Ross Stores, Inc. (NASDAQ:ROST) Position Reduced by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 3.0% during the first quarter, HoldingsChannel reports. The fund owned 22,225 shares of the apparel retailer’s stock after selling 698 shares during the quarter. Kentucky Retirement Systems’ holdings in Ross Stores were worth $2,840,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. North Point Portfolio Managers Corp OH lifted its position in shares of Ross Stores by 0.7% during the first quarter. North Point Portfolio Managers Corp OH now owns 94,444 shares of the apparel retailer’s stock worth $12,069,000 after purchasing an additional 632 shares during the last quarter. Heartland Bank & Trust Co lifted its stake in Ross Stores by 19.5% during the first quarter. Heartland Bank & Trust Co now owns 2,375 shares of the apparel retailer’s stock worth $304,000 after purchasing an additional 388 shares during the last quarter. Canoe Financial LP lifted its position in shares of Ross Stores by 7.0% in the 1st quarter. Canoe Financial LP now owns 680,994 shares of the apparel retailer’s stock worth $87,024,000 after buying an additional 44,437 shares during the last quarter. Institute for Wealth Management LLC. bought a new position in shares of Ross Stores in the 1st quarter worth about $360,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Ross Stores by 2.2% in the 1st quarter. State of Alaska Department of Revenue now owns 38,663 shares of the apparel retailer’s stock worth $4,940,000 after buying an additional 835 shares during the last quarter. Institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Up 0.2%

ROST opened at $127.87 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.55. The company has a market capitalization of $41.82 billion, a PE ratio of 20.20, a P/E/G ratio of 2.68 and a beta of 1.14. The stock’s fifty day moving average is $140.66 and its 200-day moving average is $141.30. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $163.60.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 EPS for the quarter, topping the consensus estimate of $1.44 by $0.03. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The firm had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.94 billion. During the same period in the previous year, the business earned $1.46 earnings per share. Ross Stores’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.27%. Ross Stores’s payout ratio is currently 25.59%.

Analyst Ratings Changes

ROST has been the topic of a number of recent research reports. BMO Capital Markets cut their target price on shares of Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Wells Fargo & Company dropped their price target on Ross Stores from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, May 23rd. JPMorgan Chase & Co. boosted their price objective on Ross Stores from $141.00 to $154.00 and gave the company an “overweight” rating in a research report on Friday, June 13th. Citigroup upgraded Ross Stores from a “neutral” rating to a “buy” rating and set a $146.00 price objective for the company in a research note on Thursday, April 3rd. Finally, Robert W. Baird cut their target price on Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Ross Stores presently has an average rating of “Moderate Buy” and a consensus price target of $159.53.

Insider Activity at Ross Stores

In other news, CMO Karen Sykes sold 5,036 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $130.48, for a total transaction of $657,097.28. Following the completion of the sale, the chief marketing officer now directly owns 110,365 shares of the company’s stock, valued at $14,400,425.20. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Karen Fleming sold 5,270 shares of Ross Stores stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $127.70, for a total value of $672,979.00. Following the completion of the transaction, the chief marketing officer now directly owns 93,126 shares in the company, valued at $11,892,190.20. This represents a 5.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,567 shares of company stock valued at $2,812,024 over the last ninety days. Insiders own 2.20% of the company’s stock.

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.