Lummis Asset Management LP Has $2.38 Million Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Lummis Asset Management LP raised its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 9.4% during the third quarter, HoldingsChannel.com reports. The fund owned 15,795 shares of the apparel retailer’s stock after buying an additional 1,361 shares during the quarter. Ross Stores accounts for about 2.8% of Lummis Asset Management LP’s holdings, making the stock its 10th biggest position. Lummis Asset Management LP’s holdings in Ross Stores were worth $2,377,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 valued at $4,243,740,000 after purchasing an additional 346,474 shares in the last quarter. Victory Capital Management Inc. raised its stake in Ross Stores by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,440,272 shares of the apparel retailer’s stock worth $517,795,000 after buying an additional 129,908 shares during the period. Legal & General Group Plc boosted its holdings in Ross Stores by 10.3% in the second quarter. Legal & General Group Plc now owns 2,737,042 shares of the apparel retailer’s stock worth $397,747,000 after acquiring an additional 254,720 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Ross Stores by 15.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,477,142 shares of the apparel retailer’s stock valued at $359,991,000 after acquiring an additional 331,996 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Ross Stores by 68.8% during the second quarter. Los Angeles Capital Management LLC now owns 2,391,856 shares of the apparel retailer’s stock valued at $347,585,000 after acquiring an additional 975,190 shares in the last quarter. 86.86% of the stock is owned by institutional investors.

Insider Activity at Ross Stores

In other news, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at $16,038,546.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 value of $1,302,084.24. Following the completion of the transaction, the chief operating officer now directly owns 103,049 shares in the company, valued at approximately $16,038,546.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael Balmuth sold 14,887 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the completion of the sale, the chairman now owns 11,133 shares in the company, valued at $1,694,665.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,138 shares of company stock worth $11,093,051. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Stock Performance

Ross Stores stock traded up $0.91 during trading on Thursday, hitting $141.37. The stock had a trading volume of 230,399 shares, compared to its average volume of 2,256,112. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average is $146.59 and its two-hundred day moving average is $144.05. Ross Stores, Inc. has a 1 year low of $119.73 and a 1 year high of $163.60. The stock has a market cap of $46.90 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 2.31 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.25 billion. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.32 EPS. As a group, analysts predict that Ross Stores, Inc. will post 6.12 EPS for the current year.

Ross Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were paid a $0.3675 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a yield of 1.04%. Ross Stores’s dividend payout ratio is 23.71%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ROST shares. Wells Fargo & Company reduced their price target on shares of Ross Stores from $175.00 to $165.00 and set an “overweight” rating for the company in a research report on Thursday. Bank of America boosted their target price on shares of Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Citigroup downgraded Ross Stores from a “buy” rating to a “neutral” rating and cut their price target for the company from $179.00 to $152.00 in a research note on Tuesday. StockNews.com lowered Ross Stores from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, Barclays upped their price target on Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.00.

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.