Slow Capital Inc. Sells 6,695 Shares of Ross Stores, Inc. $ROST

Key Points

• Slow Capital Inc. reduced its stake in Ross Stores by 10.6%, selling 6,695 shares and now holding 56,510 shares valued at about $10.18 million, which represents 1.2% of Slow Capital’s portfolio and its 20th largest position.
• Company insiders executed sizable sales: COO Michael J. Hartshorn sold 15,813 shares for roughly $3.40 million and CMO Karen Sykes sold 5,506 shares for about $1.17 million, with insiders selling 25,756 shares (~$5.52M) over the last quarter and now owning 2.20% of the stock.
• Ross reported a quarter beat with $2.00 EPS vs. $1.90 expected and $6.64B revenue (+12.2% YoY), and analysts have raised targets (e.g., Goldman to $244, Citi to $240), leaving a consensus rating of Moderate Buy and an average target of $208.29.

Slow Capital Inc. lessened its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 10.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 56,510 shares of the apparel retailer's stock after selling 6,695 shares during the period. Ross Stores accounts for 1.2% of Slow Capital Inc.'s portfolio, making the stock its 20th largest position. Slow Capital Inc.'s holdings in Ross Stores were worth $10,180,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American National Bank & Trust bought a new position in shares of Ross Stores in the 3rd quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Ross Stores by 7,000.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 142 shares of the apparel retailer's stock valued at $26,000 after purchasing an additional 140 shares during the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in Ross Stores in the third quarter valued at about $29,000. City Holding Co. lifted its stake in Ross Stores by 1,080.0% in the fourth quarter. City Holding Co. now owns 177 shares of the apparel retailer's stock valued at $32,000 after buying an additional 162 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in Ross Stores by 162.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer's stock worth $36,000 after buying an additional 148 shares during the last quarter. Institutional investors own 86.86% of the company's stock.

Insider Activity

In other news, COO Michael J. Hartshorn sold 15,813 shares of the stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $214.91, for a total transaction of $3,398,371.83. Following the completion of the sale, the chief operating officer owned 116,028 shares of the company's stock, valued at $24,935,577.48. This represents a 11.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Karen Sykes sold 5,506 shares of the firm's stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $213.40, for a total transaction of $1,174,980.40. Following the sale, the chief marketing officer owned 104,648 shares in the company, valued at approximately $22,331,883.20. The trade was a 5.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 25,756 shares of company stock worth $5,521,004 over the last quarter. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ROST has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price on Ross Stores from $214.00 to $244.00 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. Citigroup increased their price target on shares of Ross Stores from $224.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. UBS Group set a $208.00 price objective on shares of Ross Stores in a report on Thursday, March 5th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $240.00 target price on shares of Ross Stores in a research note on Thursday, March 26th. Finally, Deutsche Bank Aktiengesellschaft set a $221.00 target price on shares of Ross Stores in a report on Thursday, January 8th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Ross Stores currently has a consensus rating of "Moderate Buy" and an average target price of $208.29.

Ross Stores Stock Down 1.0%

Shares of Ross Stores stock opened at $221.97 on Friday. The company has a market capitalization of $71.51 billion, a P/E ratio of 33.58, a price-to-earnings-growth ratio of 3.05 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.04. The business has a 50-day moving average of $209.33 and a two-hundred day moving average of $185.55. Ross Stores, Inc. has a 1 year low of $124.49 and a 1 year high of $226.63.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The apparel retailer reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.10. Ross Stores had a return on equity of 36.70% and a net margin of 9.43%.The business had revenue of $6.64 billion for the quarter, compared to analysts' expectations of $6.42 billion. During the same quarter in the previous year, the business posted $1.65 EPS. Ross Stores's revenue for the quarter was up 12.2% on a year-over-year basis. As a group, equities analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were paid a $0.445 dividend. The ex-dividend date of this dividend was Friday, March 13th. This is an increase from Ross Stores's previous quarterly dividend of $0.41. This represents a $1.78 dividend on an annualized basis and a yield of 0.8%. Ross Stores's payout ratio is presently 26.93%.

Ross Stores Profile

Ross Stores, Inc NASDAQ: ROST is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd's DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross's business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.

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