Atria Investments LLC lessened its stake in Ross Stores, Inc. (NASDAQ:ROST – Get Rating) by 13.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 21,091 shares of the apparel retailer’s stock after selling 3,264 shares during the period. Atria Investments LLC’s holdings in Ross Stores were worth $1,908,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. lifted its stake in shares of Ross Stores by 0.7% in the 4th quarter. BlackRock Inc. now owns 27,907,603 shares of the apparel retailer’s stock valued at $3,189,279,000 after purchasing an additional 197,944 shares during the period. State Street Corp lifted its stake in shares of Ross Stores by 5.1% in the 4th quarter. State Street Corp now owns 17,026,336 shares of the apparel retailer’s stock valued at $1,945,770,000 after purchasing an additional 827,119 shares during the period. Geode Capital Management LLC raised its stake in Ross Stores by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 5,769,402 shares of the apparel retailer’s stock worth $657,377,000 after buying an additional 171,638 shares during the period. JPMorgan Chase & Co. raised its stake in Ross Stores by 93.3% during the 4th quarter. JPMorgan Chase & Co. now owns 4,865,310 shares of the apparel retailer’s stock worth $556,007,000 after buying an additional 2,348,436 shares during the period. Finally, Northern Trust Corp raised its stake in Ross Stores by 0.8% during the 4th quarter. Northern Trust Corp now owns 3,873,407 shares of the apparel retailer’s stock worth $442,653,000 after buying an additional 32,275 shares during the period. 87.02% of the stock is owned by institutional investors and hedge funds.
Ross Stores Trading Down 0.4 %
NASDAQ ROST opened at $83.24 on Monday. The stock’s 50-day simple moving average is $78.93 and its two-hundred day simple moving average is $89.94. Ross Stores, Inc. has a twelve month low of $69.24 and a twelve month high of $127.34. The company has a quick ratio of 1.16, a current ratio of 1.88 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $29.13 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.79 and a beta of 0.99.
Ross Stores Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Tuesday, June 7th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, June 6th. This represents a $1.24 dividend on an annualized basis and a yield of 1.49%. Ross Stores’s payout ratio is 27.62%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. StockNews.com started coverage on Ross Stores in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Wells Fargo & Company lowered their price objective on Ross Stores from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, May 20th. Citigroup reduced their target price on Ross Stores from $125.00 to $100.00 and set a “buy” rating for the company in a report on Friday, May 20th. Credit Suisse Group reduced their target price on Ross Stores from $125.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, May 20th. Finally, Telsey Advisory Group lowered Ross Stores from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $145.00 to $80.00 in a report on Friday, May 20th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.76.
Insider Buying and Selling at Ross Stores
In other news, Director Michael J. Bush sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $81.46, for a total transaction of $81,460.00. Following the transaction, the director now directly owns 34,496 shares of the company’s stock, valued at $2,810,044.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.90% 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. 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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.
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