Lecap Asset Management Ltd. Has $2.74 Million Stock Position in Ross Stores, Inc. $ROST

Key Points

• Lecap Asset Management Ltd. has decreased its holdings in Ross Stores, Inc. by 19.3%, now owning approximately $2.74 million worth of shares, which constitutes 1.0% of its portfolio.
• Ross Stores reported a quarterly EPS of $1.56, surpassing analysts' expectations, and achieved a 4.6% increase in revenue year-over-year despite facing lower earnings than the same quarter last year.
• The company recently declared a quarterly dividend of $0.405 per share, resulting in a 1.1% dividend yield and a payout ratio of 25.71%.

Lecap Asset Management Ltd. reduced its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 19.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 21,472 shares of the apparel retailer's stock after selling 5,134 shares during the quarter. Ross Stores makes up about 1.0% of Lecap Asset Management Ltd.'s portfolio, making the stock its 11th largest holding. Lecap Asset Management Ltd.'s holdings in Ross Stores were worth $2,739,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its position in shares of Ross Stores by 50.7% during the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock worth $28,000 after buying an additional 73 shares during the period. Banque Transatlantique SA acquired a new stake in shares of Ross Stores during the first quarter worth $29,000. Bayforest Capital Ltd increased its position in shares of Ross Stores by 372.5% during the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock worth $31,000 after buying an additional 190 shares during the period. Tradewinds Capital Management LLC increased its position in shares of Ross Stores by 36.6% during the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock worth $36,000 after buying an additional 75 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Ross Stores during the first quarter worth $48,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Stock Up 0.5%

Shares of NASDAQ ROST opened at $153.20 on Thursday. The stock has a market capitalization of $49.83 billion, a P/E ratio of 24.32, a P/E/G ratio of 2.93 and a beta of 1.18. The company has a 50-day moving average price of $146.69 and a 200-day moving average price of $139.55. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $158.69. 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 (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.02. The firm had revenue of $5.53 billion during the quarter, compared to analysts' expectations 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 was up 4.6% on a year-over-year basis. During the same period last year, the company earned $1.59 earnings per share. On average, equities research analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given 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 of this dividend was Tuesday, September 9th. Ross Stores's dividend payout ratio (DPR) is presently 25.71%.

Insider Activity at Ross Stores

In related news, CMO Karen Sykes sold 4,000 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $151.76, for a total transaction of $607,040.00. Following the transaction, the chief marketing officer directly owned 106,413 shares of the company's stock, valued at $16,149,236.88. This trade represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Karen Fleming sold 2,932 shares of the firm's stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $149.09, for a total transaction of $437,131.88. Following the transaction, the chief marketing officer directly owned 88,335 shares in the company, valued at $13,169,865.15. The trade was a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,283 shares of company stock valued at $6,789,418 over the last ninety days. Corporate insiders own 2.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ROST. Jefferies Financial Group upgraded shares of Ross Stores from a "hold" rating to a "buy" rating and increased their price objective for the stock from $135.00 to $150.00 in a research report on Wednesday, July 2nd. Wells Fargo & Company increased their price objective on shares of Ross Stores from $165.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. UBS Group increased their price objective on shares of Ross Stores from $144.00 to $147.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Cowen restated a "buy" rating on shares of Ross Stores in a report on Friday, August 22nd. Finally, Barclays raised their price target on shares of Ross Stores from $156.00 to $164.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Ross Stores currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.67.

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.

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