Public Sector Pension Investment Board Boosts Stake in Ross Stores, Inc. (NASDAQ:ROST)

Public Sector Pension Investment Board increased its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 66.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,884 shares of the apparel retailer’s stock after acquiring an additional 5,131 shares during the period. Public Sector Pension Investment Board’s holdings in Ross Stores were worth $1,872,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Riverview Trust Co purchased a new stake in Ross Stores in the 1st quarter worth $26,000. Rise Advisors LLC purchased a new stake in shares of Ross Stores during the first quarter worth about $27,000. SJS Investment Consulting Inc. raised its position in shares of Ross Stores by 262.1% during 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 during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Ross Stores in the 2nd quarter valued at about $32,000. Finally, Raleigh Capital Management Inc. boosted its holdings 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 during the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Performance

NASDAQ ROST opened at $150.51 on Tuesday. The stock has a market cap of $50.21 billion, a PE ratio of 25.38, a P/E/G ratio of 2.47 and a beta of 1.09. Ross Stores, Inc. has a twelve month low of $110.02 and a twelve month high of $163.60. The stock has a fifty day simple moving average of $147.89 and a 200-day simple moving average of $143.29. 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 announced its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 9.82% and a return on equity of 42.43%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business earned $1.32 earnings per share. Equities analysts anticipate that Ross Stores, Inc. will post 6.2 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.3675 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.47 annualized dividend and a dividend yield of 0.98%. Ross Stores’s dividend payout ratio is currently 24.79%.

Insider Activity

In related news, COO Michael J. Hartshorn sold 8,366 shares of the 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 transaction, the chief operating officer now owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Barbara Rentler sold 48,885 shares of the firm’s 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 completion of the transaction, 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. Over the last ninety days, insiders sold 72,138 shares of company stock valued at $11,093,051. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ROST has been the subject of a number of research analyst reports. StockNews.com raised Ross Stores from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. UBS Group raised their price objective on Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Barclays upped their target price on shares of Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Bank of America raised their price target on shares of Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company upped their price objective 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 equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.