Strs Ohio Invests $27.99 Million in Ross Stores, Inc. $ROST

Key Points

• Strs Ohio has invested approximately $27.99 million in Ross Stores, Inc., acquiring 219,000 shares during the first quarter, bringing their total ownership to 0.07% of the company.
• Ross Stores reported earnings per share (EPS) of $1.56 for the last quarter, which exceeded analysts' expectations of $1.54, achieving a 4.6% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.405 per share, resulting in an annualized yield of 1.1%, with the dividend payment scheduled for September 30.

Strs Ohio purchased a new stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 219,000 shares of the apparel retailer's stock, valued at approximately $27,986,000. Strs Ohio owned 0.07% of Ross Stores at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Ross Stores by 17.0% in the 1st quarter. Vanguard Group Inc. now owns 34,121,706 shares of the apparel retailer's stock valued at $4,360,413,000 after purchasing an additional 4,946,101 shares during the period. EdgePoint Investment Group Inc. grew its position in Ross Stores by 59.3% in the 1st quarter. EdgePoint Investment Group Inc. now owns 4,055,088 shares of the apparel retailer's stock valued at $518,200,000 after purchasing an additional 1,509,815 shares during the period. Invesco Ltd. grew its position in Ross Stores by 5.0% in the 1st quarter. Invesco Ltd. now owns 3,997,575 shares of the apparel retailer's stock valued at $510,850,000 after purchasing an additional 192,148 shares during the period. Royal Bank of Canada grew its position in Ross Stores by 69.6% in the 4th quarter. Royal Bank of Canada now owns 3,336,312 shares of the apparel retailer's stock valued at $504,684,000 after purchasing an additional 1,368,571 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Ross Stores by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,912,392 shares of the apparel retailer's stock valued at $372,134,000 after acquiring an additional 15,085 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company's stock.

Ross Stores Trading Up 1.2%

Shares of Ross Stores stock opened at $151.10 on Friday. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $158.69. The stock's 50-day simple moving average is $141.97 and its 200 day simple moving average is $138.13. The stock has a market capitalization of $49.42 billion, a P/E ratio of 23.98, a P/E/G ratio of 2.87 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58.

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

Ross Stores Dividend Announcement

The company also recently disclosed 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 is Tuesday, September 9th. Ross Stores's payout ratio is currently 25.71%.

Analyst Ratings Changes

Several brokerages have weighed in on ROST. Morgan Stanley raised their price objective on Ross Stores from $128.00 to $130.00 and gave the company an "equal weight" rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. raised their price objective on Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Wall Street Zen cut Ross Stores from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Evercore ISI dropped their price objective on Ross Stores from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. Finally, Barclays lifted their target price on Ross Stores from $156.00 to $164.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Ross Stores currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.67.

Insider Transactions at Ross Stores

In related news, CMO Karen Sykes sold 4,000 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $151.76, for a total value of $607,040.00. Following the sale, the chief marketing officer directly owned 106,413 shares in the company, valued at approximately $16,149,236.88. The trade was a 3.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company's stock.

Ross Stores 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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