Ross Stores, Inc. (NASDAQ:ROST) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 251.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 260,126 shares of the apparel retailer's stock after buying an additional 186,161 shares during the period. Retirement Systems of Alabama owned about 0.08% of Ross Stores worth $39,152,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ross Stores during the 2nd quarter worth approximately $27,000. Industrial Alliance Investment Management Inc. purchased a new stake in Ross Stores during the second quarter worth $32,000. Armstrong Advisory Group Inc. acquired a new stake in Ross Stores in the third quarter valued at $33,000. Crewe Advisors LLC increased its position in shares of 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 buying an additional 136 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in shares of Ross Stores in the second quarter valued at $44,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Trading Down 0.2 %

Shares of ROST stock traded down $0.35 during trading hours on Friday, hitting $153.53. 1,698,006 shares of the company were exchanged, compared to its average volume of 2,340,639. The firm has a fifty day moving average of $146.37 and a 200 day moving average of $146.70. 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, Inc. has a 1 year low of $127.53 and a 1 year high of $163.60. The firm has a market cap of $50.94 billion, a PE ratio of 24.18, a PEG ratio of 2.54 and a beta of 1.10.

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

Ross Stores Announces Dividend

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 given a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Tuesday, December 10th. Ross Stores's dividend payout ratio (DPR) is presently 23.15%.

Wall Street Analyst Weigh In

ROST has been the topic of several recent research reports. Citigroup lowered shares of Ross Stores from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $179.00 to $152.00 in a research report on Tuesday, November 12th. Evercore ISI increased their price target on shares of Ross Stores from $170.00 to $180.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. Telsey Advisory Group restated a "market perform" rating and set a $175.00 price objective on shares of Ross Stores in a research report on Monday, November 18th. Guggenheim reiterated a "buy" rating and set a $180.00 target price on shares of Ross Stores in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their price target on Ross Stores from $171.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Five 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 stock. According to data from MarketBeat.com, Ross Stores has a consensus rating of "Moderate Buy" and a consensus price target of $171.69.

Insiders Place Their Bets

In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 103,049 shares of the company's stock, valued at $16,038,546.36. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by insiders.

Ross Stores Company 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.