Ross Stores, Inc. $ROST Shares Sold by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its holding in Ross Stores, Inc. by 2.2%, now owning 106,248 shares valued at approximately $13.6 million.
• Ross Stores reported earnings per share of $1.56, exceeding analyst expectations, with revenue up 4.6% year-over-year to $5.53 billion.
• The company declared a quarterly dividend of $0.405, yielding 1.1%, payable on September 30th, with an ex-dividend date of September 9th.

Lansforsakringar Fondforvaltning AB publ lowered its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 2.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,248 shares of the apparel retailer's stock after selling 2,340 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Ross Stores were worth $13,577,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ROST. Eisler Capital Management Ltd. raised its position in Ross Stores by 577.6% in the 1st quarter. Eisler Capital Management Ltd. now owns 40,107 shares of the apparel retailer's stock valued at $5,124,000 after purchasing an additional 34,188 shares in the last quarter. B. Metzler seel. Sohn & Co. AG boosted its position in shares of Ross Stores by 4.9% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 15,846 shares of the apparel retailer's stock worth $2,025,000 after acquiring an additional 735 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in shares of Ross Stores by 3.8% in the 1st quarter. CreativeOne Wealth LLC now owns 1,932 shares of the apparel retailer's stock valued at $247,000 after acquiring an additional 70 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Ross Stores by 7.9% in the 1st quarter. Rafferty Asset Management LLC now owns 129,149 shares of the apparel retailer's stock valued at $16,504,000 after acquiring an additional 9,444 shares during the last quarter. Finally, Teca Partners LP lifted its stake in Ross Stores by 79.8% during the first quarter. Teca Partners LP now owns 163,831 shares of the apparel retailer's stock worth $20,936,000 after purchasing an additional 72,733 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Stock Up 2.8%

Ross Stores stock traded up $4.09 during midday trading on Tuesday, hitting $151.25. The stock had a trading volume of 3,132,601 shares, compared to its average volume of 3,132,769. 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 cap of $49.47 billion, a P/E ratio of 24.01, a P/E/G ratio of 2.83 and a beta of 1.15. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $158.69. The business has a fifty day moving average price of $138.45 and a 200 day moving average price of $137.42.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS 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 during the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the previous year, the firm posted $1.59 earnings per share. Ross Stores's quarterly revenue was up 4.6% compared to the same quarter last year. Research analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

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

Analysts Set New Price Targets

ROST has been the subject of several research reports. Barclays upped their price target on shares of Ross Stores from $156.00 to $164.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Morgan Stanley upped their target price on shares of Ross Stores from $128.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Friday, August 22nd. Jefferies Financial Group upgraded shares of Ross Stores from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $135.00 to $150.00 in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. raised their price target on Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Finally, UBS Group lifted their price objective on Ross Stores from $144.00 to $147.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Ross Stores presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.67.

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.