Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. cut its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 32.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,000 shares of the apparel retailer's stock after selling 5,300 shares during the quarter. Intact Investment Management Inc.'s holdings in Ross Stores were worth $1,406,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ROST. Larson Financial Group LLC grew its position in shares of Ross Stores by 152.9% during the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock worth $27,000 after buying an additional 107 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of Ross Stores during the fourth quarter worth about $31,000. Putney Financial Group LLC acquired a new position in shares of Ross Stores during the fourth quarter worth about $44,000. Cary Street Partners Financial LLC acquired a new position in shares of Ross Stores during the fourth quarter worth about $48,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Ross Stores during the fourth quarter worth about $51,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ross Stores

In other news, CMO Karen Sykes sold 5,036 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $130.48, for a total transaction of $657,097.28. Following the completion of the sale, the chief marketing officer now owns 110,365 shares in the company, valued at $14,400,425.20. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael J. Hartshorn sold 7,492 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $127.69, for a total value of $956,653.48. Following the sale, the chief operating officer now owns 139,091 shares of the company's stock, valued at $17,760,529.79. This trade represents a 5.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,059 shares of company stock worth $3,768,677. 2.20% of the stock is owned by insiders.

Ross Stores Stock Performance

NASDAQ ROST traded down $0.38 on Friday, reaching $127.67. The stock had a trading volume of 7,112,833 shares, compared to its average volume of 2,758,322. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.55. Ross Stores, Inc. has a 12-month low of $122.36 and a 12-month high of $163.60. The business's 50-day moving average price is $140.98 and its 200 day moving average price is $141.50. The stock has a market cap of $41.76 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.68 and a beta of 1.14.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.03. Ross Stores had a return on equity of 38.77% and a net margin of 9.79%. The company had revenue of $4.98 billion during the quarter, compared to analysts' expectations of $4.94 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Tuesday, June 10th. Ross Stores's dividend payout ratio is currently 25.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ROST shares. UBS Group lowered their price objective on Ross Stores from $168.00 to $163.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Loop Capital lowered their price objective on Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Robert W. Baird decreased their target price on Ross Stores from $175.00 to $160.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Morgan Stanley decreased their target price on Ross Stores from $128.00 to $126.00 and set an "equal weight" rating for the company in a research note on Friday, May 23rd. Finally, Telsey Advisory Group restated a "market perform" rating and set a $150.00 target price on shares of Ross Stores in a research note on Friday, May 23rd. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ross Stores has an average rating of "Moderate Buy" and a consensus price target of $159.53.

About Ross Stores

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.