Hahn Capital Management LLC Trims Position in Ross Stores, Inc. $ROST

Key Points

• Hahn Capital Management LLC reduced its position in Ross Stores by 11.1%, now holding 65,852 shares valued at approximately $8.42 million.
• Investment analysts have set a consensus target price of $160.67 for Ross Stores, with 12 analysts recommending a "Buy" rating.
• Ross Stores announced a quarterly dividend of $0.405 per share, resulting in an annualized yield of 1.1% and a dividend payout ratio of 25.71%.

Hahn Capital Management LLC decreased its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,852 shares of the apparel retailer's stock after selling 8,207 shares during the period. Ross Stores accounts for 4.1% of Hahn Capital Management LLC's investment portfolio, making the stock its 10th biggest holding. Hahn Capital Management LLC's holdings in Ross Stores were worth $8,415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ROST. ICW Investment Advisors LLC grew its holdings in Ross Stores by 0.4% in the first quarter. ICW Investment Advisors LLC now owns 18,458 shares of the apparel retailer's stock worth $2,359,000 after purchasing an additional 67 shares during the period. CreativeOne Wealth LLC grew its holdings in Ross Stores by 3.8% in the first quarter. CreativeOne Wealth LLC now owns 1,932 shares of the apparel retailer's stock worth $247,000 after purchasing an additional 70 shares during the period. Golden State Wealth Management LLC grew its holdings in Ross Stores by 50.7% in 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 during the period. Forum Financial Management LP grew its holdings in Ross Stores by 5.3% in the fourth quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer's stock worth $223,000 after purchasing an additional 74 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in Ross Stores by 6.1% in the first quarter. First Horizon Advisors Inc. now owns 1,280 shares of the apparel retailer's stock worth $164,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors own 86.86% of the company's stock.

Ross Stores Stock Performance

Shares of Ross Stores stock traded down $0.85 on Monday, hitting $147.05. 1,946,239 shares of the company's stock were exchanged, compared to its average volume of 3,086,410. The stock has a market capitalization of $47.82 billion, a PE ratio of 23.34, a PEG ratio of 2.84 and a beta of 1.15. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $158.69. The company has a 50-day simple moving average of $142.30 and a 200-day simple moving average of $138.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58.

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

Ross Stores Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ROST. UBS Group upped their price objective on shares of Ross Stores from $144.00 to $147.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Telsey Advisory Group reiterated a "market perform" rating and set a $160.00 price target (up previously from $150.00) on shares of Ross Stores in a report on Monday, August 18th. Cowen reiterated a "buy" rating on shares of Ross Stores in a report on Friday, August 22nd. Jefferies Financial Group upgraded shares of Ross Stores from a "hold" rating to a "buy" rating and increased their price target for the company from $135.00 to $150.00 in a report on Wednesday, July 2nd. Finally, Loop Capital cut their price target on shares of Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.67.

Insider Transactions at Ross Stores

In other Ross Stores news, CMO Karen Sykes sold 4,000 shares of Ross Stores 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 sale, the chief marketing officer directly owned 106,413 shares in the company, valued at approximately $16,149,236.88. The trade was a 3.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.20% of the company's stock.

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.