Burgundy Asset Management Ltd. Sells 12,721 Shares of Ross Stores, Inc. $ROST

Burgundy Asset Management Ltd. reduced its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 1.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,191,294 shares of the apparel retailer’s stock after selling 12,721 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in Ross Stores were worth $151,985,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ICW Investment Advisors LLC raised its stake in Ross Stores by 0.4% during the first quarter. ICW Investment Advisors LLC now owns 18,458 shares of the apparel retailer’s stock valued at $2,359,000 after purchasing an additional 67 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in shares of Ross Stores by 3.8% in the 1st quarter. CreativeOne Wealth LLC now owns 1,932 shares of the apparel retailer’s stock worth $247,000 after buying an additional 70 shares during the last quarter. Empirical Finance LLC raised its position in shares of Ross Stores by 0.6% during the 2nd quarter. Empirical Finance LLC now owns 12,032 shares of the apparel retailer’s stock valued at $1,535,000 after buying an additional 74 shares in the last quarter. Signature Estate & Investment Advisors LLC lifted its holdings in shares of Ross Stores by 3.1% in the 1st quarter. Signature Estate & Investment Advisors LLC now owns 2,505 shares of the apparel retailer’s stock valued at $320,000 after acquiring an additional 76 shares during the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of Ross Stores by 1.4% in the 2nd quarter. Wedmont Private Capital now owns 5,707 shares of the apparel retailer’s stock valued at $749,000 after acquiring an additional 79 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Stephen C. Brinkley sold 6,437 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $150.97, for a total transaction of $971,793.89. Following the transaction, the insider directly owned 57,012 shares of the company’s stock, valued at approximately $8,607,101.64. This trade represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Karen Fleming sold 2,932 shares of Ross Stores stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $149.09, for a total transaction of $437,131.88. Following the sale, the chief marketing officer directly owned 88,335 shares of the company’s stock, valued at $13,169,865.15. This represents a 3.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,720 shares of company stock worth $7,154,172 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Robert W. Baird boosted their price objective on Ross Stores from $170.00 to $182.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Citigroup boosted their target price on Ross Stores from $171.00 to $188.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Cowen restated a “buy” rating on shares of Ross Stores in a research report on Thursday. BTIG Research initiated coverage on shares of Ross Stores in a research report on Tuesday, October 14th. They set a “neutral” rating on the stock. Finally, Bank of America increased their target price on shares of Ross Stores from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.00.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $177.87 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $161.57 and its two-hundred day moving average is $147.82. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $179.05. The company has a market capitalization of $57.85 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 3.91 and a beta of 1.03.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, November 20th. The apparel retailer reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.20. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.38 billion. Ross Stores had a net margin of 9.47% and a return on equity of 37.21%. The business’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 earnings per share. Ross Stores has set its FY 2025 guidance at 6.380-6.46 EPS and its Q4 2025 guidance at 1.770-1.85 EPS. As a group, analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 9th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, December 9th. Ross Stores’s dividend payout ratio is currently 25.31%.

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.