Ross Stores, Inc. $ROST Shares Sold by Axecap Investments LLC

Key Points

• Axecap Investments cut its Ross Stores stake by 63.5% in the third quarter, selling 8,516 shares and retaining 4,901 shares valued at approximately $1.14 million. Institutional investors collectively own 86.86% of the company.
• Ross Stores reported strong quarterly results, with EPS of $2.66 beating estimates by $0.71 and revenue rising 13.3% year over year to $6.26 billion.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $263.76, versus a recent price of $237.24.

Axecap Investments LLC lessened its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 63.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,901 shares of the apparel retailer's stock after selling 8,516 shares during the quarter. Axecap Investments LLC's holdings in Ross Stores were worth $1,144,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in Ross Stores by 89.2% in the second quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer's stock valued at $1,408,148,000 after buying an additional 3,118,591 shares during the period. United Capital Financial Advisors LLC acquired a new stake in shares of Ross Stores in the second quarter valued at approximately $3,390,000. NewEdge Advisors LLC lifted its position in shares of Ross Stores by 40.6% in the second quarter. NewEdge Advisors LLC now owns 17,353 shares of the apparel retailer's stock valued at $3,694,000 after buying an additional 5,012 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Ross Stores in the second quarter valued at approximately $34,867,000. Finally, Elevation Point Wealth Partners LLC boosted its stake in shares of Ross Stores by 459.5% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 26,095 shares of the apparel retailer's stock worth $5,653,000 after acquiring an additional 21,431 shares during the period. Institutional investors own 86.86% of the company's stock.

Insiders Place Their Bets

In other news, CEO James Conroy sold 49,205 shares of the business's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $229.48, for a total value of $11,291,563.40. Following the completion of the sale, the chief executive officer owned 134,349 shares of the company's stock, valued at approximately $30,830,408.52. The trade was a 26.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen C. Brinkley sold 6,424 shares of the business's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the completion of the sale, the insider directly owned 51,665 shares of the company's stock, valued at approximately $11,865,383.90. The trade was a 11.06% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

ROST has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their target price on Ross Stores from $245.00 to $248.00 and gave the stock an "equal weight" rating in a report on Friday, August 21st. Sanford C. Bernstein increased their price target on Ross Stores from $230.00 to $240.00 and gave the company a "market perform" rating in a research note on Friday, August 21st. Jefferies Financial Group raised their price target on Ross Stores from $265.00 to $285.00 and gave the company a "buy" rating in a report on Friday, August 21st. Robert W. Baird raised their price target on Ross Stores from $250.00 to $270.00 and gave the company an "outperform" rating in a report on Friday, August 21st. Finally, Evercore set a $290.00 price objective on shares of Ross Stores in a research report on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $263.76.

Ross Stores Trading Down 0.6%

Shares of ROST stock opened at $237.24 on Wednesday. Ross Stores, Inc. has a 12-month low of $154.87 and a 12-month high of $257.00. The company has a market capitalization of $75.79 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 2.00 and a beta of 0.83. The firm has a 50 day moving average price of $232.20 and a two-hundred day moving average price of $229.83. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, beating the consensus estimate of $1.95 by $0.71. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.56 earnings per share. As a group, analysts predict that Ross Stores, Inc. will post 8.15 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th were issued a $0.4450 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 8th. Ross Stores's dividend payout ratio is currently 21.55%.

About Ross Stores

Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.

Ross Stores also operates dd's DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.

Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.

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