Livforsakringsbolaget Skandia Omsesidigt Sells 700 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Livforsakringsbolaget Skandia Omsesidigt lessened its stake in Ross Stores, Inc. (NASDAQ:ROST) by 26.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,987 shares of the apparel retailer’s stock after selling 700 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Ross Stores were worth $254,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Strategic Financial Concepts LLC bought a new stake in shares of Ross Stores during the 4th quarter valued at $2,471,000. Kingsview Wealth Management LLC raised its position in shares of Ross Stores by 3.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 2,983 shares of the apparel retailer’s stock valued at $451,000 after acquiring an additional 89 shares during the last quarter. Savant Capital LLC raised its position in shares of Ross Stores by 2.6% during the 4th quarter. Savant Capital LLC now owns 16,953 shares of the apparel retailer’s stock valued at $2,565,000 after acquiring an additional 429 shares during the last quarter. Mill Creek Capital Advisors LLC bought a new stake in shares of Ross Stores during the 4th quarter valued at $209,000. Finally, Violich Capital Management Inc. bought a new stake in shares of Ross Stores during the 4th quarter valued at $265,000. Institutional investors own 86.86% of the company’s stock.

Insider Transactions at Ross Stores

In related news, COO Michael J. Hartshorn sold 7,492 shares of Ross Stores stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $127.69, for a total value of $956,653.48. Following the transaction, the chief operating officer now directly owns 139,091 shares of the company’s stock, valued at $17,760,529.79. This trade represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Karen Fleming sold 5,339 shares of Ross Stores stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.73, for a total transaction of $671,272.47. Following the completion of the transaction, the chief marketing officer now directly owns 94,063 shares in the company, valued at $11,826,540.99. This trade represents a 5.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,398 shares of company stock valued at $4,439,950. 2.20% of the stock is currently owned by company insiders.

Ross Stores Trading Down 1.5%

Shares of NASDAQ:ROST opened at $140.08 on Wednesday. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60. The company has a market capitalization of $46.06 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 2.13 and a beta of 1.14. The company has a 50-day simple moving average of $141.39 and a 200 day simple moving average of $142.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.03. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The business had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same period last year, the business posted $1.46 EPS. Ross Stores’s revenue was up 2.6% on a year-over-year basis. Sell-side analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.405 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.62 annualized dividend and a dividend yield of 1.16%. Ross Stores’s dividend payout ratio is presently 25.59%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ROST shares. JPMorgan Chase & Co. lowered their price objective on shares of Ross Stores from $161.00 to $141.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. BMO Capital Markets lowered their price objective on shares of Ross Stores from $168.00 to $156.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley lowered their price objective on shares of Ross Stores from $128.00 to $126.00 and set an “equal weight” rating for the company in a research report on Friday, May 23rd. Evercore ISI lowered their price objective on shares of Ross Stores from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, May 23rd. Finally, Wall Street Zen cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $158.67.

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.