26,606 Shares in Ross Stores, Inc. (NASDAQ:ROST) Purchased by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. bought a new stake in Ross Stores, Inc. (NASDAQ:ROST) in the 1st quarter, Holdings Channel reports. The institutional investor bought 26,606 shares of the apparel retailer’s stock, valued at approximately $3,400,000. Ross Stores accounts for about 0.8% of Lecap Asset Management Ltd.’s investment portfolio, making the stock its 18th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. S.A. Mason LLC raised its position in shares of Ross Stores by 7.5% in the first quarter. S.A. Mason LLC now owns 2,150 shares of the apparel retailer’s stock valued at $275,000 after buying an additional 150 shares during the last quarter. International Assets Investment Management LLC grew its stake in Ross Stores by 19.6% in the 1st quarter. International Assets Investment Management LLC now owns 7,675 shares of the apparel retailer’s stock worth $981,000 after acquiring an additional 1,260 shares during the period. Asset Management One Co. Ltd. raised its holdings in Ross Stores by 5.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 138,688 shares of the apparel retailer’s stock valued at $17,723,000 after acquiring an additional 6,659 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in Ross Stores by 8.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 3,092 shares of the apparel retailer’s stock valued at $395,000 after acquiring an additional 245 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Ross Stores by 3.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,536 shares of the apparel retailer’s stock worth $835,000 after purchasing an additional 215 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Trading Up 0.4%

ROST opened at $128.33 on Wednesday. The firm’s 50 day moving average is $140.41 and its 200-day moving average is $141.21. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $41.97 billion, a P/E ratio of 20.27, a P/E/G ratio of 2.69 and a beta of 1.14.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, May 22nd. The apparel retailer reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. The firm had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.94 billion. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 EPS. Analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be paid a $0.405 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.26%. Ross Stores’s dividend payout ratio (DPR) is presently 25.59%.

Wall Street Analyst Weigh In

Several research firms recently commented on ROST. Loop Capital dropped their target price on Ross Stores from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, May 23rd. Citigroup upgraded Ross Stores from a “neutral” rating to a “buy” rating and set a $146.00 price target for the company in a report on Thursday, April 3rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $150.00 price objective on shares of Ross Stores in a research note on Friday, May 23rd. Wall Street Zen lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Finally, Robert W. Baird lowered their target price on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ross Stores has a consensus rating of “Moderate Buy” and an average price target of $159.53.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, Chairman Michael Balmuth sold 11,261 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $131.60, for a total transaction 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 $7,868,364. The trade was a 15.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Karen Fleming sold 5,270 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $127.70, for a total transaction of $672,979.00. Following the completion of the transaction, the chief marketing officer now owns 93,126 shares of the company’s stock, valued at approximately $11,892,190.20. This trade represents a 5.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,567 shares of company stock worth $2,812,024 in the last ninety days. 2.20% of the stock is owned by insiders.

Ross Stores 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 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.