Crew Capital Management Ltd. Cuts Position in Ross Stores, Inc. $ROST

Key Points

• Crew Capital Management Ltd. reduced its position in Ross Stores, Inc. by 70.9% during the second quarter, holding just 2,935 shares after selling 7,152 shares.
• Several institutional investors, including Vanguard Group Inc. and EdgePoint Investment Group Inc., have increased their positions in Ross Stores, contributing to 86.86% of the stock being owned by institutional investors.
• Ross Stores announced a quarterly dividend of $0.405, to be paid on September 30th, representing an annualized yield of 1.1% with a payout ratio of 25.71%.

Crew Capital Management Ltd. trimmed its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 70.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,935 shares of the apparel retailer's stock after selling 7,152 shares during the period. Crew Capital Management Ltd.'s holdings in Ross Stores were worth $374,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Ross Stores by 17.0% in the 1st quarter. Vanguard Group Inc. now owns 34,121,706 shares of the apparel retailer's stock worth $4,360,413,000 after buying an additional 4,946,101 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in Ross Stores by 59.3% in the 1st quarter. EdgePoint Investment Group Inc. now owns 4,055,088 shares of the apparel retailer's stock worth $518,200,000 after buying an additional 1,509,815 shares during the last quarter. Invesco Ltd. boosted its holdings in Ross Stores by 5.0% in the 1st quarter. Invesco Ltd. now owns 3,997,575 shares of the apparel retailer's stock worth $510,850,000 after buying an additional 192,148 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Ross Stores by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,912,392 shares of the apparel retailer's stock worth $372,134,000 after buying an additional 15,085 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Ross Stores by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 2,017,638 shares of the apparel retailer's stock worth $257,834,000 after buying an additional 45,674 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ROST has been the topic of several research analyst reports. Cowen reiterated a "buy" rating on shares of Ross Stores in a report on Friday, August 22nd. Robert W. Baird lifted their price objective on Ross Stores from $160.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, August 22nd. Morgan Stanley boosted their target price on Ross Stores from $128.00 to $130.00 and gave the stock an "equal weight" rating in a report on Friday, August 22nd. Barclays boosted their target price on Ross Stores from $156.00 to $164.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $160.67.

Ross Stores Stock Down 1.0%

Shares of NASDAQ ROST opened at $144.67 on Tuesday. The firm has a market cap of $47.05 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 2.81 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.58 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 business's 50 day moving average is $144.11 and its two-hundred day moving average is $138.57.

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

Ross Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. Ross Stores's payout ratio is presently 25.71%.

Insider Transactions at Ross Stores

In other Ross Stores news, CMO Karen Sykes sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total value of $607,040.00. Following the sale, the chief marketing officer owned 106,413 shares of the company's stock, valued at $16,149,236.88. The trade was a 3.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by insiders.

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.

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