TimesSquare Capital Management LLC Sells 57,660 Shares of Ross Stores, Inc. $ROST

TimesSquare Capital Management LLC trimmed its position in Ross Stores, Inc. (NASDAQ:ROST) by 9.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 521,852 shares of the apparel retailer’s stock after selling 57,660 shares during the period. TimesSquare Capital Management LLC owned about 0.16% of Ross Stores worth $66,578,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aspect Partners LLC lifted its stake in shares of Ross Stores by 251.7% during the second quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer’s stock valued at $26,000 after acquiring an additional 146 shares during the period. Banque Transatlantique SA bought a new stake in Ross Stores during the 1st quarter worth about $29,000. Bayforest Capital Ltd lifted its position in Ross Stores by 372.5% during the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 190 shares during the period. Ameritas Advisory Services LLC acquired a new position in Ross Stores during the 2nd quarter valued at about $38,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Ross Stores in the 1st quarter valued at about $48,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ross Stores

In other Ross Stores news, CMO Karen Sykes sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total value of $607,040.00. Following the sale, the chief marketing officer owned 106,413 shares in the company, valued at approximately $16,149,236.88. The trade was a 3.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen C. Brinkley sold 6,437 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $150.97, for a total value of $971,793.89. Following the transaction, the insider directly owned 57,012 shares of the company’s stock, valued at approximately $8,607,101.64. This trade represents a 10.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 52,720 shares of company stock valued at $7,761,212 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ROST has been the topic of several analyst reports. Citigroup increased their price objective on shares of Ross Stores from $146.00 to $171.00 and gave the company a “buy” rating in a report on Monday, October 13th. Barclays upped their target price on shares of Ross Stores from $156.00 to $164.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Telsey Advisory Group reissued a “market perform” rating and issued a $160.00 price target (up previously from $150.00) on shares of Ross Stores in a research note on Monday, August 18th. Wells Fargo & Company lifted their price objective on Ross Stores from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, TD Cowen increased their target price on Ross Stores from $170.00 to $174.00 and gave the company a “buy” rating in a research note on Monday. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $163.53.

Ross Stores Stock Up 0.5%

Shares of Ross Stores stock opened at $162.73 on Wednesday. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $165.07. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98. The company has a market capitalization of $52.92 billion, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 3.04 and a beta of 1.16. The business has a 50-day moving average of $153.71 and a two-hundred day moving average of $144.66.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.02. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The business had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the prior year, the business earned $1.59 EPS. Ross Stores’s revenue for the quarter was up 4.6% 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 company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Tuesday, September 9th. Ross Stores’s payout ratio is 25.71%.

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.