Ross Stores, Inc. (NASDAQ:ROST) Stake Cut by Tidal Investments LLC

Tidal Investments LLC cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 18.0% in the third quarter, HoldingsChannel reports. The fund owned 26,932 shares of the apparel retailer’s stock after selling 5,923 shares during the quarter. Tidal Investments LLC’s holdings in Ross Stores were worth $4,054,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Ross Stores during the second quarter worth approximately $27,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Ross Stores during the 2nd quarter valued at $32,000. Armstrong Advisory Group Inc. purchased a new position in shares of Ross Stores during the 3rd quarter valued at $33,000. Crewe Advisors LLC increased its stake 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 worth $40,000 after acquiring an additional 136 shares during the last quarter. Finally, Family Firm Inc. purchased a new stake in shares of Ross Stores during the second quarter worth $44,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Performance

Shares of NASDAQ ROST opened at $153.53 on Friday. Ross Stores, Inc. has a 12 month low of $127.53 and a 12 month high of $163.60. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The company has a market cap of $50.65 billion, a P/E ratio of 24.18, a P/E/G ratio of 2.54 and a beta of 1.10. The business’s 50 day moving average is $146.37 and its two-hundred day moving average is $146.76.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 EPS for the quarter, beating the consensus estimate of $1.41 by $0.07. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the prior year, the company earned $1.33 EPS. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 of this dividend is Tuesday, December 10th. Ross Stores’s dividend payout ratio (DPR) is presently 23.15%.

Insider Activity at Ross Stores

In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores stock in a transaction 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 sale, the chief operating officer now owns 103,049 shares in the company, valued at $16,038,546.36. The trade was a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ROST shares. Guggenheim restated a “buy” rating and issued a $180.00 target price on shares of Ross Stores in a research note on Friday, November 22nd. Wells Fargo & Company lowered their price target on Ross Stores from $175.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Loop Capital raised their price objective on shares of Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Citigroup downgraded shares of Ross Stores from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $179.00 to $152.00 in a research report on Tuesday, November 12th. Finally, Evercore ISI raised their price target on shares of Ross Stores from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.69.

Ross Stores 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.