TD Asset Management Inc Sells 47,603 Shares of Ross Stores, Inc. (NASDAQ:ROST)

TD Asset Management Inc reduced its stake in Ross Stores, Inc. (NASDAQ:ROST) by 5.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 803,273 shares of the apparel retailer’s stock after selling 47,603 shares during the period. TD Asset Management Inc’s holdings in Ross Stores were worth $102,650,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its holdings in Ross Stores by 50.7% in the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer’s stock worth $28,000 after purchasing an additional 73 shares during the period. Tradewinds Capital Management LLC grew its holdings in Ross Stores by 36.6% in the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 75 shares during the period. Putney Financial Group LLC purchased a new stake in Ross Stores in the fourth quarter worth about $44,000. Cary Street Partners Financial LLC purchased a new stake in Ross Stores in the fourth quarter worth about $48,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Ross Stores in the fourth quarter worth about $53,000. 86.86% of the stock is owned by institutional investors.

Ross Stores Trading Up 1.4%

Shares of NASDAQ:ROST opened at $138.33 on Friday. The stock’s 50-day simple moving average is $135.32 and its two-hundred day simple moving average is $137.88. The stock has a market capitalization of $45.24 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.64 and a beta of 1.11. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.55.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.03. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The business had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.94 billion. During the same period in the prior year, the company earned $1.46 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. Analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 10th were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.62 annualized dividend and a yield of 1.17%. Ross Stores’s dividend payout ratio (DPR) is presently 25.59%.

Analyst Upgrades and Downgrades

ROST has been the topic of a number of recent research reports. Morgan Stanley cut their price objective on shares of Ross Stores from $128.00 to $126.00 and set an “equal weight” rating on the stock in a report on Friday, May 23rd. Jefferies Financial Group upgraded shares of Ross Stores from a “hold” rating to a “buy” rating and upped their price objective for the stock from $135.00 to $150.00 in a report on Wednesday, July 2nd. Wells Fargo & Company cut their price objective on shares of Ross Stores from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Barclays cut their price target on shares of Ross Stores from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Ross Stores from $141.00 to $154.00 and gave the company an “overweight” rating in a report on Friday, June 13th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.94.

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.