AlphaCore Capital LLC Sells 226 Shares of Ross Stores, Inc. (NASDAQ:ROST)

AlphaCore Capital LLC lowered its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 9.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,275 shares of the apparel retailer’s stock after selling 226 shares during the quarter. AlphaCore Capital LLC’s holdings in Ross Stores were worth $342,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. PGGM Investments raised its stake in Ross Stores by 724.1% in the second quarter. PGGM Investments now owns 24,848 shares of the apparel retailer’s stock worth $3,611,000 after buying an additional 21,833 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Ross Stores by 140.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 464,062 shares of the apparel retailer’s stock worth $68,106,000 after acquiring an additional 270,844 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Ross Stores by 47.5% during the 2nd quarter. Diversified Trust Co now owns 13,124 shares of the apparel retailer’s stock worth $1,907,000 after purchasing an additional 4,228 shares during the last quarter. Janus Henderson Group PLC boosted its position in Ross Stores by 42.1% during the first quarter. Janus Henderson Group PLC now owns 63,105 shares of the apparel retailer’s stock valued at $9,260,000 after purchasing an additional 18,685 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Ross Stores by 10.3% during the second 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. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on ROST shares. UBS Group increased their price target on shares of Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. TD Cowen decreased their target price on shares of Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday. Robert W. Baird lifted their price target on shares of Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Morgan Stanley upped their price target on Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company lowered their price objective on Ross Stores from $175.00 to $165.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $169.50.

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 8,366 shares of the 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 transaction, the chief operating officer now owns 103,049 shares of the company’s stock, valued at $16,038,546.36. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Barbara Rentler sold 48,885 shares of the 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 completion of the transaction, the chief executive officer now owns 311,853 shares in the company, valued at $48,003,532.29. This represents a 13.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,138 shares of company stock worth $11,093,051. Company insiders own 2.10% of the company’s stock.

Ross Stores Trading Up 2.4 %

NASDAQ ROST opened at $142.64 on Friday. The firm has a market cap of $47.32 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 2.34 and a beta of 1.09. Ross Stores, Inc. has a one year low of $127.53 and a one year high of $163.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. The firm has a 50 day simple moving average of $145.32 and a 200-day simple moving average of $144.43.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.07. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.15 billion. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 earnings per share. Equities research analysts anticipate that Ross Stores, Inc. will post 6.11 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Tuesday, December 10th. Ross Stores’s dividend payout ratio is presently 23.71%.

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.