Cullinan Associates Inc. Sells 3,100 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Cullinan Associates Inc. lessened its stake in Ross Stores, Inc. (NASDAQ:ROST) by 37.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,167 shares of the apparel retailer’s stock after selling 3,100 shares during the quarter. Cullinan Associates Inc.’s holdings in Ross Stores were worth $761,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Riverview Trust Co acquired a new stake in Ross Stores in the first quarter worth $26,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ross Stores during the second quarter valued at about $27,000. SJS Investment Consulting Inc. lifted its position in shares of Ross Stores by 262.1% during the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in shares of Ross Stores during the second quarter valued at about $32,000. Finally, Armstrong Advisory Group Inc. bought a new stake in Ross Stores in the third quarter worth about $33,000. 86.86% of the stock is owned by institutional investors.

Ross Stores Price Performance

Shares of Ross Stores stock traded up $0.35 on Friday, hitting $144.73. 78,847 shares of the company traded hands, compared to its average volume of 2,215,651. The stock has a market capitalization of $48.02 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 2.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. Ross Stores, Inc. has a 52 week low of $112.39 and a 52 week high of $163.60. The business has a 50-day simple moving average of $149.50 and a 200 day simple moving average of $143.39.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.09. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 earnings per share. Research analysts expect that Ross Stores, Inc. will post 6.2 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were given a $0.3675 dividend. This represents a $1.47 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, September 10th. Ross Stores’s dividend payout ratio is presently 23.71%.

Insider Buying and Selling

In related news, CEO Barbara Rentler sold 48,885 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the sale, the chief executive officer now owns 311,853 shares in the company, valued at approximately $48,003,532.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Chairman Michael Balmuth sold 14,887 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the transaction, the chairman now owns 11,133 shares in the company, valued at $1,694,665.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Barbara Rentler sold 48,885 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the completion of the transaction, the chief executive officer now owns 311,853 shares in the company, valued at approximately $48,003,532.29. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,138 shares of company stock worth $11,093,051. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on ROST shares. Bank of America lifted their price objective on shares of Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. StockNews.com raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. Telsey Advisory Group lifted their target price on shares of Ross Stores from $160.00 to $175.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Robert W. Baird lifted their target price on shares of Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, TD Cowen lifted their target price on shares of Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.71.

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.