Ross Stores, Inc. $ROST Stake Trimmed by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Ross Stores stake by 64.4% in the second quarter, selling 29,556 shares and retaining 16,316 shares valued at approximately $3.47 million. Institutional investors still own 86.86% of the company.
• Analysts remain broadly bullish, with 15 Buy ratings and six Holds giving Ross Stores a consensus “Moderate Buy” rating and an average price target of $263.76.
• Ross Stores reported strong quarterly results, earning $2.66 per share versus the $1.95 consensus estimate on revenue of $6.26 billion, up 13.3% year over year. The company also declared a quarterly dividend of $0.445 per share, yielding about 0.8% annually.

Engineers Gate Manager LP lessened its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 64.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,316 shares of the apparel retailer's stock after selling 29,556 shares during the period. Engineers Gate Manager LP's holdings in Ross Stores were worth $3,473,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Hilton Head Capital Partners LLC acquired a new stake in shares of Ross Stores during the fourth quarter valued at approximately $26,000. Bard Associates Inc. acquired a new position in Ross Stores in the 4th quarter worth approximately $31,000. Virtus Advisers LLC purchased a new position in Ross Stores during the 2nd quarter worth approximately $38,000. Twin Lakes Capital Management LLC purchased a new position in Ross Stores during the 2nd quarter worth approximately $41,000. Finally, Bell Investment Advisors Inc acquired a new stake in Ross Stores during the 2nd quarter valued at $43,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ROST shares. The Goldman Sachs Group restated a "buy" rating and issued a $270.00 target price on shares of Ross Stores in a report on Friday, May 22nd. JPMorgan Chase & Co. upped their price target on Ross Stores from $262.00 to $272.00 and gave the company an "overweight" rating in a research report on Friday, August 21st. Jefferies Financial Group increased their price objective on Ross Stores from $265.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, August 21st. Barclays raised their price objective on Ross Stores from $260.00 to $298.00 and gave the stock an "overweight" rating in a research report on Friday, August 21st. Finally, Zacks Research downgraded Ross Stores from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Ross Stores currently has a consensus rating of "Moderate Buy" and an average target price of $263.76.

Ross Stores Stock Performance

Ross Stores stock opened at $230.74 on Monday. Ross Stores, Inc. has a 12 month low of $143.39 and a 12 month high of $257.00. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The stock has a market cap of $73.71 billion, a P/E ratio of 27.93, a P/E/G ratio of 1.94 and a beta of 0.85. The company's fifty day simple moving average is $236.14 and its 200-day simple moving average is $225.89.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.71. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.Ross Stores's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $1.56 earnings per share. As a group, sell-side analysts forecast that Ross Stores, Inc. will post 8.15 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.445 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. Ross Stores's dividend payout ratio (DPR) is 21.55%.

Ross Stores Profile

Ross Stores, Inc NASDAQ: ROST is an off-price retailer that operates Ross Dress for Less and dd's DISCOUNTS stores. The company sells a broad selection of apparel, accessories, footwear and home fashion merchandise for women, men and children, generally at prices below those of traditional department and specialty stores.

Ross Stores follows an opportunistic buying model, purchasing name-brand, designer and other merchandise from manufacturers and retailers at discounted prices. Its product assortment changes frequently and can include clothing, shoes, handbags, jewelry, beauty products, furniture, bedding, home décor and other household goods.

Founded in 1950, the company is headquartered in Dublin, California, and serves customers primarily through its store network across the United States and Guam.

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