KCM Investment Advisors LLC Cuts Position in Ross Stores, Inc. $ROST

KCM Investment Advisors LLC reduced its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 7.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,933 shares of the apparel retailer’s stock after selling 2,843 shares during the period. KCM Investment Advisors LLC’s holdings in Ross Stores were worth $4,202,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Aspect Partners LLC grew its holdings in shares of Ross Stores by 251.7% in the 2nd quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer’s stock worth $26,000 after acquiring an additional 146 shares during the period. Banque Transatlantique SA acquired a new stake in shares of Ross Stores during the first quarter valued at $29,000. Bayforest Capital Ltd boosted its stake in shares of Ross Stores by 372.5% during the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 190 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in Ross Stores in the 2nd quarter worth approximately $38,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Ross Stores in the first quarter valued at $48,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ROST. Morgan Stanley upped their price target on shares of Ross Stores from $128.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Friday, August 22nd. Robert W. Baird upped their price target on Ross Stores from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, August 22nd. Cowen reaffirmed a “buy” rating on shares of Ross Stores in a research report on Friday, August 22nd. Citigroup upped their target price on Ross Stores from $146.00 to $171.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, BTIG Research initiated coverage on shares of Ross Stores in a research note on Tuesday, October 14th. They issued a “neutral” rating for the company. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Ross Stores presently has an average rating of “Moderate Buy” and an average price target of $163.73.

Insider Buying and Selling at Ross Stores

In other news, CMO Karen Sykes sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total transaction of $607,040.00. Following the completion of the transaction, the chief marketing officer directly owned 106,413 shares of the company’s stock, valued at approximately $16,149,236.88. This represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Karen Fleming sold 2,932 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $149.09, for a total value of $437,131.88. Following the transaction, the chief marketing officer owned 88,335 shares of the company’s stock, valued at approximately $13,169,865.15. The trade was a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,720 shares of company stock worth $7,761,212 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Ross Stores Trading Up 0.5%

NASDAQ:ROST opened at $161.08 on Friday. The company has a market cap of $52.39 billion, a PE ratio of 25.57, a P/E/G ratio of 3.04 and a beta of 1.16. The business’s 50 day moving average is $153.18 and its two-hundred day moving average is $144.26. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $165.07.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.02. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The business had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period in the prior year, the company posted $1.59 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. On average, analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a $0.405 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $1.62 annualized dividend and a dividend yield of 1.0%. Ross Stores’s payout ratio is 25.71%.

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.