Beacon Investment Advisory Services Inc. Trims Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Beacon Investment Advisory Services Inc. lowered its position in Ross Stores, Inc. (NASDAQ:ROST) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 205,999 shares of the apparel retailer’s stock after selling 2,687 shares during the period. Ross Stores makes up approximately 1.3% of Beacon Investment Advisory Services Inc.’s investment portfolio, making the stock its 27th largest holding. Beacon Investment Advisory Services Inc. owned 0.06% of Ross Stores worth $31,005,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ROST. Benjamin Edwards Inc. raised its holdings in Ross Stores by 667.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 25,324 shares of the apparel retailer’s stock worth $3,812,000 after purchasing an additional 22,026 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ross Stores in the 3rd quarter valued at $1,971,000. True Wealth Design LLC raised its position in Ross Stores by 4,186.7% during the third quarter. True Wealth Design LLC now owns 643 shares of the apparel retailer’s stock worth $97,000 after acquiring an additional 628 shares during the period. Edgestream Partners L.P. lifted its holdings in Ross Stores by 101.5% during the third quarter. Edgestream Partners L.P. now owns 5,761 shares of the apparel retailer’s stock valued at $867,000 after purchasing an additional 2,902 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Ross Stores by 478.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 400,204 shares of the apparel retailer’s stock valued at $60,235,000 after purchasing an additional 331,007 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.

Insider Activity at Ross Stores

In related news, COO Michael J. Hartshorn sold 8,366 shares of the firm’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 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Michael Balmuth sold 14,887 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were 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 approximately $1,694,665.26. This represents a 57.21 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Ross Stores Stock Down 0.0 %

Shares of NASDAQ:ROST opened at $154.87 on Monday. Ross Stores, Inc. has a fifty-two week low of $127.53 and a fifty-two week high of $163.60. The firm’s 50 day moving average price is $145.32 and its 200 day moving average price is $145.44. 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 stock has a market cap of $51.38 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 data on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.07. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 EPS. As a group, equities research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Tuesday, December 10th. Ross Stores’s payout ratio is 23.15%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. Guggenheim reiterated a “buy” rating and set a $180.00 price target on shares of Ross Stores in a research report on Friday, November 22nd. Wells Fargo & Company decreased their price target on shares of Ross Stores from $175.00 to $165.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Barclays lifted their price objective on Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, TD Cowen cut their target price on Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ross Stores currently has an average rating of “Moderate Buy” and a consensus price target of $171.69.

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.