UniSuper Management Pty Ltd Increases Stake in Ross Stores, Inc. $ROST

Key Points

• UniSuper Management Pty Ltd increased its stake in Ross Stores, Inc. by 10.3% during the first quarter, bringing its total holdings to 28,874 shares valued at approximately $3.69 million.
• Several institutional investors, such as Sowell Financial Services LLC and Aurdan Capital Management LLC, have also either purchased new stakes or increased their holdings in Ross Stores recently.
• Ross Stores reported earnings of $1.56 per share in its latest quarter, exceeding expectations, with a revenue of $5.53 billion and strong analyst ratings reflecting a consensus of "Moderate Buy."

UniSuper Management Pty Ltd raised its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 10.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,874 shares of the apparel retailer's stock after buying an additional 2,692 shares during the quarter. UniSuper Management Pty Ltd's holdings in Ross Stores were worth $3,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Sowell Financial Services LLC purchased a new stake in Ross Stores during the 1st quarter valued at approximately $328,000. Aurdan Capital Management LLC purchased a new stake in Ross Stores during the 4th quarter valued at approximately $8,516,000. Aurora Private Wealth Inc. bought a new stake in shares of Ross Stores in the first quarter worth about $1,476,000. MQS Management LLC bought a new stake in shares of Ross Stores in the first quarter worth about $630,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Ross Stores by 50.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 8,149 shares of the apparel retailer's stock worth $1,041,000 after purchasing an additional 2,750 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. Loop Capital reduced their target price on Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. Wells Fargo & Company raised their target price on shares of Ross Stores from $165.00 to $175.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Evercore ISI cut their target price on shares of Ross Stores from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. Finally, Telsey Advisory Group reissued 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. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.67.

Insider Buying and Selling

In other Ross Stores news, CMO Karen Sykes sold 4,000 shares of Ross Stores stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $151.76, for a total transaction of $607,040.00. Following the completion of the transaction, the chief marketing officer directly owned 106,413 shares of the company's stock, valued at $16,149,236.88. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by insiders.

Ross Stores Trading Up 0.4%

ROST stock opened at $151.57 on Tuesday. The firm has a fifty day moving average price of $140.84 and a 200 day moving average price of $137.87. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $158.69. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58. The firm has a market cap of $49.57 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 2.90 and a beta of 1.15.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.54 by $0.02. The company had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.54 billion. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. Ross Stores's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 earnings per share. Sell-side analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share 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 paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Ross Stores's payout ratio is presently 25.71%.

Ross Stores Company 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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