OMERS ADMINISTRATION Corp Sells 2,021 Shares of Ross Stores, Inc. $ROST

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Ross Stores, Inc. by 2.4%, ending up with 81,598 shares valued at approximately $10.43 million.
• Ross Stores reported $1.56 EPS for the quarter, exceeding estimates, with revenues reaching $5.53 billion, representing a 4.6% year-over-year increase.
• The company announced a quarterly dividend of $0.405 per share, to be paid on September 30th, reflecting a 1.1% yield with a payout ratio of 25.71%.

OMERS ADMINISTRATION Corp trimmed its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 81,598 shares of the apparel retailer's stock after selling 2,021 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Ross Stores were worth $10,427,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC grew its holdings in shares of Ross Stores by 50.7% in the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock worth $28,000 after acquiring an additional 73 shares during the last quarter. Bayforest Capital Ltd grew its holdings in shares of Ross Stores by 372.5% in the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock worth $31,000 after acquiring an additional 190 shares during the last quarter. Tradewinds Capital Management LLC grew its holdings 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 acquiring an additional 75 shares during the last quarter. Putney Financial Group LLC acquired a new position in shares of Ross Stores in the 4th quarter worth $44,000. Finally, Cary Street Partners Financial LLC acquired a new position in shares of Ross Stores in the 4th quarter worth $48,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Stock Down 1.3%

Shares of NASDAQ:ROST traded down $1.89 on Monday, reaching $147.16. The company had a trading volume of 2,633,607 shares, compared to its average volume of 3,348,483. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $158.69. The stock has a 50-day moving average price of $138.06 and a 200 day moving average price of $137.37. The stock has a market capitalization of $48.13 billion, a P/E ratio of 23.36, a P/E/G ratio of 2.83 and a beta of 1.15. 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 (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings results 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. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The company had revenue of $5.53 billion during the quarter, compared to analysts' expectations of $5.54 billion. During the same quarter in the previous year, the firm earned $1.59 earnings per share. The business's quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ROST. Telsey Advisory Group restated a "market perform" rating and issued a $160.00 target price (up from $150.00) on shares of Ross Stores in a report on Monday, August 18th. Loop Capital lowered their price target on Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. Jefferies Financial Group upgraded Ross Stores from a "hold" rating to a "buy" rating and lifted their price target for the company from $135.00 to $150.00 in a report on Wednesday, July 2nd. Wall Street Zen downgraded Ross Stores from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Robert W. Baird lifted their price target on Ross Stores from $160.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus 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.