Goldman Sachs Group Inc. Sells 326,969 Shares of Ross Stores, Inc. $ROST

Key Points

• Goldman Sachs Group Inc. reduced its stake in Ross Stores, Inc. by 11.5%, selling 326,969 shares and leaving it with approximately 2.5 million shares valued at $322.9 million.
• Ross Stores announced a quarterly dividend of $0.405 per share, scheduled for payment on September 30th, reflecting a 1.1% yield.
• Analysts have a consensus rating of "Moderate Buy" on Ross Stores, with an average price target of $160.67, indicating potential for growth.

Goldman Sachs Group Inc. trimmed its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 11.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,526,898 shares of the apparel retailer's stock after selling 326,969 shares during the period. Goldman Sachs Group Inc. owned about 0.77% of Ross Stores worth $322,912,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ROST. Vanguard Group Inc. raised its stake in shares of Ross Stores by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 34,121,706 shares of the apparel retailer's stock worth $4,360,413,000 after purchasing an additional 4,946,101 shares during the period. EdgePoint Investment Group Inc. raised its stake in shares of Ross Stores by 59.3% during the 1st quarter. EdgePoint Investment Group Inc. now owns 4,055,088 shares of the apparel retailer's stock worth $518,200,000 after purchasing an additional 1,509,815 shares during the period. Royal Bank of Canada raised its stake in shares of Ross Stores by 69.6% during the 4th quarter. Royal Bank of Canada now owns 3,336,312 shares of the apparel retailer's stock worth $504,684,000 after purchasing an additional 1,368,571 shares during the period. Nuveen LLC purchased a new stake in Ross Stores in the 1st quarter worth about $122,043,000. Finally, GAMMA Investing LLC increased its holdings in Ross Stores by 16,435.4% in the 1st quarter. GAMMA Investing LLC now owns 806,099 shares of the apparel retailer's stock worth $103,011,000 after acquiring an additional 801,224 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. 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 report on Wednesday, July 2nd. JPMorgan Chase & Co. upped their target price on Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Cowen reaffirmed a "buy" rating on shares of Ross Stores in a research note on Friday, August 22nd. Loop Capital lowered their price objective on Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Finally, Morgan Stanley upped their target price on Ross Stores from $128.00 to $130.00 and gave the company an "equal weight" rating in a report on Friday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $160.67.

Ross Stores Stock Performance

Shares of Ross Stores stock traded down $3.20 during trading on Friday, hitting $147.90. 2,131,028 shares of the company's stock traded hands, compared to its average volume of 3,160,877. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $158.69. The stock has a market capitalization of $48.10 billion, a P/E ratio of 23.48, a PEG ratio of 2.90 and a beta of 1.15. The business has a 50-day simple moving average of $142.30 and a 200-day simple moving average of $138.21.

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, beating analysts' consensus estimates of $1.54 by $0.02. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The company had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the company earned $1.59 earnings per share. Ross Stores's revenue was up 4.6% on a year-over-year basis. As a group, analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

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 paid a $0.405 dividend. 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 (DPR) is 25.71%.

Insider Activity at Ross Stores

In related news, CMO Karen Sykes sold 4,000 shares of Ross Stores stock in a transaction that occurred on 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 of the company's stock, valued at approximately $16,149,236.88. This trade represents a 3.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by company insiders.

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.