Ross Stores, Inc. $ROST Stake Lowered by Ridgecrest Wealth Partners LLC

Ridgecrest Wealth Partners LLC trimmed its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 8.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,275 shares of the apparel retailer’s stock after selling 200 shares during the quarter. Ridgecrest Wealth Partners LLC’s holdings in Ross Stores were worth $290,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC increased 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 buying an additional 73 shares during the last quarter. Banque Transatlantique SA bought a new stake in Ross Stores in the first quarter worth approximately $29,000. Bayforest Capital Ltd increased its stake in shares of Ross Stores by 372.5% during the 1st 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 increased its stake in shares of Ross Stores by 36.6% during the 1st 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 last quarter. Finally, Zions Bancorporation National Association UT bought a new position in shares of Ross Stores during the 1st quarter valued at $48,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Analyst Upgrades and Downgrades

ROST has been the subject of a number of recent research reports. Morgan Stanley upped their price objective on shares of Ross Stores from $128.00 to $130.00 and gave the stock an “equal weight” rating in a report on Friday, August 22nd. Wells Fargo & Company upped their price target on Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Cowen reissued a “buy” rating on shares of Ross Stores in a research note on Friday, August 22nd. Robert W. Baird upped their target price on Ross Stores from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, August 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ross Stores from $156.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ross Stores presently has a consensus rating of “Moderate Buy” and an average price target of $160.67.

Ross Stores Price Performance

Shares of Ross Stores stock opened at $145.68 on Wednesday. The firm has a market cap of $47.38 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15. The firm’s 50-day simple moving average is $144.47 and its 200-day simple moving average is $138.62. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $158.69. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.02. The firm had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.59 earnings per share. As a group, research analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, September 9th. Ross Stores’s dividend payout ratio is currently 25.71%.

Insider Activity

In other Ross Stores news, CMO Karen Sykes sold 4,000 shares of Ross Stores stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total transaction of $607,040.00. Following the completion of the transaction, the chief marketing officer directly owned 106,413 shares of the company’s stock, valued at approximately $16,149,236.88. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

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.