Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. decreased its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 29.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 913,979 shares of the apparel retailer’s stock after selling 383,267 shares during the period. Eagle Asset Management Inc.’s holdings in Ross Stores were worth $131,065,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ROST. Charles Schwab Investment Management Inc. increased its stake in shares of Ross Stores by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,899,271 shares of the apparel retailer’s stock worth $285,859,000 after buying an additional 12,962 shares during the last quarter. Banco Santander S.A. acquired a new position in Ross Stores in the third quarter worth $7,188,000. Intech Investment Management LLC increased its stake in Ross Stores by 63.1% during the third quarter. Intech Investment Management LLC now owns 15,120 shares of the apparel retailer’s stock valued at $2,276,000 after purchasing an additional 5,848 shares during the last quarter. Cornerstone Advisors LLC raised its holdings in shares of Ross Stores by 21.6% during the third quarter. Cornerstone Advisors LLC now owns 14,100 shares of the apparel retailer’s stock worth $2,122,000 after purchasing an additional 2,500 shares during the period. Finally, Bellwether Advisors LLC lifted its position in shares of Ross Stores by 66.6% in the 3rd quarter. Bellwether Advisors LLC now owns 23,628 shares of the apparel retailer’s stock worth $3,556,000 after buying an additional 9,444 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ROST has been the subject of a number of recent research reports. StockNews.com downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday. UBS Group increased their price target on Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Morgan Stanley increased their target price on Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. TD Cowen decreased their price target on Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Bank of America raised their price target on Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Ross Stores has a consensus rating of “Moderate Buy” and an average target price of $169.50.

Insider Buying and Selling

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

Ross Stores Trading Up 2.4 %

NASDAQ:ROST opened at $142.64 on Friday. The stock’s 50-day moving average is $145.32 and its two-hundred day moving average is $144.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05. The stock has a market cap of $47.32 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09. Ross Stores, Inc. has a fifty-two week low of $127.53 and a fifty-two week high of $163.60.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.07. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter last year, the business posted $1.33 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, equities research analysts forecast that Ross Stores, Inc. will post 6.11 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a $0.3675 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.47 annualized dividend and a dividend yield of 1.03%. Ross Stores’s payout ratio is 23.71%.

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.