Cerebellum GP LLC Reduces Position in Ross Stores, Inc. (NASDAQ:ROST)

Cerebellum GP LLC cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 50.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,639 shares of the apparel retailer’s stock after selling 1,665 shares during the period. Cerebellum GP LLC’s holdings in Ross Stores were worth $132,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ROST. Accident Compensation Corp bought a new position in Ross Stores in the first quarter valued at about $205,000. Enlightenment Research LLC bought a new position in Ross Stores in the second quarter valued at about $1,100,000. Elkfork Partners LLC lifted its holdings in Ross Stores by 10.9% in the second quarter. Elkfork Partners LLC now owns 127,736 shares of the apparel retailer’s stock valued at $12,662,000 after acquiring an additional 12,572 shares during the period. Hendershot Investments Inc. lifted its holdings in Ross Stores by 0.7% in the second quarter. Hendershot Investments Inc. now owns 50,555 shares of the apparel retailer’s stock valued at $5,011,000 after acquiring an additional 345 shares during the period. Finally, Ballentine Partners LLC lifted its holdings in Ross Stores by 9.7% in the second quarter. Ballentine Partners LLC now owns 7,091 shares of the apparel retailer’s stock valued at $702,000 after acquiring an additional 629 shares during the period. 89.66% of the stock is currently owned by institutional investors.

ROST has been the topic of a number of recent research reports. BidaskClub raised Ross Stores from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Goldman Sachs Group downgraded Ross Stores from a “neutral” rating to a “sell” rating and lowered their target price for the company from $102.00 to $91.00 in a report on Thursday, June 27th. Bank of America set a $120.00 target price on Ross Stores and gave the company a “buy” rating in a report on Friday, August 23rd. Citigroup increased their target price on Ross Stores from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Co increased their target price on Ross Stores from $104.00 to $116.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $107.61.

In related news, insider James S. Fassio sold 85,238 shares of Ross Stores stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $104.85, for a total transaction of $8,937,204.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director George Orban sold 1,000 shares of Ross Stores stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $102.50, for a total value of $102,500.00. Following the sale, the director now directly owns 543,939 shares in the company, valued at approximately $55,753,747.50. The disclosure for this sale can be found here. Insiders sold 180,238 shares of company stock worth $19,167,164 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Shares of NASDAQ ROST traded down $0.79 during trading on Monday, hitting $108.14. The company had a trading volume of 120,713 shares, compared to its average volume of 1,935,218. The stock has a 50 day simple moving average of $106.70 and a 200 day simple moving average of $100.96. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.63 and a current ratio of 1.31. Ross Stores, Inc. has a 12 month low of $75.91 and a 12 month high of $111.42. The firm has a market capitalization of $38.68 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.14 EPS for the quarter, topping the consensus estimate of $1.12 by $0.02. Ross Stores had a return on equity of 49.21% and a net margin of 10.46%. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the company earned $1.04 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, analysts predict that Ross Stores, Inc. will post 4.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 12th were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Wednesday, September 11th. Ross Stores’s dividend payout ratio (DPR) is currently 23.94%.

Ross Stores Company 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.

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

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