Ross Stores, Inc. $ROST Stock Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group cut its Ross Stores stake by 98.8% in the third quarter, selling 269,639 shares and retaining 3,356 shares valued at about $783,000.
• Ross reported quarterly earnings of $2.66 per share, beating the $1.95 analyst consensus; revenue rose 13.3% year over year to $6.26 billion.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $277.39; the stock was recently trading at $231.68.

Jefferies Financial Group Inc. lessened its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 98.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,356 shares of the apparel retailer's stock after selling 269,639 shares during the period. Jefferies Financial Group Inc.'s holdings in Ross Stores were worth $783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROST. BlackRock Inc. bought a new stake in shares of Ross Stores in the 2nd quarter valued at approximately $5,938,711,000. State Street Corp raised its holdings in shares of Ross Stores by 5.3% in the 2nd quarter. State Street Corp now owns 14,643,656 shares of the apparel retailer's stock worth $3,116,902,000 after buying an additional 734,009 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Ross Stores during the 2nd quarter worth approximately $2,024,203,000. Primecap Management Co. CA bought a new position in shares of Ross Stores during the 2nd quarter worth approximately $1,937,995,000. Finally, Wellington Management Group LLP boosted its stake in Ross Stores by 89.2% in the 2nd 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 in the last quarter. Institutional investors own 86.86% of the company's stock.

Insiders Place Their Bets

In related news, CEO James Conroy sold 49,205 shares of the company's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $229.48, for a total transaction of $11,291,563.40. Following the transaction, the chief executive officer owned 134,349 shares in the company, valued at $30,830,408.52. This represents a 26.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen C. Brinkley sold 6,424 shares of the company's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the transaction, the insider owned 51,665 shares in the company, valued at approximately $11,865,383.90. This trade represents a 11.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ROST shares. Robert W. Baird upped their price target on Ross Stores from $250.00 to $270.00 and gave the company an "outperform" rating in a research report on Friday, August 21st. Deutsche Bank reissued a "buy" rating and set a $294.00 price objective on shares of Ross Stores in a report on Friday, August 21st. Telsey Advisory Group lifted their price objective on Ross Stores from $265.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Wall Street Zen upgraded shares of Ross Stores from a "hold" rating to a "buy" rating in a research note on Sunday, November 1st. Finally, Bank of America lowered their target price on shares of Ross Stores from $265.00 to $258.00 and set a "buy" rating on the stock in a report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Ross Stores presently has a consensus rating of "Moderate Buy" and an average price target of $277.39.

Ross Stores Price Performance

Shares of ROST traded down $5.56 on Friday, hitting $231.68. The company's stock had a trading volume of 1,790,617 shares, compared to its average volume of 2,122,622. The company has a market capitalization of $74.01 billion, a PE ratio of 28.05, a PEG ratio of 2.12 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.98. Ross Stores, Inc. has a fifty-two week low of $157.73 and a fifty-two week high of $257.00. The company has a 50 day moving average price of $231.64 and a 200 day moving average price of $224.35.

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

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th were issued a dividend of $0.4450 per share. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, September 8th. Ross Stores's dividend payout ratio is presently 21.55%.

About Ross Stores

Ross Stores, Inc. is an off-price retailer operating Ross Dress for Less and dd's DISCOUNTS. Its stores offer name-brand and designer merchandise at discounted prices, with product selection and availability varying by location and season. Ross Dress for Less sells apparel, footwear, accessories, home fashions, furnishings, and other merchandise for the whole family. dd's DISCOUNTS offers a similar off-price assortment, including clothing, shoes, home goods, and related products. The company traces its origins to a department store founded in San Bruno, California, in 1950.

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