fred Alger Management Inc. lessened its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 32.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,832 shares of the apparel retailer’s stock after selling 24,277 shares during the period. Fred Alger Management Inc.’s holdings in Ross Stores were worth $2,935,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ROST. Guardian Life Insurance Co. of America grew its holdings in Ross Stores by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock worth $101,000 after acquiring an additional 10 shares during the period. Parkside Financial Bank & Trust grew its holdings in Ross Stores by 3.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock worth $108,000 after acquiring an additional 61 shares during the period. Parallel Advisors LLC grew its holdings in Ross Stores by 39.1% during the first quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock worth $111,000 after acquiring an additional 478 shares during the period. Acrospire Investment Management LLC grew its holdings in Ross Stores by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock worth $115,000 after acquiring an additional 1,000 shares during the period. Finally, Welch Group LLC grew its holdings in Ross Stores by 35.2% during the second quarter. Welch Group LLC now owns 2,752 shares of the apparel retailer’s stock worth $159,000 after acquiring an additional 716 shares during the period. 90.40% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Barbara Rentler sold 15,492 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total value of $945,012.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian R. Morrow sold 6,157 shares of the business’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total value of $402,052.10. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

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Shares of Ross Stores, Inc. (NASDAQ ROST) opened at 65.99 on Friday. The company’s 50 day moving average price is $61.05 and its 200-day moving average price is $60.55. Ross Stores, Inc. has a 1-year low of $52.85 and a 1-year high of $69.81. The firm has a market cap of $25.45 billion, a price-to-earnings ratio of 21.79 and a beta of 1.14.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. Ross Stores had a return on equity of 42.95% and a net margin of 8.87%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter in the previous year, the business earned $0.71 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts expect that Ross Stores, Inc. will post $3.23 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, September 7th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Wednesday, September 6th. Ross Stores’s dividend payout ratio is presently 21.12%.

A number of brokerages recently weighed in on ROST. BMO Capital Markets set a $65.00 price objective on Ross Stores and gave the stock a “hold” rating in a report on Tuesday, August 8th. MKM Partners upped their price objective on Ross Stores from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Wolfe Research dropped their price objective on Ross Stores from $76.00 to $73.00 and set an “outperform” rating on the stock in a report on Friday, August 18th. Cowen and Company reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Ross Stores in a report on Friday, August 18th. Finally, Zacks Investment Research lowered Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. Ross Stores currently has an average rating of “Buy” and an average price target of $70.17.

Ross Stores Company Profile

Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.

Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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