Washington Capital Management Inc. Lowers Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Washington Capital Management Inc. trimmed its position in Ross Stores, Inc. (NASDAQ:ROST) by 40.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,350 shares of the apparel retailer’s stock after selling 2,300 shares during the quarter. Washington Capital Management Inc.’s holdings in Ross Stores were worth $332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ROST. Bessemer Group Inc. lifted its stake in shares of Ross Stores by 524.7% during the 2nd quarter. Bessemer Group Inc. now owns 1,272,506 shares of the apparel retailer’s stock worth $126,132,000 after purchasing an additional 1,068,815 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of Ross Stores during the 1st quarter worth $49,087,000. Geode Capital Management LLC lifted its stake in shares of Ross Stores by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 6,088,490 shares of the apparel retailer’s stock worth $505,856,000 after purchasing an additional 456,445 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Ross Stores by 21.0% during the 1st quarter. California Public Employees Retirement System now owns 2,410,916 shares of the apparel retailer’s stock worth $224,456,000 after purchasing an additional 418,404 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Ross Stores by 83.6% during the 2nd quarter. First Trust Advisors LP now owns 842,895 shares of the apparel retailer’s stock worth $83,548,000 after purchasing an additional 383,891 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

NASDAQ:ROST traded down $4.45 during mid-day trading on Friday, hitting $102.95. 3,513,505 shares of the company’s stock traded hands, compared to its average volume of 1,830,910. The company has a fifty day moving average of $104.70 and a 200 day moving average of $98.03. Ross Stores, Inc. has a twelve month low of $75.91 and a twelve month high of $108.20. The company has a market capitalization of $39.17 billion, a P/E ratio of 24.17, a P/E/G ratio of 2.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.64 and a current ratio of 1.34.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 22nd. The apparel retailer reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.02. Ross Stores had a return on equity of 49.37% and a net margin of 10.46%. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the company posted $1.04 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts expect that Ross Stores, Inc. will post 4.49 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 12th will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Wednesday, September 11th. Ross Stores’s dividend payout ratio is currently 23.94%.

A number of brokerages recently weighed in on ROST. Citigroup upped their price objective on Ross Stores from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Friday. MKM Partners upped their price objective on Ross Stores from $102.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday. Robert W. Baird restated an “outperform” rating and set a $114.00 price objective (up from $108.00) on shares of Ross Stores in a research note on Friday. Goldman Sachs Group cut Ross Stores from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $102.00 to $91.00 in a research note on Thursday, June 27th. Finally, Wells Fargo & Co upped their price objective on Ross Stores from $104.00 to $116.00 and gave the stock an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Ross Stores currently has a consensus rating of “Buy” and an average target price of $104.67.

In other news, Chairman Michael Balmuth sold 81,049 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $92.87, for a total value of $7,527,020.63. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Barbara Rentler sold 40,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $99.16, for a total value of $3,966,400.00. Following the completion of the transaction, the chief executive officer now directly owns 473,922 shares in the company, valued at $46,994,105.52. The disclosure for this sale can be found here. Insiders have sold a total of 296,287 shares of company stock worth $29,806,735 over the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

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 brands. Its stores primarily offers 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 regular prices to customers from households with moderate income.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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