Shellback Capital LP Has $10.90 Million Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Shellback Capital LP lessened its position in Ross Stores, Inc. (NASDAQ:ROST) by 6.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,000 shares of the apparel retailer’s stock after selling 5,000 shares during the quarter. Shellback Capital LP’s holdings in Ross Stores were worth $10,899,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in Ross Stores during the 1st quarter valued at about $26,000. Rise Advisors LLC acquired a new stake in shares of Ross Stores during the first quarter worth approximately $27,000. SJS Investment Consulting Inc. grew its position in Ross Stores by 262.1% during the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in Ross Stores in the 2nd quarter valued at approximately $32,000. Finally, Raleigh Capital Management Inc. lifted its position in Ross Stores by 41.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock worth $35,000 after buying an additional 74 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Insider Activity at Ross Stores

In related news, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores 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 $16,038,546.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Chairman Michael Balmuth sold 14,887 shares of the 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores 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 sale, the chief operating officer now directly owns 103,049 shares in the company, valued at $16,038,546.36. The disclosure for this sale can be found here. Insiders sold a total of 72,138 shares of company stock worth $11,093,051 in the last ninety days. 2.10% of the stock is currently owned by insiders.

Ross Stores Stock Down 0.2 %

ROST stock opened at $152.82 on Friday. The stock has a market capitalization of $50.98 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 2.44 and a beta of 1.09. The company has a 50-day moving average of $147.45 and a two-hundred day moving average of $143.20. Ross Stores, Inc. has a 52-week low of $108.35 and a 52-week high of $163.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.09. The business had revenue of $5.29 billion during 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 firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.32 EPS. As a group, equities research analysts anticipate that Ross Stores, Inc. will post 6.2 EPS for the current year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be given a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Tuesday, September 10th. Ross Stores’s dividend payout ratio (DPR) is currently 24.79%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Loop Capital upped their price target on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. TD Cowen raised their price target on Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. UBS Group lifted their price target on Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Barclays raised their price objective on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company lifted their target price on shares of Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ross Stores has an average rating of “Moderate Buy” and a consensus price target of $169.71.

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.