Alkeon Capital Management LLC Sells 1,350 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Alkeon Capital Management LLC reduced its stake in Ross Stores, Inc. (NASDAQ:ROST) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,613,133 shares of the apparel retailer’s stock after selling 1,350 shares during the period. Alkeon Capital Management LLC’s holdings in Ross Stores were worth $242,793,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ROST. Vinva Investment Management Ltd raised its position in shares of Ross Stores by 370.0% in the 3rd quarter. Vinva Investment Management Ltd now owns 91,051 shares of the apparel retailer’s stock worth $13,800,000 after acquiring an additional 71,677 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Ross Stores by 4,787.8% during the third quarter. Public Sector Pension Investment Board now owns 629,744 shares of the apparel retailer’s stock valued at $94,783,000 after purchasing an additional 616,860 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ross Stores by 1.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,535 shares of the apparel retailer’s stock worth $9,262,000 after purchasing an additional 835 shares during the period. CreativeOne Wealth LLC raised its holdings in Ross Stores by 32.0% in the third quarter. CreativeOne Wealth LLC now owns 2,904 shares of the apparel retailer’s stock worth $437,000 after purchasing an additional 704 shares in the last quarter. Finally, Bridgewater Associates LP lifted its position in Ross Stores by 37.7% during the third quarter. Bridgewater Associates LP now owns 33,391 shares of the apparel retailer’s stock valued at $5,026,000 after buying an additional 9,149 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ross Stores

In other news, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores stock in a transaction 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 transaction, the chief operating officer now owns 103,049 shares in the company, valued at $16,038,546.36. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Michael Balmuth sold 14,887 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total value of $2,266,099.14. Following the completion of the sale, the chairman now owns 11,133 shares of the company’s stock, valued at $1,694,665.26. This trade represents a 57.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Stock Up 0.3 %

Shares of Ross Stores stock opened at $154.89 on Friday. Ross Stores, Inc. has a twelve month low of $127.53 and a twelve month high of $163.60. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $145.31 and its 200 day moving average is $145.11. The company has a market cap of $51.39 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 2.56 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.07. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the prior year, the firm earned $1.33 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. Research analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.3675 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 0.95%. Ross Stores’s dividend payout ratio is currently 23.15%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ROST shares. Gordon Haskett raised shares of Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. Guggenheim restated a “buy” rating and issued a $180.00 price objective on shares of Ross Stores in a report on Friday, November 22nd. Wells Fargo & Company decreased their target price on shares of Ross Stores from $175.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Bank of America boosted their price target on Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. upped their price target on Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ross Stores presently has an average rating of “Moderate Buy” and an average target price of $171.69.

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.