Ross Stores, Inc. $ROST Stake Raised by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its stake in Ross Stores by 3.7%, holding 63,242 shares valued at approximately $8.07 million.
• Ross Stores reported a quarterly EPS of $1.56, exceeding analyst estimates by $0.02, while year-over-year revenue rose by 4.6%.
• The company declared a quarterly dividend of $0.405 per share, payable on September 30th, with a dividend yield of 1.1%.

IFM Investors Pty Ltd grew its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 3.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,242 shares of the apparel retailer's stock after purchasing an additional 2,273 shares during the period. IFM Investors Pty Ltd's holdings in Ross Stores were worth $8,068,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Canoe Financial LP increased its holdings in shares of Ross Stores by 18.5% during the second quarter. Canoe Financial LP now owns 806,734 shares of the apparel retailer's stock valued at $102,923,000 after purchasing an additional 125,740 shares during the period. Carderock Capital Management Inc. acquired a new position in shares of Ross Stores during the second quarter valued at $48,000. Exchange Traded Concepts LLC increased its holdings in shares of Ross Stores by 12.7% during the second quarter. Exchange Traded Concepts LLC now owns 11,991 shares of the apparel retailer's stock valued at $1,530,000 after purchasing an additional 1,355 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Ross Stores by 2.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 82,645 shares of the apparel retailer's stock valued at $10,872,000 after purchasing an additional 1,723 shares during the period. Finally, Wedmont Private Capital increased its holdings in shares of Ross Stores by 1.4% during the second quarter. Wedmont Private Capital now owns 5,707 shares of the apparel retailer's stock valued at $749,000 after purchasing an additional 79 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays raised their price target on Ross Stores from $156.00 to $164.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Wells Fargo & Company raised their target price on Ross Stores from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. raised their target price on Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. UBS Group raised their target price on Ross Stores from $144.00 to $147.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Finally, Morgan Stanley raised their target price on Ross Stores from $128.00 to $130.00 and gave the company an "equal weight" rating in a research note on Friday, August 22nd. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $160.67.

Ross Stores Trading Up 0.3%

Shares of NASDAQ:ROST traded up $0.42 during midday trading on Tuesday, reaching $145.09. The company had a trading volume of 574,544 shares, compared to its average volume of 3,075,401. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58. Ross Stores, Inc. has a 1-year low of $122.36 and a 1-year high of $158.69. The firm has a market cap of $47.19 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 2.81 and a beta of 1.15. The company has a fifty day simple moving average of $144.11 and a two-hundred day simple moving average of $138.57.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.02. The firm had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.54 billion. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The business's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.59 EPS. Research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

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

Insider Transactions at Ross Stores

In related news, CMO Karen Sykes sold 4,000 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $151.76, for a total value of $607,040.00. Following the completion of the sale, the chief marketing officer directly owned 106,413 shares of the company's stock, valued at approximately $16,149,236.88. This represents a 3.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company's stock.

Ross Stores Company 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.