Retirement Systems of Alabama Sells 189,108 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Retirement Systems of Alabama decreased its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 72.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,900 shares of the apparel retailer's stock after selling 189,108 shares during the period. Retirement Systems of Alabama's holdings in Ross Stores were worth $9,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ROST. Norges Bank acquired a new position in shares of Ross Stores during the 4th quarter valued at $649,318,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Ross Stores by 25.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer's stock valued at $2,952,170,000 after purchasing an additional 3,995,760 shares during the period. Wealthfront Advisers LLC grew its stake in shares of Ross Stores by 8,209.0% in the 4th quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer's stock valued at $360,204,000 after buying an additional 2,352,543 shares during the period. Madison Investment Advisors LLC acquired a new stake in shares of Ross Stores in the 4th quarter valued at about $230,204,000. Finally, Royal Bank of Canada increased its position in Ross Stores by 69.6% in the 4th quarter. Royal Bank of Canada now owns 3,336,312 shares of the apparel retailer's stock valued at $504,684,000 after buying an additional 1,368,571 shares in the last quarter. Institutional investors own 86.86% of the company's stock.

Insiders Place Their Bets

In other news, CMO Karen Fleming sold 5,270 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $127.70, for a total value of $672,979.00. Following the completion of the transaction, the chief marketing officer now directly owns 93,126 shares in the company, valued at approximately $11,892,190.20. This trade represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the chief marketing officer now directly owns 110,365 shares in the company, valued at $14,400,425.20. This trade represents a 4.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,567 shares of company stock worth $2,812,024 in the last quarter. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ROST. Barclays reduced their price target on shares of Ross Stores from $157.00 to $156.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Wall Street Zen lowered shares of Ross Stores from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Loop Capital decreased their price objective on Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Morgan Stanley dropped their target price on Ross Stores from $128.00 to $126.00 and set an "equal weight" rating on the stock in a report on Friday, May 23rd. Finally, BMO Capital Markets dropped their price objective on Ross Stores from $168.00 to $156.00 and set an "outperform" rating on the stock in a research note 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $159.53.

Ross Stores Stock Performance

Ross Stores stock traded up $0.49 during midday trading on Tuesday, reaching $128.36. The stock had a trading volume of 1,985,293 shares, compared to its average volume of 2,773,706. The firm has a market capitalization of $41.98 billion, a PE ratio of 20.28, a P/E/G ratio of 2.68 and a beta of 1.14. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.18. The firm's 50-day moving average price is $140.66 and its 200 day moving average price is $141.30.

Ross Stores (NASDAQ:ROST - Get Free Report) last released 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 net margin of 9.79% and a return on equity of 38.77%. The business had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.94 billion. During the same period in the previous year, the business earned $1.46 EPS. Ross Stores's revenue was up 2.6% compared to the same quarter last year. As a group, research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.62 annualized dividend and a yield of 1.26%. Ross Stores's dividend payout ratio is currently 25.59%.

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.