Ilmarinen Mutual Pension Insurance Co Decreases Stake in Ross Stores, Inc. $ROST

Key Points

• Ilmarinen Mutual Pension Insurance Co has significantly reduced its stake in Ross Stores, Inc. by 75.7%, now holding 14,446 shares worth approximately $1.85 million after selling 45,000 shares in the first quarter.
• Ross Stores reported earnings per share of $1.56, exceeding expectations, along with a quarterly revenue of $5.53 billion, marking a 4.6% increase from the same quarter last year.
• The company announced a quarterly dividend of $0.405 per share, representing an annual yield of 1.1%, with the payment scheduled for September 30.

Ilmarinen Mutual Pension Insurance Co lessened its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 75.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,446 shares of the apparel retailer's stock after selling 45,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Ross Stores were worth $1,846,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ROST. Golden State Wealth Management LLC grew its position in shares of Ross Stores by 50.7% in the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock valued at $28,000 after purchasing an additional 73 shares in the last quarter. Banque Transatlantique SA acquired a new position in Ross Stores during the first quarter worth $29,000. Bayforest Capital Ltd grew its holdings 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 buying an additional 190 shares in the last quarter. Tradewinds Capital Management LLC increased its stake in shares of Ross Stores by 36.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock worth $36,000 after acquiring an additional 75 shares during the last quarter. Finally, Putney Financial Group LLC purchased a new position in shares of Ross Stores during the 4th quarter worth $44,000. Institutional investors and hedge funds own 86.86% of the company's stock.

Ross Stores Trading Up 0.1%

Shares of NASDAQ ROST opened at $149.24 on Thursday. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $48.81 billion, a PE ratio of 23.69, a PEG ratio of 2.86 and a beta of 1.15. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $158.69. The stock has a fifty day simple moving average of $141.58 and a 200-day simple moving average of $138.03.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, topping 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 net margin of 9.60% and a return on equity of 37.37%. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.59 earnings per share. On average, equities analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share 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 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 dividend payout ratio (DPR) is currently 25.71%.

Wall Street Analysts Forecast Growth

ROST has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Wall Street Zen lowered Ross Stores from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Robert W. Baird raised their target price on Ross Stores from $160.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, August 22nd. UBS Group upped their price target on Ross Stores from $144.00 to $147.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Finally, Cowen reissued a "buy" rating on shares of Ross Stores in a research report on Friday, August 22nd. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Ross Stores has an average rating of "Moderate Buy" and a consensus price target of $160.67.

Insider Activity

In related news, CMO Karen Sykes sold 4,000 shares of Ross Stores stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer owned 106,413 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.20% of the company's stock.

Ross Stores Company 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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