GAMMA Investing LLC Purchases 801,224 Shares of Ross Stores, Inc. (NASDAQ:ROST)

GAMMA Investing LLC increased its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 16,435.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 806,099 shares of the apparel retailer's stock after acquiring an additional 801,224 shares during the period. GAMMA Investing LLC owned about 0.25% of Ross Stores worth $103,011,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ROST. Nexus Investment Management ULC grew its holdings in Ross Stores by 4.6% during the 1st quarter. Nexus Investment Management ULC now owns 249,470 shares of the apparel retailer's stock worth $31,880,000 after acquiring an additional 11,010 shares during the last quarter. Quent Capital LLC lifted its position in shares of Ross Stores by 7.1% during the first quarter. Quent Capital LLC now owns 2,279 shares of the apparel retailer's stock worth $291,000 after purchasing an additional 152 shares in the last quarter. Fairtree Asset Management Pty Ltd bought a new stake in shares of Ross Stores during the fourth quarter valued at approximately $653,000. Members Wealth LLC acquired a new stake in shares of Ross Stores in the fourth quarter valued at approximately $245,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Ross Stores in the fourth quarter valued at approximately $53,077,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on ROST shares. Morgan Stanley decreased their price objective on Ross Stores from $128.00 to $126.00 and set an "equal weight" rating on the stock in a research report on Friday, May 23rd. JPMorgan Chase & Co. cut their price target on Ross Stores from $161.00 to $141.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. UBS Group decreased their price target on Ross Stores from $168.00 to $163.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Citigroup raised Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price objective for the company in a report on Thursday, April 3rd. Finally, BMO Capital Markets cut their target price on shares of Ross Stores from $168.00 to $156.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $158.67.

Ross Stores Trading Up 1.1%

Shares of ROST stock traded up $1.61 on Tuesday, reaching $144.03. The company had a trading volume of 3,161,502 shares, compared to its average volume of 2,713,579. The stock has a market cap of $47.36 billion, a PE ratio of 22.68, a PEG ratio of 2.13 and a beta of 1.17. The company has a 50-day moving average of $139.80 and a 200-day moving average of $142.91. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 EPS for the quarter, beating the consensus estimate of $1.44 by $0.03. The firm 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 9.95% and a return on equity of 41.83%. The business's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 earnings per share. On average, equities analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.62 annualized dividend and a yield of 1.12%. Ross Stores's dividend payout ratio is presently 25.59%.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, Chairman Michael Balmuth sold 11,261 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total transaction of $1,481,947.60. Following the completion of the transaction, the chairman now owns 59,790 shares in the company, valued at approximately $7,868,364. This represents a 15.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Karen Sykes sold 5,036 shares of Ross Stores stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $130.48, for a total value of $657,097.28. Following the completion of the sale, the chief marketing officer now directly owns 110,365 shares in the company, valued at approximately $14,400,425.20. This represents a 4.36% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,398 shares of company stock valued at $4,439,950. Company insiders own 2.20% of the company's stock.

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.