Mitchell Capital Management Co. Sells 30,415 Shares of Ross Stores, Inc. $ROST

Key Points

• Mitchell Capital Management Co. reduced its holdings in Ross Stores, Inc. by 58.4%, selling 30,415 shares and bringing their total to 21,700 shares valued at approximately $2.82 million.
• Ross Stores reported $1.56 earnings per share in its latest quarterly earnings, surpassing estimates of $1.54, despite a year-over-year revenue increase of only 4.6%.
• The company recently declared a quarterly dividend of $0.405 per share, with a dividend yield of 1.1% and a payout ratio of 25.71%.

Mitchell Capital Management Co. lessened its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 58.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,700 shares of the apparel retailer's stock after selling 30,415 shares during the quarter. Mitchell Capital Management Co.'s holdings in Ross Stores were worth $2,820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of ROST. Golden State Wealth Management LLC grew its position in Ross Stores by 50.7% in the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock valued at $28,000 after acquiring an additional 73 shares during the last quarter. Banque Transatlantique SA bought a new position in Ross Stores in the 1st quarter valued at $29,000. Bayforest Capital Ltd grew its position in Ross Stores by 372.5% in the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock valued at $31,000 after acquiring an additional 190 shares during the last quarter. Tradewinds Capital Management LLC grew its position in Ross Stores by 36.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock valued at $36,000 after acquiring an additional 75 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in Ross Stores in the 2nd quarter valued at $38,000. Institutional investors own 86.86% of the company's stock.

Ross Stores Price Performance

ROST opened at $147.71 on Monday. Ross Stores, Inc. has a 12-month low of $122.36 and a 12-month high of $158.69. 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 business's fifty day simple moving average is $148.57 and its 200-day simple moving average is $140.96. The company has a market capitalization of $48.04 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.84 and a beta of 1.18.

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 for the quarter, topping 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 return on equity of 37.37% and a net margin of 9.60%.The firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.59 EPS. On average, equities research analysts anticipate 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 was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were 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 was Tuesday, September 9th. Ross Stores's dividend payout ratio is 25.71%.

Insider Buying and Selling

In related news, CMO Karen Sykes sold 4,000 shares of the company's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total transaction of $607,040.00. Following the completion of the sale, the chief marketing officer directly owned 106,413 shares in the company, valued at $16,149,236.88. This represents a 3.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Karen Fleming sold 2,932 shares of the company's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $149.09, for a total value of $437,131.88. Following the sale, the chief marketing officer owned 88,335 shares of the company's stock, valued at $13,169,865.15. This trade represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,720 shares of company stock valued at $7,761,212. Company insiders own 2.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ROST. Wells Fargo & Company upped their price objective on Ross Stores from $165.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. upped their target price on Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. Telsey Advisory Group reissued a "market perform" rating and set a $160.00 price target (up previously from $150.00) on shares of Ross Stores in a research report on Monday, August 18th. Robert W. Baird increased their price target on Ross Stores from $160.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, August 22nd. Finally, Jefferies Financial Group raised 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 report on Wednesday, July 2nd. Thirteen 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, the stock 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.

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