Livforsakringsbolaget Skandia Omsesidigt Has $254,000 Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Livforsakringsbolaget Skandia Omsesidigt lowered its stake in Ross Stores, Inc. (NASDAQ:ROST) by 26.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,987 shares of the apparel retailer’s stock after selling 700 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Ross Stores were worth $254,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in shares of Ross Stores by 152.9% during the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock worth $27,000 after purchasing an additional 107 shares during the period. BOK Financial Private Wealth Inc. acquired a new position in Ross Stores in the fourth quarter valued at $31,000. Putney Financial Group LLC acquired a new position in Ross Stores in the fourth quarter valued at $44,000. Cary Street Partners Financial LLC acquired a new position in Ross Stores in the fourth quarter valued at $48,000. Finally, Kestra Investment Management LLC acquired a new position in Ross Stores in the fourth quarter valued at $51,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Insider Activity

In related news, Chairman Michael Balmuth sold 11,261 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $131.60, for a total value of $1,481,947.60. Following the completion of the transaction, the chairman now directly owns 59,790 shares of the company’s stock, valued at approximately $7,868,364. This trade represents a 15.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael J. Hartshorn sold 7,492 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $127.69, for a total transaction of $956,653.48. Following the completion of the transaction, the chief operating officer now directly owns 139,091 shares of the company’s stock, valued at approximately $17,760,529.79. This trade represents a 5.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,398 shares of company stock valued at $4,439,950 in the last three months. Company insiders own 2.20% of the company’s stock.

Ross Stores Stock Down 1.5%

Ross Stores stock opened at $140.08 on Wednesday. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $163.60. The firm has a 50 day moving average price of $141.39 and a 200-day moving average price of $142.93. The company has a market capitalization of $46.06 billion, a P/E ratio of 22.06, a P/E/G ratio of 2.13 and a beta of 1.14. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.03. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The firm had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same period in the prior year, the firm earned $1.46 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Tuesday, June 10th. Ross Stores’s dividend payout ratio is currently 25.59%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ROST shares. Robert W. Baird dropped their target price on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Loop Capital dropped their price objective on shares of Ross Stores from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, May 23rd. Morgan Stanley dropped their price objective on shares of Ross Stores from $128.00 to $126.00 and set an “equal weight” rating on the stock in a report on Friday, May 23rd. Barclays dropped their price objective on shares of Ross Stores from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Finally, Wells Fargo & Company dropped their price objective on shares of Ross Stores from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.67.

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