Ross Stores, Inc. (NASDAQ:ROST) Stake Trimmed by Sather Financial Group Inc

Sather Financial Group Inc trimmed its stake in Ross Stores, Inc. (NASDAQ:ROST) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 434,861 shares of the apparel retailer’s stock after selling 1,561 shares during the quarter. Ross Stores makes up 4.2% of Sather Financial Group Inc’s holdings, making the stock its 6th biggest position. Sather Financial Group Inc owned approximately 0.13% of Ross Stores worth $65,451,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ross Stores during the 2nd quarter valued at approximately $27,000. SJS Investment Consulting Inc. lifted its stake in shares of Ross Stores by 262.1% during the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Ross Stores during the 2nd quarter valued at approximately $32,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Ross Stores during the 3rd quarter valued at approximately $33,000. Finally, Crewe Advisors LLC lifted its stake in shares of Ross Stores by 97.8% during the 2nd quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock valued at $40,000 after buying an additional 136 shares in the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of the stock in a transaction on Thursday, September 5th. The shares were 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 of the company’s stock, valued at $1,694,665.26. This represents a 57.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the completion of the sale, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at approximately $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. Insiders sold 72,138 shares of company stock valued at $11,093,051 in the last quarter. Company insiders own 2.10% of the company’s stock.

Ross Stores Price Performance

ROST stock opened at $140.69 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. Ross Stores, Inc. has a 52 week low of $119.73 and a 52 week high of $163.60. The firm’s fifty day moving average is $146.18 and its 200 day moving average is $144.21. The firm has a market cap of $46.68 billion, a P/E ratio of 22.69, a P/E/G ratio of 2.31 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, beating the consensus estimate of $1.50 by $0.09. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.25 billion. During the same quarter last year, the firm earned $1.32 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts predict that Ross Stores, Inc. will post 6.11 earnings per share for the current year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were given a dividend of $0.3675 per share. The ex-dividend date was Tuesday, September 10th. This represents a $1.47 annualized dividend and a yield of 1.04%. Ross Stores’s payout ratio is currently 23.71%.

Wall Street Analysts Forecast Growth

ROST has been the topic of a number of analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $175.00 target price on shares of Ross Stores in a report on Tuesday, October 29th. Bank of America upped their target price on shares of Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Morgan Stanley upped their target price on shares of Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Loop Capital upped their target price on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company decreased their target price on shares of Ross Stores from $175.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday. Five equities 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $170.00.

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.