Lecap Asset Management Ltd. Takes Position in Ross Stores, Inc. (NASDAQ:ROST)

Lecap Asset Management Ltd. bought a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 26,606 shares of the apparel retailer's stock, valued at approximately $3,400,000. Ross Stores comprises about 0.8% of Lecap Asset Management Ltd.'s investment portfolio, making the stock its 18th biggest holding.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC increased its position in shares of Ross Stores by 152.9% during the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock valued at $27,000 after purchasing an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in shares of Ross Stores during the 4th quarter valued at $31,000. Putney Financial Group LLC purchased a new stake in shares of Ross Stores during the 4th quarter valued at $44,000. Cary Street Partners Financial LLC purchased a new stake in shares of Ross Stores during the 4th quarter valued at $48,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Ross Stores during the 4th quarter valued at $53,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Trading Up 1.0%

Shares of ROST stock traded up $1.28 during mid-day trading on Friday, reaching $127.90. The stock had a trading volume of 4,418,454 shares, compared to its average volume of 2,799,516. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. The stock's 50-day moving average price is $139.69 and its two-hundred day moving average price is $140.72. The firm has a market capitalization of $41.83 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 2.66 and a beta of 1.14. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.03. The business had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.94 billion. Ross Stores had a return on equity of 38.77% and a net margin of 9.79%. Ross Stores's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 EPS. Equities analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Tuesday, June 10th. Ross Stores's payout ratio is currently 25.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ROST shares. Loop Capital decreased their target price 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. JPMorgan Chase & Co. lifted their price objective on Ross Stores from $141.00 to $154.00 and gave the stock an "overweight" rating in a report on Friday, June 13th. UBS Group decreased their price objective on Ross Stores from $168.00 to $163.00 and set a "neutral" rating for the company in a report on Wednesday, March 5th. Barclays decreased their price objective on Ross Stores from $157.00 to $156.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Finally, Robert W. Baird decreased their price objective on Ross Stores from $175.00 to $160.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Ross Stores presently has a consensus rating of "Moderate Buy" and an average target price of $159.53.

Insiders Place Their Bets

In other news, Chairman Michael Balmuth sold 11,261 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total value of $1,481,947.60. Following the completion of the transaction, the chairman now owns 59,790 shares of the company's stock, valued at approximately $7,868,364. This represents a 15.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Karen Fleming sold 5,270 shares of Ross Stores stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $127.70, for a total value of $672,979.00. Following the sale, the chief marketing officer now owns 93,126 shares in the company, valued at $11,892,190.20. This represents a 5.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,567 shares of company stock worth $2,812,024. 2.20% of the stock is currently owned by corporate insiders.

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.