Raymond James Trust N.A. Lowers Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Raymond James Trust N.A. cut its position in Ross Stores, Inc. (NASDAQ:ROST) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,245 shares of the apparel retailer’s stock after selling 706 shares during the quarter. Raymond James Trust N.A.’s holdings in Ross Stores were worth $1,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Ross Stores in the 2nd quarter worth approximately $27,000. SJS Investment Consulting Inc. raised its position 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 $32,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Ross Stores during the 3rd quarter valued at $33,000. Finally, Crewe Advisors LLC raised its position 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.

Ross Stores Trading Up 2.2 %

Shares of ROST opened at $146.09 on Monday. Ross Stores, Inc. has a twelve month low of $127.53 and a twelve month high of $163.60. The company has a market cap of $48.47 billion, a P/E ratio of 23.01, a P/E/G ratio of 2.40 and a beta of 1.09. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $145.14 and its 200-day simple moving average is $144.70.

Ross Stores (NASDAQ:ROST) last announced its 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 net margin of 9.95% and a return on equity of 42.42%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, analysts expect that Ross Stores, Inc. will post 6.1 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Tuesday, December 10th. Ross Stores’s payout ratio is presently 23.15%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Gordon Haskett upgraded shares of Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. Barclays raised their price objective on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. TD Cowen reduced their target price on shares of Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Wells Fargo & Company reduced 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, November 14th. Finally, UBS Group increased their target price on shares of Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Five 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $171.69.

Insider Transactions at Ross Stores

In other news, COO Michael J. Hartshorn sold 8,366 shares of the company’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 approximately $16,038,546.36. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Michael Balmuth sold 14,887 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the completion of the transaction, the chairman now owns 11,133 shares in the company, valued at approximately $1,694,665.26. The trade was a 57.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,138 shares of company stock worth $11,093,051. Insiders own 2.10% of the company’s stock.

About Ross Stores

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.