TimesSquare Capital Management LLC Has $66.58 Million Stock Holdings in Ross Stores, Inc. $ROST

TimesSquare Capital Management LLC lowered its stake in Ross Stores, Inc. (NASDAQ:ROST) by 9.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 521,852 shares of the apparel retailer’s stock after selling 57,660 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Ross Stores were worth $66,578,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ROST. Vanguard Group Inc. grew its stake in Ross Stores by 17.0% in the first quarter. Vanguard Group Inc. now owns 34,121,706 shares of the apparel retailer’s stock valued at $4,360,413,000 after purchasing an additional 4,946,101 shares in the last quarter. EdgePoint Investment Group Inc. increased its holdings in Ross Stores by 59.3% during the first quarter. EdgePoint Investment Group Inc. now owns 4,055,088 shares of the apparel retailer’s stock worth $518,200,000 after buying an additional 1,509,815 shares during the last quarter. Invesco Ltd. increased its holdings in Ross Stores by 5.0% during the first quarter. Invesco Ltd. now owns 3,997,575 shares of the apparel retailer’s stock worth $510,850,000 after buying an additional 192,148 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Ross Stores by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,912,392 shares of the apparel retailer’s stock worth $372,134,000 after acquiring an additional 15,085 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Ross Stores by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,971,294 shares of the apparel retailer’s stock valued at $251,912,000 after acquiring an additional 21,473 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, CMO Karen Fleming sold 2,932 shares of Ross Stores stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $149.09, for a total value of $437,131.88. Following the completion of the transaction, the chief marketing officer directly owned 88,335 shares of the company’s stock, valued at $13,169,865.15. The trade was a 3.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen C. Brinkley sold 6,437 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $150.97, for a total value of $971,793.89. Following the sale, the insider directly owned 57,012 shares in the company, valued at approximately $8,607,101.64. This trade represents a 10.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,720 shares of company stock valued at $7,761,212 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Ross Stores Stock Performance

Shares of NASDAQ ROST opened at $162.73 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98. The firm has a market cap of $52.92 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 3.04 and a beta of 1.16. The stock’s fifty day moving average price is $153.71 and its two-hundred day moving average price is $144.66. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $165.07.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.02. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The company had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the previous year, the business posted $1.59 earnings per share. Ross Stores’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Tuesday, September 9th. Ross Stores’s payout ratio is presently 25.71%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ROST shares. Wells Fargo & Company boosted their price objective on shares of Ross Stores from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Morgan Stanley lifted their target price on Ross Stores from $128.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Friday, August 22nd. Cowen restated a “buy” rating on shares of Ross Stores in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ross Stores in a report on Tuesday, October 14th. Finally, Erste Group Bank initiated coverage on shares of Ross Stores in a report on Friday, October 31st. They issued a “buy” rating on the stock. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $163.53.

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.