State of Alaska Department of Revenue Sells 8,396 Shares of Ross Stores, Inc. (NASDAQ:ROST)

State of Alaska Department of Revenue trimmed its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172,583 shares of the apparel retailer’s stock after selling 8,396 shares during the period. State of Alaska Department of Revenue’s holdings in Ross Stores were worth $17,104,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Wetherby Asset Management Inc. grew its stake in Ross Stores by 1.0% in the 1st quarter. Wetherby Asset Management Inc. now owns 11,353 shares of the apparel retailer’s stock worth $1,057,000 after acquiring an additional 114 shares in the last quarter. Cetera Advisor Networks LLC grew its stake in Ross Stores by 0.9% in the 1st quarter. Cetera Advisor Networks LLC now owns 13,143 shares of the apparel retailer’s stock worth $1,225,000 after acquiring an additional 116 shares in the last quarter. Private Trust Co. NA grew its stake in Ross Stores by 2.1% in the 1st quarter. Private Trust Co. NA now owns 5,826 shares of the apparel retailer’s stock worth $542,000 after acquiring an additional 120 shares in the last quarter. Berman Capital Advisors LLC grew its stake in Ross Stores by 32.2% in the 1st quarter. Berman Capital Advisors LLC now owns 522 shares of the apparel retailer’s stock worth $48,000 after acquiring an additional 127 shares in the last quarter. Finally, Welch Group LLC grew its stake in Ross Stores by 4.1% in the 2nd quarter. Welch Group LLC now owns 3,281 shares of the apparel retailer’s stock worth $325,000 after acquiring an additional 130 shares in the last quarter. Institutional investors own 89.73% of the company’s stock.

A number of equities analysts have commented on ROST shares. Zacks Investment Research upgraded shares of Gerdau from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Goldman Sachs Group raised shares of to a “neutral” rating and lowered their price target for the stock from GBX 1,855 ($24.24) to GBX 1,800 ($23.52) in a research report on Thursday, June 27th. Telsey Advisory Group cut shares of Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 price target for the company. in a research report on Monday, June 24th. Robert W. Baird initiated coverage on shares of TJX Companies in a research report on Monday, May 13th. They issued an “outperform” rating and a $63.00 price target for the company. Finally, BidaskClub cut shares of Zai Lab from a “strong-buy” rating to a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $98.64.

In other Ross Stores news, insider James S. Fassio sold 85,238 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $104.85, for a total value of $8,937,204.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director George Orban sold 29,000 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $105.89, for a total transaction of $3,070,810.00. Following the completion of the transaction, the director now directly owns 542,939 shares of the company’s stock, valued at approximately $57,491,810.71. The disclosure for this sale can be found here. Insiders have sold 296,287 shares of company stock valued at $29,806,735 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

NASDAQ:ROST traded down $0.09 during midday trading on Tuesday, reaching $106.42. 43,991 shares of the stock traded hands, compared to its average volume of 1,858,374. Ross Stores, Inc. has a 12-month low of $75.91 and a 12-month high of $108.20. The firm has a 50-day moving average price of $103.12. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.34 and a quick ratio of 0.64. The company has a market cap of $38.96 billion, a PE ratio of 24.98, a PEG ratio of 2.28 and a beta of 0.90.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.01. Ross Stores had a net margin of 10.47% and a return on equity of 48.92%. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the prior year, the company posted $1.11 earnings per share. Ross Stores’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts forecast that Ross Stores, Inc. will post 4.51 EPS for the current year.

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 brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

Further Reading: Inflation

Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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