Chevy Chase Trust Holdings LLC Sells 6,769 Shares of Ross Stores, Inc. $ROST

Chevy Chase Trust Holdings LLC lowered its stake in Ross Stores, Inc. (NASDAQ:ROST) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 167,354 shares of the apparel retailer’s stock after selling 6,769 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Ross Stores worth $25,503,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. American National Bank & Trust acquired a new position in Ross Stores during the 3rd quarter worth $26,000. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Ross Stores in the 3rd quarter valued at $29,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Ross Stores by 162.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 148 shares during the last quarter. True Wealth Design LLC raised its holdings in Ross Stores by 152.0% during the 3rd quarter. True Wealth Design LLC now owns 257 shares of the apparel retailer’s stock worth $39,000 after purchasing an additional 155 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in Ross Stores during the 2nd quarter valued at about $38,000. Institutional investors own 86.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ROST shares. TD Cowen reaffirmed a “buy” rating on shares of Ross Stores in a research note on Thursday, December 4th. Jefferies Financial Group restated a “buy” rating and issued a $205.00 price objective on shares of Ross Stores in a report on Monday, December 1st. Wells Fargo & Company raised their price objective on shares of Ross Stores from $205.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Telsey Advisory Group raised shares of Ross Stores from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $220.00 to $240.00 in a report on Wednesday, March 4th. Finally, Barclays upped their price objective on Ross Stores from $205.00 to $221.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and an average price target of $208.29.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $207.96 on Tuesday. The firm has a market cap of $67.26 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 2.81 and a beta of 0.97. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $216.80. The stock’s 50-day moving average is $196.73 and its 200-day moving average is $174.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.04.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Tuesday, March 3rd. The apparel retailer reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.10. The business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.42 billion. Ross Stores had a net margin of 9.43% and a return on equity of 36.70%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 earnings per share. Equities analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a dividend of $0.445 per share. The ex-dividend date is Friday, March 13th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.9%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.41. Ross Stores’s dividend payout ratio (DPR) is currently 26.93%.

Insider Transactions at Ross Stores

In related news, Director Patricia H. Mueller sold 1,881 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $213.13, for a total transaction of $400,897.53. Following the sale, the director owned 2,159 shares in the company, valued at approximately $460,147.67. This represents a 46.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Karen Sykes sold 2,556 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $213.91, for a total value of $546,753.96. Following the transaction, the chief marketing officer directly owned 103,945 shares of the company’s stock, valued at $22,234,874.95. This trade represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.20% of the company’s stock.

Ross Stores Company Profile

Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.