Cresset Asset Management LLC Sells 792 Shares of Ross Stores, Inc. $ROST

Cresset Asset Management LLC lessened its position in Ross Stores, Inc. (NASDAQ:ROST) by 3.4% during the first quarter, Holdings Channel reports. The fund owned 22,550 shares of the apparel retailer’s stock after selling 792 shares during the period. Cresset Asset Management LLC’s holdings in Ross Stores were worth $2,882,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ROST. Vanguard Group Inc. increased its stake in Ross Stores by 17.0% in the first quarter. Vanguard Group Inc. now owns 34,121,706 shares of the apparel retailer’s stock valued at $4,360,413,000 after acquiring an additional 4,946,101 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Ross Stores by 25.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer’s stock valued at $2,952,170,000 after acquiring an additional 3,995,760 shares during the last quarter. Royal Bank of Canada increased its stake in Ross Stores by 69.6% in the fourth quarter. Royal Bank of Canada now owns 3,336,312 shares of the apparel retailer’s stock valued at $504,684,000 after acquiring an additional 1,368,571 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in Ross Stores in the fourth quarter valued at $176,973,000. Finally, Nuveen LLC bought a new position in Ross Stores in the first quarter valued at $122,043,000. Institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Performance

Ross Stores stock opened at $146.06 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average of $135.19 and a 200-day moving average of $137.11. The firm has a market cap of $47.77 billion, a P/E ratio of 23.07, a P/E/G ratio of 2.82 and a beta of 1.11. Ross Stores, Inc. has a 1-year low of $122.36 and a 1-year high of $163.60.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The company had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.94 billion. During the same period in the prior year, the business posted $1.46 earnings per share. Ross Stores’s revenue for the quarter was up 2.6% on a year-over-year basis. Sell-side analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were issued a $0.405 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $1.62 annualized dividend and a yield of 1.1%. Ross Stores’s dividend payout ratio (DPR) is 25.59%.

Analysts Set New Price Targets

ROST has been the topic of a number of recent research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $150.00 price objective on shares of Ross Stores in a research note on Monday. Wall Street Zen cut Ross Stores from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. raised their price objective on Ross Stores from $154.00 to $156.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Evercore ISI reduced their price objective on Ross Stores from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, May 23rd. Finally, Wells Fargo & Company reduced their price objective on Ross Stores from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $159.06.

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.