Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Position in Ross Stores, Inc. $ROST

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd has increased its stake in Ross Stores, Inc. by 10.5%, totaling 41,915 shares valued at approximately $5.35 million.
• Ross Stores recently reported earnings of $1.56 per share for the quarter, surpassing estimates, with a net margin of 9.60% and revenue of $5.53 billion.
• The company has declared a quarterly dividend of $0.405 per share, which will be paid on September 30th, representing an annual yield of 1.1%.

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 10.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,915 shares of the apparel retailer's stock after purchasing an additional 3,982 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Ross Stores were worth $5,348,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vident Advisory LLC boosted its position in Ross Stores by 4.6% in the 4th quarter. Vident Advisory LLC now owns 6,466 shares of the apparel retailer's stock valued at $978,000 after buying an additional 282 shares during the last quarter. Woodline Partners LP purchased a new position in Ross Stores in the fourth quarter valued at about $3,014,000. Focus Partners Advisor Solutions LLC boosted its holdings in Ross Stores by 12.8% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 5,640 shares of the apparel retailer's stock valued at $853,000 after purchasing an additional 639 shares during the last quarter. Vise Technologies Inc. boosted its holdings in Ross Stores by 82.7% in the fourth quarter. Vise Technologies Inc. now owns 6,612 shares of the apparel retailer's stock valued at $1,000,000 after purchasing an additional 2,993 shares during the last quarter. Finally, GTS Securities LLC boosted its holdings in Ross Stores by 267.0% in the fourth quarter. GTS Securities LLC now owns 1,927 shares of the apparel retailer's stock valued at $291,000 after purchasing an additional 3,081 shares during the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Trading Up 0.1%

Ross Stores stock opened at $146.18 on Friday. The firm's 50-day moving average is $143.84 and its 200-day moving average is $138.50. 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, Inc. has a 1 year low of $122.36 and a 1 year high of $158.69. The company has a market cap of $47.54 billion, a P/E ratio of 23.20, a PEG ratio of 2.81 and a beta of 1.15.

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

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $1.62 annualized dividend and a dividend yield of 1.1%. Ross Stores's dividend payout ratio (DPR) is 25.71%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Jefferies Financial Group upgraded shares of Ross Stores from a "hold" rating to a "buy" rating and increased their price objective for the company from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Morgan Stanley increased their price objective on shares of Ross Stores from $128.00 to $130.00 and gave the company an "equal weight" rating in a research note on Friday, August 22nd. Loop Capital reduced their price objective on shares of Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Finally, Wells Fargo & Company increased their price target on shares of Ross Stores from $165.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $160.67.

Insider Transactions at Ross Stores

In related news, CMO Karen Sykes sold 4,000 shares of Ross Stores 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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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