Ross Stores, Inc. $ROST Stake Decreased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 709,609 shares of the apparel retailer’s stock after selling 62,717 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Ross Stores were worth $165,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Ross Stores by 89.2% in the second quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer’s stock worth $1,408,148,000 after acquiring an additional 3,118,591 shares during the period. United Capital Financial Advisors LLC purchased a new position in shares of Ross Stores during the second quarter valued at approximately $3,390,000. NewEdge Advisors LLC raised its holdings in shares of Ross Stores by 40.6% during the second quarter. NewEdge Advisors LLC now owns 17,353 shares of the apparel retailer’s stock valued at $3,694,000 after purchasing an additional 5,012 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in Ross Stores during the second quarter valued at approximately $34,867,000. Finally, Nicholas Investment Partners LP bought a new position in Ross Stores during the second quarter valued at approximately $2,559,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Ross Stores from $262.00 to $272.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Wall Street Zen raised Ross Stores from a “hold” rating to a “buy” rating in a report on Sunday. Evercore set a $290.00 price objective on Ross Stores in a research report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $294.00 target price on shares of Ross Stores in a report on Friday, August 21st. Finally, Robert W. Baird raised their target price on Ross Stores from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ross Stores currently has an average rating of “Moderate Buy” and a consensus target price of $272.06.

Insider Transactions at Ross Stores

In other news, CEO James Conroy sold 49,205 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $229.48, for a total value of $11,291,563.40. Following the transaction, the chief executive officer owned 134,349 shares of the company’s stock, valued at $30,830,408.52. This trade represents a 26.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Brinkley sold 6,424 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $229.66, for a total value of $1,475,335.84. Following the completion of the transaction, the insider directly owned 51,665 shares in the company, valued at $11,865,383.90. This trade represents a 11.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Price Performance

ROST opened at $228.28 on Monday. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. Ross Stores, Inc. has a 1-year low of $157.39 and a 1-year high of $257.00. The company has a market capitalization of $72.92 billion, a PE ratio of 27.64, a PEG ratio of 2.04 and a beta of 0.85. The firm’s 50 day simple moving average is $231.17 and its two-hundred day simple moving average is $222.06.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.71. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.16 billion. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.56 EPS. As a group, equities analysts forecast that Ross Stores, Inc. will post 8.15 EPS for the current year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th were issued a dividend of $0.4450 per share. This represents a $1.78 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 8th. Ross Stores’s payout ratio is currently 21.55%.

Ross Stores Profile

Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.

Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.

Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.