Sumitomo Mitsui Trust Group Inc. Sells 62,717 Shares of Ross Stores, Inc. $ROST

Sumitomo Mitsui Trust Group Inc. lessened its position in Ross Stores, Inc. (NASDAQ:ROST) by 8.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 709,609 shares of the apparel retailer’s stock after selling 62,717 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Ross Stores worth $165,623,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Virtus Advisers LLC purchased a new stake in shares of Ross Stores during the second quarter worth about $38,000. Twin Lakes Capital Management LLC purchased a new position in Ross Stores during the 2nd quarter valued at about $41,000. Bell Investment Advisors Inc purchased a new position in Ross Stores during the 2nd quarter valued at about $43,000. BOK Financial Private Wealth Inc. bought a new position in Ross Stores during the 2nd quarter valued at approximately $44,000. Finally, Elevation Wealth Partners LLC raised its position in Ross Stores by 402.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 211 shares of the apparel retailer’s stock valued at $45,000 after purchasing an additional 169 shares during the last quarter. Institutional investors own 86.86% of the company’s stock.

Insiders Place Their Bets

In other news, insider Stephen Brinkley sold 6,424 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the completion of the transaction, the insider directly owned 51,665 shares in the company, valued at $11,865,383.90. This trade represents a 11.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Conroy sold 49,205 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $229.48, for a total value of $11,291,563.40. Following the transaction, the chief executive officer owned 134,349 shares of the company’s stock, valued at $30,830,408.52. The trade was a 26.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $228.28 on Monday. Ross Stores, Inc. has a 12 month low of $157.39 and a 12 month high of $257.00. The firm has a market capitalization of $72.92 billion, a P/E ratio of 27.64, a P/E/G ratio of 2.04 and a beta of 0.85. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $231.17 and a two-hundred day simple moving average of $222.06.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping the consensus estimate of $1.95 by $0.71. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the previous year, the firm posted $1.56 earnings per share. Ross Stores’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Ross Stores, Inc. will post 8.15 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th were issued a $0.4450 dividend. This represents a $1.78 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 8th. Ross Stores’s payout ratio is 21.55%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Zacks Research raised Ross Stores from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Bank of America cut their price target on shares of Ross Stores from $265.00 to $258.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Telsey Advisory Group upped their price objective on shares of Ross Stores from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Jefferies Financial Group raised their target price on shares of Ross Stores from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Finally, Morgan Stanley boosted their price target on shares of Ross Stores from $231.00 to $234.00 and gave the company an “equal weight” rating in a research report on Friday, August 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $272.06.

About Ross Stores

Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.

Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.

Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.