Ross Stores, Inc. (NASDAQ:ROST) Shares Bought by Cinctive Capital Management LP

Cinctive Capital Management LP lifted its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 18.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,274 shares of the apparel retailer’s stock after purchasing an additional 13,019 shares during the quarter. Cinctive Capital Management LP’s holdings in Ross Stores were worth $12,383,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. 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. boosted its position in shares of Ross Stores by 262.1% in the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 152 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in Ross Stores in the second quarter valued at approximately $32,000. Armstrong Advisory Group Inc. acquired a new position in Ross Stores during the third quarter worth approximately $33,000. Finally, Crewe Advisors LLC increased its position in Ross Stores by 97.8% during the second quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock worth $40,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Bank of America boosted their price objective on shares of Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Robert W. Baird boosted their price target on Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. lifted their price objective on Ross Stores from $171.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Guggenheim restated a “buy” rating and issued a $180.00 price target on shares of Ross Stores in a report on Friday, November 22nd. Five investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.69.

Insider Activity at Ross Stores

In other news, Chairman Michael Balmuth sold 14,887 shares of Ross Stores stock in a transaction that occurred on Thursday, September 5th. The stock was 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 approximately $1,694,665.26. This trade represents a 57.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the sale, the chief operating officer now directly owns 103,049 shares in the company, valued at approximately $16,038,546.36. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Ross Stores Stock Down 0.0 %

Shares of Ross Stores stock opened at $154.87 on Monday. Ross Stores, Inc. has a 1-year low of $127.53 and a 1-year high of $163.60. The company has a market capitalization of $51.38 billion, a PE ratio of 24.39, a P/E/G ratio of 2.56 and a beta of 1.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The business has a 50-day moving average of $145.32 and a 200-day moving average of $145.44.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.07. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same quarter last year, the firm earned $1.33 EPS. Ross Stores’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 0.95%. Ross Stores’s dividend payout ratio is presently 23.15%.

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.