Sarasin & Partners LLP Grows Stake in Ross Stores, Inc. $ROST

Key Points

• Sarasin & Partners LLP increased its holdings in Ross Stores, Inc. by 0.5% during Q2, owning approximately 463,590 shares worth $59.15 million.
• The company reported earnings of $1.56 EPS for the latest quarter, exceeding the consensus estimate, with revenue of $5.53 billion, a 4.6% year-over-year increase.
• Ross Stores announced a quarterly dividend of $0.405 per share, equating to a 1.1% yield, with an ex-dividend date set for September 9th.

Sarasin & Partners LLP grew its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 463,590 shares of the apparel retailer's stock after purchasing an additional 2,510 shares during the period. Sarasin & Partners LLP owned approximately 0.14% of Ross Stores worth $59,145,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. ICW Investment Advisors LLC grew its position in shares of Ross Stores by 0.4% in the 1st quarter. ICW Investment Advisors LLC now owns 18,458 shares of the apparel retailer's stock worth $2,359,000 after buying an additional 67 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in Ross Stores by 3.8% in the 1st quarter. CreativeOne Wealth LLC now owns 1,932 shares of the apparel retailer's stock worth $247,000 after acquiring an additional 70 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Ross Stores by 50.7% in the 1st 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. Forum Financial Management LP grew its holdings in shares of Ross Stores by 5.3% during the fourth quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer's stock worth $223,000 after buying an additional 74 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Ross Stores by 6.1% during the 1st quarter. First Horizon Advisors Inc. now owns 1,280 shares of the apparel retailer's stock valued at $164,000 after acquiring an additional 74 shares during the last quarter. 86.86% of the stock is owned by institutional investors.

Ross Stores Stock Performance

Shares of NASDAQ ROST traded up $0.09 during trading hours on Friday, reaching $146.18. 4,700,477 shares of the stock were exchanged, compared to its average volume of 2,616,361. The stock's fifty day simple moving average is $143.84 and its 200 day simple moving average is $138.50. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $158.69. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58. The firm has a market capitalization of $47.54 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 2.81 and a beta of 1.15.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced 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. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The firm had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the previous year, the business earned $1.59 EPS. The business's quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Ross Stores's dividend payout ratio is currently 25.71%.

Insider Transactions at Ross Stores

In other Ross Stores news, CMO Karen Sykes sold 4,000 shares of the firm's stock in a transaction dated 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 directly owned 106,413 shares in the company, valued at $16,149,236.88. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of Ross Stores from $128.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Friday, August 22nd. Wells Fargo & Company lifted their price target on Ross Stores from $165.00 to $175.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Cowen restated a "buy" rating on shares of Ross Stores in a report on Friday, August 22nd. JPMorgan Chase & Co. upped their price objective on Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Finally, UBS Group increased their price target on Ross Stores from $144.00 to $147.00 and gave the company a "neutral" 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 stock. Based on data from MarketBeat, Ross Stores currently has an average rating of "Moderate Buy" and a consensus target price 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.