Teza Capital Management LLC Lowers Stock Holdings in Ross Stores, Inc. $ROST

Key Points

• Teza Capital Management LLC has significantly reduced its stake in Ross Stores, Inc., cutting its holdings by 91.0% to just 2,746 shares, valued at $351,000.
• Several hedge funds have increased their positions in Ross Stores, with notable increases including Bayforest Capital Ltd. boosting its holdings by 372.5%.
• A number of analysts have upgraded their ratings for Ross Stores, with target prices reaching up to $160.00, indicating positive sentiment around the stock's growth potential.

Teza Capital Management LLC cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 91.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,746 shares of the apparel retailer's stock after selling 27,602 shares during the period. Teza Capital Management LLC's holdings in Ross Stores were worth $351,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ROST. Golden State Wealth Management LLC grew its holdings in shares of Ross Stores by 50.7% in the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock valued at $28,000 after purchasing an additional 73 shares in the last quarter. Bayforest Capital Ltd boosted its position in Ross Stores by 372.5% in the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock valued at $31,000 after buying an additional 190 shares during the period. Banque Transatlantique SA acquired a new position in shares of Ross Stores in the first quarter worth $29,000. Tradewinds Capital Management LLC increased its position in shares of Ross Stores by 36.6% during the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock worth $36,000 after acquiring an additional 75 shares during the period. Finally, Putney Financial Group LLC purchased a new stake in shares of Ross Stores during the fourth quarter worth $44,000. Institutional investors and hedge funds own 86.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ROST shares. Telsey Advisory Group reiterated a "market perform" rating and issued a $160.00 target price (up from $150.00) on shares of Ross Stores in a report on Monday, August 18th. Cowen reaffirmed a "buy" rating on shares of Ross Stores in a research report on Friday, August 22nd. Morgan Stanley boosted their price objective on Ross Stores from $128.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. upped their target price on shares of Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Finally, Loop Capital decreased their price target on shares of Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $160.67.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $151.57 on Tuesday. The firm has a market capitalization of $49.57 billion, a P/E ratio of 24.06, a P/E/G ratio of 2.90 and a beta of 1.15. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $158.69. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. The firm's 50 day moving average is $140.84 and its two-hundred day moving average is $137.87.

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

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $0.405 per share. 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 presently 25.71%.

Insider Activity

In other news, CMO Karen Sykes sold 4,000 shares of Ross Stores stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $151.76, for a total transaction of $607,040.00. Following the sale, the chief marketing officer owned 106,413 shares in the company, valued at approximately $16,149,236.88. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.20% of the company's stock.

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.

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