Cornerstone Advisors LLC Sells 6,200 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Cornerstone Advisors LLC reduced its position in Ross Stores, Inc. (NASDAQ:ROST) by 34.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,600 shares of the apparel retailer’s stock after selling 6,200 shares during the quarter. Cornerstone Advisors LLC’s holdings in Ross Stores were worth $1,686,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROST. Norges Bank bought a new position in shares of Ross Stores during the fourth quarter valued at $523,185,000. First Trust Advisors LP lifted its holdings in shares of Ross Stores by 515.8% during the fourth quarter. First Trust Advisors LP now owns 1,756,881 shares of the apparel retailer’s stock valued at $243,135,000 after acquiring an additional 1,471,585 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Ross Stores by 68.8% during the second quarter. Los Angeles Capital Management LLC now owns 2,391,856 shares of the apparel retailer’s stock valued at $347,585,000 after acquiring an additional 975,190 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of Ross Stores during the fourth quarter valued at $102,083,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Ross Stores by 14.6% during the fourth quarter. Wellington Management Group LLP now owns 4,722,885 shares of the apparel retailer’s stock valued at $653,600,000 after acquiring an additional 601,031 shares during the period. 86.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ROST has been the subject of a number of research analyst reports. Telsey Advisory Group lifted their price target on Ross Stores from $160.00 to $175.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. TD Cowen lifted their price target on Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Loop Capital lifted their price target on Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Robert W. Baird lifted their price target on Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Bank of America lifted their price target on Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Ross Stores presently has an average rating of “Moderate Buy” and an average target price of $169.71.

Insiders Place Their Bets

In other Ross Stores news, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the sale, the chief executive officer now directly owns 311,853 shares in the company, valued at approximately $48,003,532.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Michael Balmuth sold 14,887 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the completion of the transaction, the chairman now directly owns 11,133 shares of the company’s stock, valued at approximately $1,694,665.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at $48,003,532.29. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Stock Performance

Shares of NASDAQ:ROST opened at $153.17 on Tuesday. The company has a market capitalization of $51.09 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 2.48 and a beta of 1.09. The firm’s 50 day simple moving average is $146.98 and its 200 day simple moving average is $142.97. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05. Ross Stores, Inc. has a fifty-two week low of $108.35 and a fifty-two week high of $163.60.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company posted $1.32 EPS. As a group, sell-side analysts forecast that Ross Stores, Inc. will post 6.2 earnings per share for the current year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.3675 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.47 annualized dividend and a yield of 0.96%. Ross Stores’s dividend payout ratio (DPR) is currently 24.79%.

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.