TD Asset Management Inc Sells 47,603 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Key Points

• TD Asset Management Inc reduced its holdings in Ross Stores by 5.6%, selling 47,603 shares to own 803,273 shares valued at $102.65 million.
• Analysts have mixed opinions on the stock, with **target price** adjustments ranging from $126.00 to $170.00, showing a consensus average target price of $158.94 and a "Moderate Buy" rating.
• Ross Stores reported a quarterly EPS of $1.47, surpassing expectations, along with a revenue of $4.98 billion, marking a 2.6% increase from the previous year.

TD Asset Management Inc trimmed its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 803,273 shares of the apparel retailer's stock after selling 47,603 shares during the quarter. TD Asset Management Inc owned 0.24% of Ross Stores worth $102,650,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in Ross Stores by 377.8% in the 1st quarter. Assetmark Inc. now owns 2,265 shares of the apparel retailer's stock worth $289,000 after buying an additional 1,791 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in Ross Stores by 7.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 15,085 shares of the apparel retailer's stock worth $1,928,000 after buying an additional 1,089 shares in the last quarter. Madison Asset Management LLC increased its holdings in Ross Stores by 5.7% in the 1st quarter. Madison Asset Management LLC now owns 1,607,872 shares of the apparel retailer's stock worth $205,470,000 after buying an additional 86,063 shares in the last quarter. Legato Capital Management LLC lifted its position in Ross Stores by 110.7% during the first quarter. Legato Capital Management LLC now owns 27,600 shares of the apparel retailer's stock valued at $3,527,000 after purchasing an additional 14,498 shares during the period. Finally, Somerville Kurt F purchased a new position in shares of Ross Stores in the 1st quarter worth $224,000. Institutional investors own 86.86% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating for the company in a research report on Friday, May 23rd. Wall Street Zen cut shares of Ross Stores from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Barclays lowered their price objective on shares of Ross Stores from $157.00 to $156.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. JPMorgan Chase & Co. lifted their target price on Ross Stores from $154.00 to $156.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Citigroup upgraded Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 target price on the stock in a research report on Thursday, April 3rd. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.06.

Ross Stores Price Performance

ROST stock traded up $2.49 during trading on Monday, hitting $140.82. The company had a trading volume of 2,687,617 shares, compared to its average volume of 3,126,583. The firm has a market capitalization of $46.06 billion, a price-to-earnings ratio of 22.25, a P/E/G ratio of 2.64 and a beta of 1.11. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average of $135.32 and a 200 day moving average of $137.77. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 EPS for the quarter, topping the consensus estimate of $1.44 by $0.03. The firm had revenue of $4.98 billion for the quarter, compared to analysts' expectations of $4.94 billion. Ross Stores had a return on equity of 38.77% and a net margin of 9.79%. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.46 earnings per share. As a group, research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were paid a $0.405 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $1.62 annualized dividend and a yield of 1.15%. Ross Stores's dividend payout ratio is presently 25.59%.

About Ross Stores

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.