Los Angeles Capital Management LLC Has $252.80 Million Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Los Angeles Capital Management LLC lowered its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 29.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,679,589 shares of the apparel retailer’s stock after selling 712,267 shares during the period. Ross Stores comprises about 1.0% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding. Los Angeles Capital Management LLC owned 0.51% of Ross Stores worth $252,795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ROST. Vanguard Group Inc. increased its holdings in Ross Stores by 1.2% in the first quarter. Vanguard Group Inc. now owns 28,916,192 shares of the apparel retailer’s stock worth $4,243,740,000 after buying an additional 346,474 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Ross Stores by 11.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,310,364 shares of the apparel retailer’s stock worth $481,062,000 after purchasing an additional 347,006 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Ross Stores by 10.3% during the 2nd quarter. Legal & General Group Plc now owns 2,737,042 shares of the apparel retailer’s stock valued at $397,747,000 after purchasing an additional 254,720 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ross Stores by 15.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,477,142 shares of the apparel retailer’s stock valued at $359,991,000 after purchasing an additional 331,996 shares in the last quarter. Finally, Boston Partners lifted its stake in shares of Ross Stores by 3.3% in the 1st quarter. Boston Partners now owns 2,131,529 shares of the apparel retailer’s stock valued at $312,756,000 after purchasing an additional 69,085 shares during the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Robert W. Baird increased their target price on shares of Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Gordon Haskett raised shares of Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. Loop Capital lifted their target price on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. TD Cowen upped their price target on shares of Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Bank of America lifted their price objective on Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $171.88.

Insider Buying and Selling at Ross Stores

In other news, COO Michael J. Hartshorn sold 8,366 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $155.64, for a total value of $1,302,084.24. Following the transaction, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at $16,038,546.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares in the company, valued at approximately $48,003,532.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,138 shares of company stock worth $11,093,051 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Price Performance

ROST traded up $1.36 during midday trading on Friday, reaching $143.40. 2,845,994 shares of the company’s stock were exchanged, compared to its average volume of 2,473,196. Ross Stores, Inc. has a one year low of $119.73 and a one year high of $163.60. The firm has a market capitalization of $47.57 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 2.33 and a beta of 1.09. The business has a 50-day simple moving average of $147.21 and a two-hundred day simple moving average of $143.88. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, beating the consensus estimate of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.25 billion. During the same quarter in the previous year, the firm earned $1.32 EPS. Ross Stores’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, research analysts predict that Ross Stores, Inc. will post 6.2 EPS for the current year.

Ross Stores Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were given a $0.3675 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a yield of 1.03%. Ross Stores’s dividend payout ratio (DPR) is presently 23.71%.

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.