Pictet Asset Management Holding SA trimmed its stake in shares of Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 9.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 224,381 shares of the apparel retailer’s stock after selling 23,066 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ross Stores were worth $52,371,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Virtus Advisers LLC acquired a new stake in Ross Stores during the 2nd quarter worth about $38,000. Twin Lakes Capital Management LLC acquired a new position in shares of Ross Stores in the second quarter worth about $41,000. Bell Investment Advisors Inc acquired a new position in shares of Ross Stores in the second quarter worth about $43,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Ross Stores in the second quarter worth approximately $44,000. Finally, Elevation Wealth Partners LLC raised its holdings in shares of Ross Stores by 402.4% during the second quarter. Elevation Wealth Partners LLC now owns 211 shares of the apparel retailer’s stock valued at $45,000 after acquiring an additional 169 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.
Insider Buying and Selling at Ross Stores
In related news, CEO James Conroy sold 49,205 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $229.48, for a total transaction of $11,291,563.40. Following the completion of the sale, the chief executive officer directly owned 134,349 shares in the company, valued at approximately $30,830,408.52. This trade represents a 26.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen C. Brinkley sold 6,424 shares of Ross Stores stock in a transaction on Monday, September 14th. The shares were sold at an average price of $229.66, for a total value of $1,475,335.84. Following the sale, the insider directly owned 51,665 shares of the company’s stock, valued at approximately $11,865,383.90. The trade was a 11.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.10% of the company’s stock.
Ross Stores Price Performance
NASDAQ ROST opened at $237.00 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.98. The firm has a market capitalization of $75.71 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 2.19 and a beta of 0.85. The company has a 50 day simple moving average of $231.07 and a 200-day simple moving average of $223.35. Ross Stores, Inc. has a 52-week low of $157.73 and a 52-week high of $257.00.
Ross Stores (NASDAQ:ROST – Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.71. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.16 billion. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.56 earnings per share. Equities research analysts predict that Ross Stores, Inc. will post 8.15 earnings per share for the current fiscal year.
Ross Stores Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th were paid a dividend of $0.4450 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. Ross Stores’s dividend payout ratio (DPR) is 21.55%.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $294.00 price target on shares of Ross Stores in a research report on Friday, August 21st. Wells Fargo & Company lifted their price objective on shares of Ross Stores from $245.00 to $248.00 and gave the stock an “equal weight” rating in a research report on Friday, August 21st. Weiss Ratings raised shares of Ross Stores from a “buy (a-)” rating to a “buy (a)” rating in a research note on Friday, October 30th. Morgan Stanley increased their target price on Ross Stores from $231.00 to $234.00 and gave the company an “equal weight” rating in a report on Friday, August 21st. Finally, Citigroup raised their target price on Ross Stores from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and an average target price of $277.82.
Read Our Latest Stock Analysis on ROST
Ross Stores Profile
Ross Stores, Inc is an off-price retailer operating Ross Dress for Less and dd’s DISCOUNTS. Its stores offer name-brand and designer merchandise at discounted prices, with product selection and availability varying by location and season.
Ross Dress for Less sells apparel, footwear, accessories, home fashions, furnishings, and other merchandise for the whole family. dd’s DISCOUNTS offers a similar off-price assortment, including clothing, shoes, home goods, and related products.
The company traces its origins to a department store founded in San Bruno, California, in 1950.
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