TimesSquare Capital Management LLC Has $76.27 Million Stock Position in Ross Stores, Inc. $ROST

Key Points

• TimesSquare Capital Management trimmed its Ross Stores stake by 20.8% in the fourth quarter, but still held 423,368 shares valued at about $76.3 million at quarter end.
• Insiders sold shares over the past three months, including CMO Karen Sykes and Director Patricia H. Mueller, with total insider sales reaching 25,756 shares worth about $5.5 million.
• Analysts remain broadly positive on ROST: the stock has a Moderate Buy consensus, an average price target of $218.56, and recent reports from Truist, Goldman Sachs, Citigroup, UBS, and Guggenheim were mostly constructive.

TimesSquare Capital Management LLC reduced its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 20.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,368 shares of the apparel retailer's stock after selling 110,879 shares during the period. Ross Stores makes up approximately 1.1% of TimesSquare Capital Management LLC's investment portfolio, making the stock its 28th biggest position. TimesSquare Capital Management LLC owned 0.13% of Ross Stores worth $76,266,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Ross Stores by 7,000.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 142 shares of the apparel retailer's stock worth $26,000 after buying an additional 140 shares in the last quarter. City Holding Co. increased its holdings in shares of Ross Stores by 1,080.0% during the fourth quarter. City Holding Co. now owns 177 shares of the apparel retailer's stock worth $32,000 after buying an additional 162 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in shares of Ross Stores during the third quarter worth $29,000. JFS Wealth Advisors LLC increased its holdings in shares of Ross Stores by 42.6% during the fourth quarter. JFS Wealth Advisors LLC now owns 211 shares of the apparel retailer's stock worth $38,000 after buying an additional 63 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its holdings in shares of Ross Stores by 89.0% during the fourth quarter. Salomon & Ludwin LLC now owns 223 shares of the apparel retailer's stock worth $42,000 after buying an additional 105 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ross Stores

In related news, CMO Karen Sykes sold 5,506 shares of the firm's stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $213.40, for a total value of $1,174,980.40. Following the transaction, the chief marketing officer owned 104,648 shares of the company's stock, valued at approximately $22,331,883.20. This trade represents a 5.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia H. Mueller sold 1,881 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $213.13, for a total transaction of $400,897.53. Following the completion of the transaction, the director directly owned 2,159 shares in the company, valued at approximately $460,147.67. The trade was a 46.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 25,756 shares of company stock valued at $5,521,004 over the last three months. Corporate insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ROST. Truist Financial began coverage on shares of Ross Stores in a research report on Monday. They set a "buy" rating and a $270.00 price target on the stock. The Goldman Sachs Group upped their price target on shares of Ross Stores from $214.00 to $244.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Citigroup upped their price target on shares of Ross Stores from $240.00 to $261.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. UBS Group upped their price target on shares of Ross Stores from $208.00 to $227.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Guggenheim reissued a "buy" rating and set a $290.00 price objective on shares of Ross Stores in a research report on Monday, April 27th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $218.56.

Ross Stores Price Performance

ROST stock opened at $211.08 on Tuesday. The stock has a market capitalization of $68.00 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 2.89 and a beta of 0.87. The company's 50-day moving average is $218.41 and its 200-day moving average is $195.57. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.04. Ross Stores, Inc. has a 1 year low of $124.49 and a 1 year high of $231.16.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.10. The company had revenue of $6.64 billion for the quarter, compared to analysts' expectations of $6.42 billion. Ross Stores had a net margin of 9.43% and a return on equity of 36.70%. The business's revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 EPS. Equities research analysts expect that Ross Stores, Inc. will post 7.33 EPS for the current fiscal year.

Ross Stores Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $0.445 per share. The ex-dividend date of this dividend was Friday, March 13th. This is a boost from Ross Stores's previous quarterly dividend of $0.41. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. Ross Stores's payout ratio is presently 26.93%.

Ross Stores News Summary

Here are the key news stories impacting Ross Stores this week:

• Positive Sentiment: Truist Securities initiated coverage of Ross Stores (ROST) with a Buy rating and a $270 price target, highlighting the retailer as one of its favored names in the off-price/vertical retail space. Article Title
• Positive Sentiment: JPMorgan raised its price target on Ross Stores (ROST) to $251 from $248 and kept an Overweight rating, implying further upside if earnings remain solid. Article Title
• Positive Sentiment: Analysts and preview articles say Ross Stores is heading into Q1 results with expectations for double-digit sales and EPS growth, supported by strong traffic, merchandising execution, and store expansion. Article Title
• Neutral Sentiment: Wall Street is also focusing on the upcoming earnings release, with investors watching key metrics for confirmation that momentum in the business is continuing. Article Title
• Neutral Sentiment: Erste Group Bank reportedly boosted its FY2027 EPS estimate for Ross Stores (ROST), adding to the generally constructive analyst backdrop, though this is less immediately market-moving than the new buy ratings. Article Title

About Ross Stores

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.

Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.