Ross Stores, Inc. $ROST is Teca Partners LP’s 9th Largest Position

Teca Partners LP lowered its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 20.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,448 shares of the apparel retailer’s stock after selling 18,445 shares during the quarter. Ross Stores accounts for 7.0% of Teca Partners LP’s holdings, making the stock its 9th biggest position. Teca Partners LP’s holdings in Ross Stores were worth $11,040,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Woodline Partners LP raised its position in Ross Stores by 39.9% during the first quarter. Woodline Partners LP now owns 27,875 shares of the apparel retailer’s stock valued at $3,562,000 after acquiring an additional 7,951 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Ross Stores by 23.5% during the first quarter. Geneos Wealth Management Inc. now owns 615 shares of the apparel retailer’s stock valued at $79,000 after buying an additional 117 shares during the period. Savant Capital LLC raised its position in shares of Ross Stores by 11.5% in the second quarter. Savant Capital LLC now owns 9,992 shares of the apparel retailer’s stock worth $1,275,000 after acquiring an additional 1,028 shares during the period. Allworth Financial LP grew its position in shares of Ross Stores by 4.3% during the 2nd quarter. Allworth Financial LP now owns 4,211 shares of the apparel retailer’s stock valued at $537,000 after acquiring an additional 175 shares during the period. Finally, Vise Technologies Inc. purchased a new position in shares of Ross Stores in the 2nd quarter valued at about $1,065,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Trading Down 1.0%

Shares of ROST traded down $2.10 during trading on Friday, reaching $207.75. 285,291 shares of the company traded hands, compared to its average volume of 2,571,445. The company has a quick ratio of 1.04, a current ratio of 1.58 and a debt-to-equity ratio of 0.16. The stock has a market cap of $67.20 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 2.90 and a beta of 0.97. The stock has a 50-day simple moving average of $195.84 and a 200-day simple moving average of $173.81. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $216.80.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Tuesday, March 3rd. The apparel retailer reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.10. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.42 billion. Ross Stores had a return on equity of 36.70% and a net margin of 9.43%.The company’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 earnings per share. On average, analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, March 13th. This is a boost from Ross Stores’s previous quarterly dividend of $0.41. Ross Stores’s dividend payout ratio (DPR) is 24.51%.

Wall Street Analyst Weigh In

ROST has been the subject of several research analyst reports. Bank of America upped their target price on Ross Stores from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Weiss Ratings restated a “buy (b)” rating on shares of Ross Stores in a research report on Friday, January 9th. TD Cowen restated a “buy” rating on shares of Ross Stores in a report on Thursday, December 4th. Guggenheim boosted their price target on shares of Ross Stores from $199.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, Barclays upped their price target on Ross Stores from $205.00 to $221.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.29.

Insider Buying and Selling

In other news, Director Patricia H. Mueller sold 1,881 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $213.13, for a total value of $400,897.53. Following the transaction, the director owned 2,159 shares in the company, valued at approximately $460,147.67. This represents a 46.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Karen Sykes sold 2,556 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $213.91, for a total transaction of $546,753.96. Following the completion of the transaction, the chief marketing officer owned 103,945 shares in the company, valued at $22,234,874.95. This represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.20% of the stock is currently owned by corporate insiders.

Ross Stores Profile

Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.