Ross Stores, Inc. $ROST Stock Holdings Decreased by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC has decreased its holdings in Ross Stores, Inc. by 16.8% during the 2nd quarter, now owning 9,998 shares valued at approximately $1.27 million.
• The company reported $1.56 EPS for the quarter, exceeding estimates and a revenue of $5.53 billion, marking a 4.6% increase year-over-year.
• Ross Stores has announced a quarterly dividend of $0.405 per share, resulting in an annualized yield of 1.0% and a payout ratio of 25.71%.

HB Wealth Management LLC reduced its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 16.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,998 shares of the apparel retailer's stock after selling 2,016 shares during the period. HB Wealth Management LLC's holdings in Ross Stores were worth $1,276,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ROST. Golden State Wealth Management LLC increased its position in shares of Ross Stores by 50.7% in the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock worth $28,000 after acquiring an additional 73 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of Ross Stores in the first quarter worth approximately $29,000. Bayforest Capital Ltd increased its position in shares of Ross Stores by 372.5% in the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock worth $31,000 after acquiring an additional 190 shares in the last quarter. Tradewinds Capital Management LLC increased its position in shares of Ross Stores by 36.6% in the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock worth $36,000 after acquiring an additional 75 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Ross Stores in the first quarter worth approximately $48,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Performance

ROST stock opened at $156.17 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $50.79 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 2.94 and a beta of 1.18. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $158.69. The firm has a 50 day moving average of $147.09 and a two-hundred day moving average of $139.76.

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

Ross Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 9th. Ross Stores's payout ratio is currently 25.71%.

Insiders Place Their Bets

In other Ross Stores news, CMO Karen Fleming sold 2,932 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $149.09, for a total value of $437,131.88. Following the completion of the sale, the chief marketing officer directly owned 88,335 shares of the company's stock, valued at $13,169,865.15. The trade was a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James Grant Conroy sold 39,351 shares of the business's stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $146.00, for a total transaction of $5,745,246.00. Following the completion of the sale, the chief executive officer owned 157,153 shares of the company's stock, valued at $22,944,338. The trade was a 20.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,283 shares of company stock valued at $6,789,418 over the last ninety days. Corporate insiders own 2.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Ross Stores from $144.00 to $147.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Barclays boosted their price objective on shares of Ross Stores from $156.00 to $164.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Cowen reaffirmed a "buy" rating on shares of Ross Stores in a research report on Friday, August 22nd. Morgan Stanley boosted their price objective on shares of Ross Stores from $128.00 to $130.00 and gave the company an "equal weight" rating in a research report on Friday, August 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Ross Stores currently has a consensus rating of "Moderate Buy" and an average price target of $160.67.

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.

Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.