Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Empire Life Investments Inc.

Empire Life Investments Inc. cut its stake in Ross Stores, Inc. (NASDAQ:ROST) by 8.6% during the 1st quarter, HoldingsChannel reports. The fund owned 185,791 shares of the apparel retailer’s stock after selling 17,442 shares during the period. Ross Stores comprises 1.5% of Empire Life Investments Inc.’s portfolio, making the stock its 22nd largest position. Empire Life Investments Inc.’s holdings in Ross Stores were worth $23,742,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC grew its position in shares of Ross Stores by 50.7% in the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer’s stock worth $28,000 after acquiring an additional 73 shares in the last quarter. Bayforest Capital Ltd lifted its stake in Ross Stores by 372.5% during the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 190 shares during the last quarter. Tradewinds Capital Management LLC boosted 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 bought a new stake in Ross Stores during the fourth quarter valued at $44,000. Finally, Cary Street Partners Financial LLC bought a new stake in Ross Stores during the fourth quarter valued at $48,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ROST shares. Wall Street Zen downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Jefferies Financial Group upgraded shares of Ross Stores from a “hold” rating to a “buy” rating and increased their price objective for the stock from $135.00 to $150.00 in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. raised their target price on shares of Ross Stores from $154.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Barclays decreased their target price on Ross Stores from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Finally, Wells Fargo & Company dropped their price target on Ross Stores from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, May 23rd. Five 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 has an average rating of “Moderate Buy” and a consensus target price of $159.06.

Ross Stores Trading Up 0.3%

NASDAQ:ROST opened at $137.01 on Monday. The stock has a market cap of $44.81 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 2.62 and a beta of 1.11. 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, Inc. has a 1 year low of $122.36 and a 1 year high of $163.60. The business has a fifty day moving average of $134.16 and a 200-day moving average of $137.36.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.03. The business had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.94 billion. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. Equities analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 10th were paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, June 10th. Ross Stores’s dividend payout ratio (DPR) is currently 25.59%.

Ross Stores Company 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.