Financiere des Professionnels Fonds d investissement inc. Has $4.74 Million Stake in Ross Stores, Inc. $ROST

Key Points

• Financiere des Professionnels Fonds d investissement inc. has reduced its holdings in Ross Stores, Inc. by 6.3% during Q2, selling 2,482 shares and now owning 37,184 shares worth approximately $4.74 million.
• Institutional ownership of Ross Stores is significant, with major investors like Vanguard Group Inc. and EdgePoint Investment Group Inc. increasing their stakes by 17% and 59.3% respectively in the first quarter.
• Ross Stores has recently declared a quarterly dividend of $0.405 per share, indicating a continuing commitment to returning value to shareholders amidst a strong financial performance.

Financiere des Professionnels Fonds d investissement inc. lowered its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 6.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,184 shares of the apparel retailer's stock after selling 2,482 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Ross Stores were worth $4,744,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its position in shares of Ross Stores by 50.7% in the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock worth $28,000 after acquiring an additional 73 shares during the period. Banque Transatlantique SA bought a new position in Ross Stores in the 1st quarter valued at $29,000. Bayforest Capital Ltd raised its position in Ross Stores by 372.5% in the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock valued at $31,000 after purchasing an additional 190 shares during the last quarter. Tradewinds Capital Management LLC raised its position in Ross Stores by 36.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock valued at $36,000 after purchasing an additional 75 shares during the last quarter. Finally, Putney Financial Group LLC bought a new position in Ross Stores in the 4th quarter valued at $44,000. Institutional investors own 86.86% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on ROST. Barclays lifted their target price on Ross Stores from $156.00 to $164.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Jefferies Financial Group raised Ross Stores from a "hold" rating to a "buy" rating and lifted their target price for the company from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Evercore ISI lowered their target price on Ross Stores from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. Wells Fargo & Company lifted their target price on Ross Stores from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $160.00 target price (up from $150.00) on shares of Ross Stores in a research note on Monday, August 18th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Ross Stores presently has an average rating of "Moderate Buy" and an average price target of $160.67.

Ross Stores Trading Up 0.1%

ROST stock traded up $0.09 during midday trading on Friday, hitting $146.18. 4,700,477 shares of the company's stock were exchanged, compared to its average volume of 3,088,366. The stock's fifty day moving average price is $143.54 and its 200-day moving average price is $138.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58. The company has a market cap of $47.54 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.82 and a beta of 1.15. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $158.69.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.02. The firm 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 company's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 earnings per share. Research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

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

Insider Transactions at Ross Stores

In related news, CMO Karen Sykes sold 4,000 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $151.76, for a total transaction of $607,040.00. Following the sale, the chief marketing officer owned 106,413 shares in the company, valued at approximately $16,149,236.88. This represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.20% of the company's stock.

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.