Victory Capital Management Inc. Increases Stake in Ross Stores, Inc. (NASDAQ:ROST)

Victory Capital Management Inc. lifted its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 3.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,440,272 shares of the apparel retailer's stock after purchasing an additional 129,908 shares during the quarter. Ross Stores accounts for 0.5% of Victory Capital Management Inc.'s investment portfolio, making the stock its 22nd largest holding. Victory Capital Management Inc. owned 1.04% of Ross Stores worth $517,795,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ROST. University of Texas Texas AM Investment Management Co. purchased a new stake in Ross Stores in the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. increased its position in shares of Ross Stores by 262.1% during the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer's stock valued at $31,000 after purchasing an additional 152 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Ross Stores during the 2nd quarter valued at $32,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Ross Stores during the 3rd quarter valued at $33,000. Finally, Crewe Advisors LLC increased its position in shares of Ross Stores by 97.8% during the 2nd quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer's stock valued at $40,000 after purchasing an additional 136 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Trading Down 1.4 %

Ross Stores stock traded down $2.05 during mid-day trading on Tuesday, reaching $140.31. 4,312,810 shares of the company traded hands, compared to its average volume of 2,264,819. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05. The firm's 50 day moving average price is $147.04 and its 200 day moving average price is $144.03. The firm has a market capitalization of $46.55 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of 2.33 and a beta of 1.09. Ross Stores, Inc. has a 52-week low of $119.73 and a 52-week high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.09. The company had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. Ross Stores's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 EPS. On average, analysts anticipate that Ross Stores, Inc. will post 6.2 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were paid a $0.3675 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.47 annualized dividend and a yield of 1.05%. Ross Stores's payout ratio is 23.71%.

Insider Activity

In related news, COO Michael J. Hartshorn sold 8,366 shares of the firm's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the sale, the chief operating officer now directly owns 103,049 shares in the company, valued at $16,038,546.36. This trade represents a 0.00 % 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. In other news, COO Michael J. Hartshorn sold 8,366 shares of the firm's stock in a transaction on Monday, September 16th. The stock was 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 owns 103,049 shares in the company, valued at approximately $16,038,546.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Michael Balmuth sold 14,887 shares of Ross Stores stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $152.22, for a total value of $2,266,099.14. Following the completion of the transaction, the chairman now owns 11,133 shares in the company, valued at $1,694,665.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,138 shares of company stock worth $11,093,051. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ROST has been the subject of several research analyst reports. TD Cowen raised their target price on Ross Stores from $173.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Morgan Stanley raised their target price on Ross Stores from $163.00 to $178.00 and gave the company an "overweight" rating in a research report on Friday, August 23rd. Wells Fargo & Company increased their price target on Ross Stores from $160.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday, August 23rd. Telsey Advisory Group reiterated a "market perform" rating and set a $175.00 price target on shares of Ross Stores in a research note on Tuesday, October 29th. Finally, Citigroup cut shares of Ross Stores from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $179.00 to $152.00 in a research note on Tuesday. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $170.63.

About Ross Stores

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.