Balefire LLC Sells 1,828 Shares of Ross Stores, Inc. $ROST

Key Points

• Balefire LLC reduced its holdings in Ross Stores, Inc. by 53.6%, now owning 1,581 shares valued at approximately $202,000.
• Insider activity includes CMO Karen Sykes selling 4,000 shares for over $607,000, decreasing her ownership stake by 3.62%.
• Ross Stores declared a dividend of $0.405 per share, with an ex-dividend date of September 9th, representing an annualized yield of 1.1%.

Balefire LLC trimmed its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 53.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,581 shares of the apparel retailer's stock after selling 1,828 shares during the period. Balefire LLC's holdings in Ross Stores were worth $202,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ROST. Golden State Wealth Management LLC lifted its position in shares of Ross Stores by 50.7% during the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock worth $28,000 after purchasing an additional 73 shares in the last quarter. Banque Transatlantique SA acquired a new position in Ross Stores in the first quarter valued at approximately $29,000. Bayforest Capital Ltd lifted its holdings in Ross Stores by 372.5% in the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock valued at $31,000 after buying an additional 190 shares during the period. Tradewinds Capital Management LLC lifted its holdings in Ross Stores by 36.6% in the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock valued at $36,000 after buying an additional 75 shares during the period. Finally, Putney Financial Group LLC acquired a new position in Ross Stores in the fourth quarter valued at approximately $44,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ROST has been the topic of several analyst reports. Jefferies Financial Group upgraded shares of Ross Stores from a "hold" rating to a "buy" rating and increased their price objective for the company from $135.00 to $150.00 in a report on Wednesday, July 2nd. Barclays increased their price objective on shares of Ross Stores from $156.00 to $164.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Evercore ISI lowered their target price on shares of Ross Stores from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. Cowen reaffirmed a "buy" rating on shares of Ross Stores in a research note on Friday, August 22nd. Finally, Robert W. Baird upped their target price on shares of Ross Stores from $160.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $160.67.

Insiders Place Their Bets

In related news, CMO Karen Sykes sold 4,000 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $151.76, for a total value of $607,040.00. Following the completion of the transaction, the chief marketing officer owned 106,413 shares of the company's stock, valued at approximately $16,149,236.88. This trade represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.20% of the company's stock.

Ross Stores Stock Up 0.1%

Shares of ROST stock traded up $0.09 during trading hours on Friday, hitting $146.18. 4,700,477 shares of the company were exchanged, compared to its average volume of 2,616,361. The business has a 50 day moving average of $143.84 and a two-hundred day moving average of $138.50. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $158.69. The company has a market capitalization of $47.54 billion, a PE ratio of 23.20, a PEG ratio of 2.81 and a beta of 1.15.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.02. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The company had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the firm earned $1.59 earnings per share. The firm's revenue was up 4.6% compared to the same quarter last year. Analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $1.62 annualized dividend and a dividend yield of 1.1%. Ross Stores's dividend payout ratio is currently 25.71%.

About Ross Stores

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.