Public Employees Retirement System of Ohio Lowers Position in Ross Stores, Inc. (NASDAQ:ROST)

Public Employees Retirement System of Ohio decreased its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,484 shares of the apparel retailer's stock after selling 6,831 shares during the period. Public Employees Retirement System of Ohio's holdings in Ross Stores were worth $18,134,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ross Stores during the 2nd quarter worth approximately $27,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Ross Stores during the 2nd quarter worth approximately $32,000. Armstrong Advisory Group Inc. bought a new position in shares of Ross Stores in the 3rd quarter valued at $33,000. Crewe Advisors LLC grew its position in Ross Stores by 97.8% in the second quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer's stock valued at $40,000 after acquiring an additional 136 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in Ross Stores during the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 86.86% of the company's stock.

Insider Buying and Selling at Ross Stores

In other news, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now directly owns 103,049 shares in the company, valued at $16,038,546.36. This trade represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup lowered Ross Stores from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $179.00 to $152.00 in a research report on Tuesday, November 12th. UBS Group boosted their price target on Ross Stores from $147.00 to $167.00 and gave the stock a "neutral" rating in a report on Friday, August 23rd. Robert W. Baird raised their price objective on shares of Ross Stores from $162.00 to $180.00 and gave the company an "outperform" rating in a report on Friday, August 23rd. Morgan Stanley boosted their target price on shares of Ross Stores from $163.00 to $178.00 and gave the stock an "overweight" rating in a report on Friday, August 23rd. Finally, TD Cowen dropped their price target on shares of Ross Stores from $185.00 to $177.00 and set a "buy" rating for the company in a research note on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $171.69.

Ross Stores Trading Down 1.2 %

Shares of Ross Stores stock traded down $1.93 on Wednesday, reaching $153.84. 1,499,890 shares of the company's stock were exchanged, compared to its average volume of 2,344,212. The firm's 50-day moving average is $145.95 and its two-hundred day moving average is $146.52. The company has a market capitalization of $51.04 billion, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 2.59 and a beta of 1.10. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. Ross Stores, Inc. has a 52 week low of $127.53 and a 52 week high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its quarterly earnings results on Thursday, November 21st. The apparel retailer reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.07. The business had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.15 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company posted $1.33 earnings per share. Sell-side analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a $0.3675 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.47 annualized dividend and a yield of 0.96%. Ross Stores's payout ratio is currently 23.15%.

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.