Bank of New York Mellon Corp Sells 325,631 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Bank of New York Mellon Corp trimmed its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 12.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,274,936 shares of the apparel retailer's stock after selling 325,631 shares during the quarter. Bank of New York Mellon Corp owned 0.69% of Ross Stores worth $290,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its position in shares of Ross Stores by 152.9% in the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock valued at $27,000 after purchasing an additional 107 shares during the period. BOK Financial Private Wealth Inc. acquired a new stake in Ross Stores during the fourth quarter worth $31,000. Golden State Wealth Management LLC boosted its stake in Ross Stores by 50.7% during 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. Tradewinds Capital Management LLC boosted its stake in Ross Stores by 36.6% during the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock worth $36,000 after buying an additional 75 shares in the last quarter. Finally, Putney Financial Group LLC acquired a new stake in Ross Stores during the fourth quarter worth $44,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Stock Up 0.5%

Shares of ROST traded up $0.72 during mid-day trading on Tuesday, hitting $131.49. 468,610 shares of the company's stock were exchanged, compared to its average volume of 2,786,456. The company has a market cap of $43.01 billion, a PE ratio of 20.81, a P/E/G ratio of 2.52 and a beta of 1.11. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $163.60. The company has a 50-day simple moving average of $138.73 and a 200 day simple moving average of $139.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.55 and a quick ratio of 0.95.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.03. The company had revenue of $4.98 billion during the quarter, compared to analysts' expectations of $4.94 billion. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The business's quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the business earned $1.46 EPS. On average, research analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 10th were paid a $0.405 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $1.62 annualized dividend and a dividend yield of 1.23%. Ross Stores's dividend payout ratio is presently 25.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of Ross Stores from a "hold" rating to a "buy" rating and upped their target price for the stock from $135.00 to $150.00 in a report on Wednesday, July 2nd. Loop Capital reduced their price target on shares of Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Wells Fargo & Company cut their target price on shares of Ross Stores from $155.00 to $150.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Wall Street Zen downgraded shares of Ross Stores from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Citigroup upgraded shares of Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price target on the stock in a research report on Thursday, April 3rd. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.94.

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.