Ross Stores, Inc. (NASDAQ:ROST) Stock Position Trimmed by SRS Capital Advisors Inc.

Posted by Defense World Staff on Jun 17th, 2023

SRS Capital Advisors Inc. cut its position in Ross Stores, Inc. (NASDAQ:ROST – Get Rating) by 22.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,665 shares of the apparel retailer’s stock after selling 762 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Ross Stores were worth $309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New York State Common Retirement Fund raised its position in shares of Ross Stores by 1.6% during the 4th quarter. New York State Common Retirement Fund now owns 368,005 shares of the apparel retailer’s stock worth $42,714,000 after buying an additional 5,861 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Ross Stores by 12.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 741,248 shares of the apparel retailer’s stock worth $86,037,000 after purchasing an additional 80,914 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Ross Stores by 1.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,266 shares of the apparel retailer’s stock worth $843,000 after purchasing an additional 118 shares during the last quarter. UBS Group AG grew its stake in shares of Ross Stores by 312.9% in the 4th quarter. UBS Group AG now owns 396,873 shares of the apparel retailer’s stock worth $46,065,000 after purchasing an additional 300,743 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Ross Stores in the 3rd quarter worth approximately $15,344,000. 89.07% of the stock is currently owned by institutional investors.

Insider Transactions at Ross Stores

In other news, CAO Jeffrey P. Burrill sold 3,297 shares of the business’s stock in a transaction on Friday, March 31st. The shares were sold at an average price of $104.73, for a total value of $345,294.81. Following the completion of the sale, the chief accounting officer now directly owns 23,148 shares in the company, valued at $2,424,290.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Barbara Rentler sold 30,000 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $102.39, for a total transaction of $3,071,700.00. Following the transaction, the chief executive officer now owns 337,233 shares of the company’s stock, valued at $34,529,286.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jeffrey P. Burrill sold 3,297 shares of the business’s stock in a transaction on Friday, March 31st. The stock was sold at an average price of $104.73, for a total transaction of $345,294.81. Following the transaction, the chief accounting officer now directly owns 23,148 shares in the company, valued at approximately $2,424,290.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,384 shares of company stock worth $5,929,160. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ROST shares. Loop Capital lifted their price objective on shares of Ross Stores from $115.00 to $120.00 in a research note on Friday, May 19th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $123.00 price objective on shares of Ross Stores in a research note on Wednesday, March 1st. Citigroup lifted their price objective on shares of Ross Stores from $116.00 to $133.00 and gave the stock a “buy” rating in a research note on Tuesday, February 21st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Ross Stores from $121.00 to $120.00 in a research report on Wednesday, March 1st. Finally, Robert W. Baird dropped their target price on shares of Ross Stores from $130.00 to $125.00 in a research report on Friday, May 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.76.

Ross Stores Stock Performance

Shares of ROST opened at $107.84 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.27 and a current ratio of 1.86. The company has a market capitalization of $36.89 billion, a PE ratio of 23.91, a PEG ratio of 2.06 and a beta of 0.98. The company’s 50 day moving average price is $104.29 and its 200 day moving average price is $110.06. Ross Stores, Inc. has a 52 week low of $69.24 and a 52 week high of $122.44.

Ross Stores (NASDAQ:ROST – Get Rating) last posted its earnings results on Thursday, May 18th. The apparel retailer reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Ross Stores had a net margin of 8.19% and a return on equity of 36.62%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. Research analysts expect that Ross Stores, Inc. will post 4.91 EPS for the current fiscal year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Tuesday, June 6th will be paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, June 5th. Ross Stores’s payout ratio is 29.71%.

Ross Stores Profile

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Ross Stores, Inc engages in the operation of off-price retail apparel and home accessories stores. Its products include branded and designer apparel, accessories, footwear, and home fashions through the Dress for Less and dd’s DISCOUNTS brands. The company was founded by Stuart G. Moldaw in 1957 and is headquartered in Dublin, CA.