Maryland State Retirement & Pension System Trims Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Key Points

• The Maryland State Retirement & Pension System reduced its stake in Ross Stores, Inc. by 12.5%, selling 2,165 shares and retaining a total of 15,217 shares valued at approximately $1.95 million.
• Ross Stores reported a quarterly earnings per share (EPS) of $1.47, surpassing analysts' expectations of $1.44, with revenue of $4.98 billion for the quarter.
• The company also announced a quarterly dividend of $0.405 per share, translating to an annualized dividend yield of 1.1%, with a payout ratio of 25.59%.

Maryland State Retirement & Pension System decreased its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,217 shares of the apparel retailer's stock after selling 2,165 shares during the quarter. Maryland State Retirement & Pension System's holdings in Ross Stores were worth $1,945,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ROST. Golden State Wealth Management LLC grew its stake 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 purchasing an additional 73 shares in the last quarter. Bayforest Capital Ltd grew its stake 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 purchasing an additional 190 shares in the last quarter. Tradewinds Capital Management LLC boosted its position in shares of Ross Stores by 36.6% during 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 in the last quarter. Putney Financial Group LLC acquired a new position in shares of Ross Stores during the 4th quarter worth about $44,000. Finally, Cary Street Partners Financial LLC acquired a new position in shares of Ross Stores during the 4th quarter worth about $48,000. Hedge funds and other institutional investors own 86.86% of the company's stock.

Ross Stores Stock Performance

Shares of Ross Stores stock traded up $1.51 on Tuesday, hitting $148.00. The stock had a trading volume of 2,346,675 shares, compared to its average volume of 3,070,837. The company's 50 day moving average price is $134.71 and its 200 day moving average price is $137.17. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60. 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 has a market cap of $48.41 billion, a price-to-earnings ratio of 23.38, a P/E/G ratio of 2.78 and a beta of 1.11.

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

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were paid a dividend of $0.405 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.62 annualized dividend and a yield of 1.1%. Ross Stores's dividend payout ratio is currently 25.59%.

Analyst Ratings Changes

Several research firms have recently issued reports on ROST. Wall Street Zen cut Ross Stores from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Telsey Advisory Group reaffirmed a "market perform" rating and set a $150.00 price objective on shares of Ross Stores in a research report on Friday, May 23rd. JPMorgan Chase & Co. upped their price objective on Ross Stores from $154.00 to $156.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Barclays lowered their price objective on Ross Stores from $157.00 to $156.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Finally, Loop Capital lowered their price objective 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. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $159.06.

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.