MetLife Investment Management LLC Sells 2,129 Shares of Ross Stores, Inc. $ROST

Key Points

• MetLife Investment Management LLC reduced its stake in Ross Stores, Inc. by 2.3%, owning 88,883 shares valued at approximately $11.36 million as of the latest SEC filing.
• Several analysts have upgraded their target prices for Ross Stores, with UBS Group increasing it from $144 to $147 and Barclays from $156 to $164, indicating a consensus rating of "Moderate Buy."
• Ross Stores recently declared a quarterly dividend of $0.405, which represents an annualized yield of 1.1% and is scheduled for payment on September 30th.

MetLife Investment Management LLC reduced its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,883 shares of the apparel retailer's stock after selling 2,129 shares during the period. MetLife Investment Management LLC's holdings in Ross Stores were worth $11,358,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in Ross Stores by 50.7% in 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 in the last quarter. Bayforest Capital Ltd raised its stake in Ross Stores by 372.5% in 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 in the last quarter. Tradewinds Capital Management LLC grew its position 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 buying an additional 75 shares during the period. Putney Financial Group LLC bought a new position in shares of Ross Stores in the 4th quarter worth about $44,000. Finally, Cary Street Partners Financial LLC bought a new position in shares of Ross Stores in the 4th quarter worth about $48,000. 86.86% of the stock is owned by institutional investors.

Ross Stores Price Performance

NASDAQ:ROST traded down $1.89 during trading hours on Friday, hitting $147.16. 2,633,607 shares of the stock traded hands, compared to its average volume of 3,327,832. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $158.69. The company has a market cap of $48.13 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 2.86 and a beta of 1.11. The stock has a 50 day moving average price of $138.06 and a 200 day moving average price of $137.40.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.54 by $0.02. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The firm had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the previous year, the firm earned $1.59 earnings per share. The company's quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, September 9th. Ross Stores's payout ratio is currently 25.71%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ROST shares. UBS Group increased their price target on shares of Ross Stores from $144.00 to $147.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. Telsey Advisory Group reiterated a "market perform" rating and issued a $160.00 price target (up from $150.00) on shares of Ross Stores in a research note on Monday, August 18th. Morgan Stanley increased their price target on shares of Ross Stores from $128.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Friday, August 22nd. Jefferies Financial Group upgraded shares of Ross Stores from a "hold" rating to a "buy" rating and increased their price target for the stock from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Finally, Cowen restated a "buy" rating on shares of Ross Stores in a research note on Friday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Ross Stores has an average rating of "Moderate Buy" and an average 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.