Ross Stores, Inc. (NASDAQ:ROST) Holdings Reduced by Nexus Investment Management ULC

by · The Cerbat Gem

Nexus Investment Management ULC reduced its stake in Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 246,830 shares of the apparel retailer’s stock after selling 6,060 shares during the quarter. Ross Stores makes up approximately 3.6% of Nexus Investment Management ULC’s investment portfolio, making the stock its 8th largest position. Nexus Investment Management ULC owned about 0.07% of Ross Stores worth $37,150,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ROST. Chicago Partners Investment Group LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at about $208,000. Fisher Asset Management LLC lifted its stake in shares of Ross Stores by 5.2% in the 4th quarter. Fisher Asset Management LLC now owns 23,128 shares of the apparel retailer’s stock valued at $3,201,000 after purchasing an additional 1,149 shares during the last quarter. SageView Advisory Group LLC purchased a new position in shares of Ross Stores during the 4th quarter worth $278,000. HighPoint Advisor Group LLC acquired a new stake in shares of Ross Stores during the 4th quarter worth about $798,000. Finally, Nomura Holdings Inc. raised its holdings in Ross Stores by 259.7% in the 4th quarter. Nomura Holdings Inc. now owns 6,834 shares of the apparel retailer’s stock valued at $946,000 after buying an additional 4,934 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ross Stores

In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 103,049 shares in the company, valued at $16,038,546.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 311,853 shares in the company, valued at $48,003,532.29. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the chief operating officer now owns 103,049 shares in the company, valued at $16,038,546.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,138 shares of company stock worth $11,093,051. 2.10% of the stock is currently owned by company insiders.

Ross Stores Stock Performance

Shares of ROST stock opened at $146.25 on Wednesday. Ross Stores, Inc. has a one year low of $112.39 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 company has a 50 day moving average price of $148.58 and a 200 day moving average price of $143.16. The firm has a market capitalization of $48.79 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 2.29 and a beta of 1.09.

Ross Stores (NASDAQ:ROST – Get Free Report) last released its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) 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 the consensus estimate of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. Ross Stores’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 earnings per share. Sell-side analysts anticipate that Ross Stores, Inc. will post 6.2 EPS for the current year.

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.3675 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.47 annualized dividend and a dividend yield of 1.01%. Ross Stores’s payout ratio is 24.79%.

Analysts Set New Price Targets

ROST has been the subject of a number of recent analyst reports. Bank of America lifted their price target on shares of Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Robert W. Baird boosted their target price on Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. TD Cowen lifted their price objective on Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, StockNews.com raised Ross Stores from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $169.71.

Check Out Our Latest Report on Ross Stores

Ross Stores Profile

(Free Report)

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.

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