Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Tiaa Fsb

Posted by Defense World Staff on Jul 3rd, 2023

Tiaa Fsb decreased its stake in Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 15.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,853 shares of the apparel retailer’s stock after selling 1,275 shares during the period. Tiaa Fsb’s holdings in Ross Stores were worth $727,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Ross Stores by 0.8% in the third quarter. Vanguard Group Inc. now owns 27,845,099 shares of the apparel retailer’s stock valued at $2,346,507,000 after purchasing an additional 227,166 shares during the period. Geode Capital Management LLC lifted its stake in shares of Ross Stores by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 7,235,856 shares of the apparel retailer’s stock valued at $838,367,000 after purchasing an additional 120,161 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Ross Stores by 1.0% in the fourth quarter. Victory Capital Management Inc. now owns 5,318,339 shares of the apparel retailer’s stock valued at $617,300,000 after purchasing an additional 53,842 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Ross Stores by 45.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,987,407 shares of the apparel retailer’s stock valued at $578,889,000 after purchasing an additional 1,557,688 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Ross Stores by 84.6% in the fourth quarter. Morgan Stanley now owns 4,742,218 shares of the apparel retailer’s stock valued at $550,429,000 after purchasing an additional 2,173,922 shares during the period. Institutional investors and hedge funds own 86.89% of the company’s stock.

Wall Street Analyst Weigh In

ROST has been the subject of a number of research reports. Gordon Haskett cut shares of Ross Stores from a “buy” rating to an “accumulate” rating and set a $120.00 target price for the company. in a research report on Monday, June 26th. Robert W. Baird cut their target price on shares of Ross Stores from $130.00 to $125.00 in a research report on Friday, May 19th. Piper Sandler initiated coverage on shares of Ross Stores in a research report on Thursday. They set a “neutral” rating and a $112.00 target price for the company. StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ross Stores from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Monday, April 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.89.

Ross Stores Price Performance

Ross Stores stock opened at $112.13 on Monday. Ross Stores, Inc. has a 1 year low of $69.24 and a 1 year high of $122.44. The firm has a 50 day moving average price of $105.03 and a 200 day moving average price of $109.36. The company has a market cap of $38.35 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.17 and a beta of 0.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.27 and a current ratio of 1.86.

Ross Stores (NASDAQ:ROST – Free Report) last released 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. Ross Stores had a net margin of 8.19% and a return on equity of 36.62%. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the previous year, the firm earned $0.97 earnings per share. Ross Stores’s revenue was up 3.7% compared to the same quarter last year. Sell-side analysts predict that Ross Stores, Inc. will post 4.93 earnings per share for the current year.

Ross Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Tuesday, June 6th were paid a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, June 5th. This represents a $1.34 annualized dividend and a yield of 1.20%. Ross Stores’s dividend payout ratio is currently 29.71%.

Insiders Place Their Bets

In other Ross Stores news, CEO Barbara Rentler sold 30,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 337,233 shares in the company, valued at $34,529,286.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Michael K. Kobayashi sold 12,221 shares of the company’s stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $106.00, for a total value of $1,295,426.00. Following the completion of the transaction, the insider now directly owns 96,486 shares in the company, valued at $10,227,516. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Barbara Rentler sold 30,000 shares of the company’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 completion of the transaction, the chief executive officer now owns 337,233 shares of the company’s stock, valued at $34,529,286.87. The disclosure for this sale can be found here. Insiders sold a total of 54,087 shares of company stock worth $5,583,866 over the last ninety days. 2.00% of the stock is owned by company insiders.

Ross Stores Profile

(Free Report)

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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.