Forsta AP Fonden Has $9.03 Million Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Forsta AP Fonden reduced its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 9.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,129 shares of the apparel retailer’s stock after selling 6,600 shares during the quarter. Forsta AP Fonden’s holdings in Ross Stores were worth $9,029,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American International Group Inc. grew its position in Ross Stores by 2.4% in the fourth quarter. American International Group Inc. now owns 124,424 shares of the apparel retailer’s stock valued at $17,219,000 after purchasing an additional 2,969 shares in the last quarter. PGGM Investments grew its holdings in shares of Ross Stores by 724.1% in the 2nd quarter. PGGM Investments now owns 24,848 shares of the apparel retailer’s stock valued at $3,611,000 after acquiring an additional 21,833 shares in the last quarter. Commerce Bank increased its position in shares of Ross Stores by 232.6% in the fourth quarter. Commerce Bank now owns 32,182 shares of the apparel retailer’s stock valued at $4,454,000 after acquiring an additional 22,506 shares during the last quarter. Bank of Nova Scotia increased its position in shares of Ross Stores by 1,194.4% in the fourth quarter. Bank of Nova Scotia now owns 411,164 shares of the apparel retailer’s stock valued at $56,899,000 after acquiring an additional 379,398 shares during the last quarter. Finally, Perpetual Ltd bought a new stake in Ross Stores during the first quarter worth about $1,483,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ross Stores

In related news, Chairman Michael Balmuth sold 14,887 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total value of $2,266,099.14. Following the completion of the sale, the chairman now directly owns 11,133 shares in the company, valued at $1,694,665.26. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman Michael Balmuth sold 14,887 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $152.22, for a total value of $2,266,099.14. Following the completion of the transaction, the chairman now owns 11,133 shares of the company’s stock, valued at $1,694,665.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the sale, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at approximately $48,003,532.29. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays raised their price target on Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. UBS Group boosted their target price on shares of Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Wells Fargo & Company upped their price target on shares of Ross Stores from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Gordon Haskett raised shares of Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, Loop Capital upped their target price on shares of Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ross Stores currently has an average rating of “Moderate Buy” and a consensus price target of $169.71.

Ross Stores Stock Performance

NASDAQ:ROST opened at $155.25 on Friday. The stock has a 50 day simple moving average of $146.85 and a 200 day simple moving average of $143.04. The stock has a market cap of $51.79 billion, a P/E ratio of 26.18, a PEG ratio of 2.46 and a beta of 1.09. Ross Stores, Inc. has a 1-year low of $108.35 and a 1-year high of $163.60. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.25 billion. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.32 earnings per share. Research analysts anticipate that Ross Stores, Inc. will post 6.2 earnings per share for the current year.

Ross Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.3675 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 0.95%. Ross Stores’s payout ratio is presently 24.79%.

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.