Sciencast Management LP Buys 1,945 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Sciencast Management LP raised its position in Ross Stores, Inc. (NASDAQ:ROST) by 17.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,221 shares of the apparel retailer’s stock after acquiring an additional 1,945 shares during the quarter. Ross Stores accounts for about 1.2% of Sciencast Management LP’s investment portfolio, making the stock its 7th largest holding. Sciencast Management LP’s holdings in Ross Stores were worth $1,940,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ROST. Schroder Investment Management Group grew its stake in Ross Stores by 6.3% during the 3rd quarter. Schroder Investment Management Group now owns 55,393 shares of the apparel retailer’s stock valued at $6,257,000 after purchasing an additional 3,280 shares in the last quarter. Creative Planning boosted its stake in shares of Ross Stores by 12.4% during the 3rd quarter. Creative Planning now owns 53,463 shares of the apparel retailer’s stock valued at $6,039,000 after buying an additional 5,884 shares during the last quarter. Diversified Trust Co grew its position in shares of Ross Stores by 72.3% during the third quarter. Diversified Trust Co now owns 7,399 shares of the apparel retailer’s stock worth $836,000 after buying an additional 3,104 shares in the last quarter. Comerica Bank increased its stake in shares of Ross Stores by 620.1% in the third quarter. Comerica Bank now owns 80,997 shares of the apparel retailer’s stock worth $9,149,000 after buying an additional 69,749 shares during the last quarter. Finally, Graham Capital Management L.P. acquired a new stake in Ross Stores in the third quarter valued at $2,691,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Performance

ROST stock traded up $0.93 during trading on Friday, reaching $151.73. 1,648,612 shares of the company’s stock were exchanged, compared to its average volume of 2,264,619. The firm has a market cap of $50.61 billion, a PE ratio of 25.59, a P/E/G ratio of 2.59 and a beta of 1.08. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 0.31. Ross Stores, Inc. has a 1-year low of $108.35 and a 1-year high of $153.06. The company’s fifty day moving average price is $141.78 and its 200-day moving average price is $141.15.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.83 billion. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. During the same quarter in the prior year, the firm posted $1.09 EPS. Ross Stores’s revenue was up 8.1% compared to the same quarter last year. On average, research analysts expect that Ross Stores, Inc. will post 5.97 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were paid a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Tuesday, June 11th. Ross Stores’s dividend payout ratio is presently 24.79%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Ross Stores from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Telsey Advisory Group reissued a “market perform” rating and issued a $160.00 price objective on shares of Ross Stores in a report on Friday, June 14th. Morgan Stanley upped their price objective on Ross Stores from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Barclays lifted their target price on Ross Stores from $163.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Finally, TD Cowen upped their price target on Ross Stores from $173.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $159.06.

Insider Activity

In other news, Director Patricia H. Mueller sold 941 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total transaction of $130,206.17. Following the completion of the transaction, the director now owns 973 shares in the company, valued at approximately $134,634.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

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.