Ceredex Value Advisors LLC Sells 77,400 Shares of Ross Stores, Inc. $ROST

Key Points

• Ceredex Value Advisors LLC reduced its stake in Ross Stores by 39.0%, selling 77,400 shares and leaving 120,850 shares valued at about $18.42 million, while overall institutional ownership stands at 86.86%.
• Ross beat quarterly expectations with $2.00 EPS (vs. $1.90 est.) and $6.64 billion in revenue (up 12.2% YoY) and raised its quarterly dividend to $0.445 from $0.41.
• Analysts remain constructive — the consensus rating is Moderate Buy with an average target of $208.29, and several firms have raised targets (e.g., Citigroup to $240, Barclays to $221).

Ceredex Value Advisors LLC reduced its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 39.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,850 shares of the apparel retailer's stock after selling 77,400 shares during the period. Ceredex Value Advisors LLC's holdings in Ross Stores were worth $18,416,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ROST. American National Bank & Trust purchased a new position in shares of Ross Stores in the third quarter worth $26,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Ross Stores in the 3rd quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. raised its position in Ross Stores by 162.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer's stock worth $36,000 after acquiring an additional 148 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in Ross Stores during the second quarter valued at $38,000. Finally, True Wealth Design LLC grew its stake in shares of Ross Stores by 152.0% during the 3rd quarter. True Wealth Design LLC now owns 257 shares of the apparel retailer's stock valued at $39,000 after acquiring an additional 155 shares during the period. 86.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ROST shares. Robert W. Baird set a $200.00 price objective on Ross Stores in a research report on Wednesday, December 17th. Barclays raised their target price on shares of Ross Stores from $205.00 to $221.00 and gave the company an "overweight" rating in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft set a $221.00 price objective on shares of Ross Stores in a report on Thursday, January 8th. Citigroup increased their target price on Ross Stores from $224.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $205.00 target price on shares of Ross Stores in a report on Monday, December 1st. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $208.29.

Ross Stores Trading Up 0.2%

Shares of NASDAQ:ROST opened at $212.15 on Tuesday. The company has a market capitalization of $68.62 billion, a PE ratio of 32.10, a P/E/G ratio of 2.89 and a beta of 0.97. The company has a current ratio of 1.58, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16. The business's fifty day simple moving average is $193.96 and its 200-day simple moving average is $172.82. Ross Stores, Inc. has a 12-month low of $122.36 and a 12-month high of $216.80.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The apparel retailer reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $0.10. Ross Stores had a return on equity of 36.70% and a net margin of 9.43%.The firm had revenue of $6.64 billion during the quarter, compared to analysts' expectations of $6.42 billion. During the same quarter last year, the firm earned $1.65 EPS. The business's quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.445 dividend. This is a boost from Ross Stores's previous quarterly dividend of $0.41. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, March 13th. Ross Stores's dividend payout ratio is currently 24.51%.

Ross Stores Profile

Ross Stores, Inc NASDAQ: ROST is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd's DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross's business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.

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