MQS Management LLC Decreases Holdings in Ross Stores, Inc. (NASDAQ:ROST)

MQS Management LLC trimmed its position in Ross Stores, Inc. (NASDAQ:ROST) by 54.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,870 shares of the apparel retailer’s stock after selling 3,486 shares during the period. MQS Management LLC’s holdings in Ross Stores were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. American International Group Inc. boosted its position in shares of Ross Stores by 2.4% in the 4th quarter. American International Group Inc. now owns 124,424 shares of the apparel retailer’s stock worth $17,219,000 after purchasing an additional 2,969 shares in the last quarter. PGGM Investments boosted its holdings in Ross Stores by 724.1% in the second quarter. PGGM Investments now owns 24,848 shares of the apparel retailer’s stock worth $3,611,000 after acquiring an additional 21,833 shares in the last quarter. Commerce Bank grew its stake in shares of Ross Stores by 232.6% during the fourth quarter. Commerce Bank now owns 32,182 shares of the apparel retailer’s stock worth $4,454,000 after acquiring an additional 22,506 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of Ross Stores by 1,194.4% during 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 in the last quarter. Finally, Perpetual Ltd purchased a new position in shares of Ross Stores in the 1st quarter valued at approximately $1,483,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. Telsey Advisory Group lifted their price target on Ross Stores from $160.00 to $175.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Loop Capital increased their price objective on Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Barclays lifted their target price on Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Robert W. Baird increased their price target on shares of Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $169.71.

Insider Activity

In related news, Chairman Michael Balmuth sold 14,887 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were 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 owns 11,133 shares of the company’s stock, valued at approximately $1,694,665.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Chairman Michael Balmuth sold 14,887 shares of Ross Stores stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $152.22, for a total value of $2,266,099.14. Following the sale, the chairman now owns 11,133 shares in the company, valued at $1,694,665.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michael J. Hartshorn sold 8,366 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the sale, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. The disclosure for this sale can be found here. Insiders have sold 72,138 shares of company stock worth $11,093,051 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Stock Up 2.5 %

ROST opened at $154.44 on Friday. The company has a fifty day moving average of $147.18 and a two-hundred day moving average of $143.11. The stock has a market capitalization of $51.24 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 2.49 and a beta of 1.09. Ross Stores, Inc. has a fifty-two week low of $108.35 and a fifty-two week high of $163.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56.

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

Ross Stores Announces Dividend

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

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.