Kentucky Retirement Systems Insurance Trust Fund Sells 939 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 8.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,876 shares of the apparel retailer’s stock after selling 939 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Ross Stores were worth $1,486,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ross Stores during the second quarter worth $27,000. SJS Investment Consulting Inc. lifted its stake in Ross Stores by 262.1% in the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in shares of Ross Stores during the second quarter valued at about $32,000. Armstrong Advisory Group Inc. bought a new stake in shares of Ross Stores in the third quarter worth about $33,000. Finally, Crewe Advisors LLC lifted its position in shares of Ross Stores by 97.8% in the second quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock worth $40,000 after buying an additional 136 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Down 1.2 %

Shares of ROST opened at $140.69 on Friday. The firm has a fifty day moving average price of $146.18 and a 200-day moving average price of $144.21. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $46.68 billion, a P/E ratio of 22.69, a P/E/G ratio of 2.31 and a beta of 1.09. Ross Stores, Inc. has a 12-month low of $119.73 and a 12-month high of $163.60.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same period in the prior year, the firm earned $1.32 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts expect that Ross Stores, Inc. will post 6.11 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were issued a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Tuesday, September 10th. Ross Stores’s dividend payout ratio is 23.71%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ROST. Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Friday, November 8th. UBS Group upped their price target on shares of Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. TD Cowen lifted their price objective on shares of Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Bank of America upped their target price on shares of Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ross Stores currently has an average rating of “Moderate Buy” and an average target price of $170.00.

Insiders Place Their Bets

In other news, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the sale, the chief operating officer now owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. This represents a 7.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Barbara Rentler sold 48,885 shares of Ross Stores stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares in the company, valued at approximately $48,003,532.29. The trade was a 13.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,138 shares of company stock worth $11,093,051. 2.10% of the stock is currently owned by company insiders.

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.