Principal Financial Group Inc. Raises Stake in Ross Stores, Inc. (NASDAQ:ROST)

Principal Financial Group Inc. increased its position in Ross Stores, Inc. (NASDAQ:ROST) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,965,695 shares of the apparel retailer’s stock after buying an additional 151,255 shares during the period. Principal Financial Group Inc. owned about 0.59% of Ross Stores worth $295,857,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ROST. University of Texas Texas AM Investment Management Co. acquired a new stake in Ross Stores in the 2nd quarter worth about $27,000. SJS Investment Consulting Inc. raised its stake in Ross Stores by 262.1% during the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 152 shares during the period. Industrial Alliance Investment Management Inc. purchased a new position in Ross Stores during the second quarter worth approximately $32,000. Armstrong Advisory Group Inc. acquired a new position in shares of Ross Stores in the 3rd quarter valued at $33,000. Finally, Crewe Advisors LLC increased its holdings 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 worth $40,000 after buying an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Insider Transactions at Ross Stores

In related news, COO Michael J. Hartshorn sold 8,366 shares of the business’s 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 sale, the chief operating officer now owns 103,049 shares of the company’s stock, valued at $16,038,546.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Michael Balmuth sold 14,887 shares of the company’s stock in a transaction dated 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 owns 11,133 shares in the company, valued at approximately $1,694,665.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief operating officer now owns 103,049 shares in the company, valued at approximately $16,038,546.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,138 shares of company stock worth $11,093,051. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ROST has been the subject of a number of research reports. UBS Group boosted their price target on Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their target price on Ross Stores from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Gordon Haskett upgraded shares of Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Robert W. Baird raised their target price on shares of Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $171.88.

Ross Stores Price Performance

ROST opened at $142.04 on Friday. The company has a market capitalization of $47.12 billion, a P/E ratio of 22.91, a PEG ratio of 2.28 and a beta of 1.09. The company has a 50-day moving average of $147.55 and a 200-day moving average of $143.75. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. Ross Stores, Inc. has a 1-year low of $119.73 and a 1-year high of $163.60.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.09. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.25 billion. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. Ross Stores’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.32 earnings per share. Equities analysts expect that Ross Stores, Inc. will post 6.2 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.3675 per share. The ex-dividend date was Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.03%. Ross Stores’s dividend payout ratio (DPR) is 23.71%.

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.