Ross Stores, Inc. $ROST Stock Holdings Reduced by 111 Capital

Key Points

• 111 Capital reduced its holdings in Ross Stores, Inc. by 74.3% in the second quarter, owning 4,261 shares valued at approximately $544,000 after selling 12,338 shares.
• Multiple brokerages including Jefferies Financial Group and JPMorgan Chase & Co. have raised their price targets for Ross Stores stock, with an average price target of $160.67 from analysts.
• The company announced a quarterly dividend of $0.405 per share, with a current dividend yield of 1.1% and a payout ratio of 25.71%.

111 Capital lowered its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 74.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,261 shares of the apparel retailer's stock after selling 12,338 shares during the quarter. 111 Capital's holdings in Ross Stores were worth $544,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. QRG Capital Management Inc. grew its stake in Ross Stores by 30.7% in the second quarter. QRG Capital Management Inc. now owns 61,503 shares of the apparel retailer's stock valued at $7,846,000 after purchasing an additional 14,452 shares in the last quarter. Ascent Group LLC grew its stake in Ross Stores by 22.4% in the second quarter. Ascent Group LLC now owns 9,067 shares of the apparel retailer's stock valued at $1,157,000 after purchasing an additional 1,657 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Ross Stores in the second quarter valued at about $38,000. SOA Wealth Advisors LLC. grew its stake in Ross Stores by 22.0% in the second quarter. SOA Wealth Advisors LLC. now owns 11,676 shares of the apparel retailer's stock valued at $1,490,000 after purchasing an additional 2,109 shares in the last quarter. Finally, Truist Financial Corp grew its stake in Ross Stores by 1.4% in the second quarter. Truist Financial Corp now owns 108,142 shares of the apparel retailer's stock valued at $13,797,000 after purchasing an additional 1,450 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ROST. Jefferies Financial Group raised Ross Stores from a "hold" rating to a "buy" rating and boosted their price target for the stock from $135.00 to $150.00 in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. boosted their price target on Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Ross Stores in a research report on Saturday, September 27th. Cowen reaffirmed a "buy" rating on shares of Ross Stores in a research report on Friday, August 22nd. Finally, Wells Fargo & Company boosted their price target on Ross Stores from $165.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Ross Stores presently has an average rating of "Moderate Buy" and an average price target of $160.67.

Insider Activity

In other news, CMO Karen Fleming sold 2,932 shares of the company's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $149.09, for a total value of $437,131.88. Following the sale, the chief marketing officer directly owned 88,335 shares in the company, valued at approximately $13,169,865.15. This represents a 3.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Karen Sykes sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were 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 owned 106,413 shares in the company, valued at approximately $16,149,236.88. This represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,283 shares of company stock worth $6,789,418. Company insiders own 2.20% of the company's stock.

Ross Stores Trading Down 2.3%

ROST stock opened at $152.64 on Monday. 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 $49.64 billion, a P/E ratio of 24.23, a P/E/G ratio of 2.93 and a beta of 1.18. The business's 50 day moving average is $147.38 and its 200-day moving average is $140.16. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

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

Ross Stores Announces Dividend

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

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.

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