United Services Automobile Association Takes $1.04 Million Position in Ross Stores, Inc. $ROST

Key Points

• United Services Automobile Association acquired a new stake in Ross Stores, valued at approximately $1.04 million with 8,256 shares purchased in the first quarter.
• Analysts have set varying price targets for Ross Stores, with a consensus target of $160.67 and a current average rating of "Moderate Buy".
• The company recently announced a quarterly dividend of $0.405 per share, representing a dividend yield of 1.1%, with the payment date set for September 30th.

United Services Automobile Association purchased a new stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,256 shares of the apparel retailer's stock, valued at approximately $1,035,000.

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

Analysts Set New Price Targets

Several brokerages have weighed in on ROST. Loop Capital dropped their price objective on Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Telsey Advisory Group reissued a "market perform" rating and set a $160.00 price target (up from $150.00) on shares of Ross Stores in a research note on Monday, August 18th. UBS Group increased their price objective on shares of Ross Stores from $144.00 to $147.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Robert W. Baird lifted their target price on shares of Ross Stores from $160.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, August 22nd. Finally, Wall Street Zen downgraded Ross Stores from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $160.67.

Insider Activity

In related news, CMO Karen Sykes sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total transaction of $607,040.00. Following the completion of the sale, the chief marketing officer directly owned 106,413 shares of the company's stock, valued at approximately $16,149,236.88. This represents a 3.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.20% of the company's stock.

Ross Stores Trading Up 0.4%

ROST opened at $151.57 on Tuesday. The firm's fifty day moving average is $140.84 and its two-hundred day moving average is $137.87. 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, Inc. has a twelve month low of $122.36 and a twelve month 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.

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

Ross Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 9th. Ross Stores's payout ratio is 25.71%.

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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