North Point Portfolio Managers Corp OH Sells 1,670 Shares of Ross Stores, Inc. $ROST

Key Points

• North Point Portfolio Managers Corp OH sold 1,670 shares of Ross Stores, reducing its stake by 1.8%, now owning 92,774 shares valued at approximately $11.84 million.
• Ross Stores reported earnings of $1.56 per share, surpassing estimates, with quarterly revenue of $5.53 billion, up 4.6% from the previous year.
• Several analysts have upgraded their price targets for Ross Stores, with Barclays setting a target price of $164.00, reflecting positive growth expectations.

North Point Portfolio Managers Corp OH reduced its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,774 shares of the apparel retailer's stock after selling 1,670 shares during the period. Ross Stores makes up about 2.0% of North Point Portfolio Managers Corp OH's holdings, making the stock its 27th largest holding. North Point Portfolio Managers Corp OH's holdings in Ross Stores were worth $11,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its holdings in shares of 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 valued at $31,000 after purchasing an additional 190 shares in the last quarter. Banque Transatlantique SA purchased a new stake in Ross Stores in the first quarter valued at approximately $29,000. Tradewinds Capital Management LLC raised its stake in Ross Stores by 36.6% in the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock valued at $36,000 after purchasing an additional 75 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Ross Stores in the second quarter valued at approximately $38,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Up 0.7%

Shares of Ross Stores stock opened at $156.31 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $158.69. The stock has a market capitalization of $50.84 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 3.00 and a beta of 1.18. The company's 50 day moving average price is $149.73 and its 200-day moving average price is $141.89.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.02. The business had revenue of $5.53 billion for 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 firm's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.59 earnings per share. Equities research analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a $0.405 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $1.62 annualized dividend and a yield of 1.0%. Ross Stores's payout ratio is 25.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ROST shares. JPMorgan Chase & Co. raised their target price on shares of Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Barclays raised their target price on shares of Ross Stores from $156.00 to $164.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Wells Fargo & Company increased their price target on shares of Ross Stores from $165.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Cowen reiterated a "buy" rating on shares of Ross Stores in a research report on Friday, August 22nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Ross Stores in a research report on Tuesday, October 14th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $162.33.

Insider Activity at Ross Stores

In related news, CEO James Grant Conroy sold 39,351 shares of Ross Stores stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $146.00, for a total value of $5,745,246.00. Following the sale, the chief executive officer owned 157,153 shares in the company, valued at $22,944,338. The trade was a 20.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen C. Brinkley sold 6,437 shares of Ross Stores stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $150.97, for a total transaction of $971,793.89. Following the completion of the sale, the insider owned 57,012 shares in the company, valued at approximately $8,607,101.64. This trade represents a 10.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,720 shares of company stock worth $7,761,212. 2.20% of the stock is currently owned by 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.

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