Liberty Mutual Group Asset Management Inc. Reduces Stake in Ross Stores, Inc. (ROST)

Liberty Mutual Group Asset Management Inc. cut its position in Ross Stores, Inc. (NASDAQ:ROST) by 25.0% during the first quarter, Holdings Channel reports. The institutional investor owned 21,811 shares of the apparel retailer’s stock after selling 7,275 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Ross Stores were worth $1,437,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cipher Capital LP acquired a new stake in Ross Stores during the fourth quarter valued at approximately $251,000. Renaissance Technologies LLC acquired a new stake in Ross Stores during the fourth quarter valued at approximately $27,508,000. Roundview Capital LLC raised its stake in Ross Stores by 0.5% in the fourth quarter. Roundview Capital LLC now owns 15,670 shares of the apparel retailer’s stock valued at $1,028,000 after buying an additional 82 shares in the last quarter. A.R.T. Advisors LLC raised its stake in Ross Stores by 1,419.0% in the fourth quarter. A.R.T. Advisors LLC now owns 127,600 shares of the apparel retailer’s stock valued at $8,370,000 after buying an additional 119,200 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Ross Stores during the fourth quarter valued at approximately $812,000. 90.25% of the stock is owned by institutional investors.

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

Ross Stores, Inc. (ROST) opened at 56.29 on Monday. The firm has a market cap of $21.91 billion, a price-to-earnings ratio of 19.28 and a beta of 1.07. The firm has a 50-day moving average of $62.72 and a 200 day moving average of $65.46. Ross Stores, Inc. has a 1-year low of $52.75 and a 1-year high of $69.81. Ross Stores also was the recipient of some unusual options trading activity on Friday. Investors acquired 5,918 put options on the company. This is an increase of approximately 454% compared to the typical daily volume of 1,068 put options.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. Analysts expect that Ross Stores, Inc. will post $3.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Tuesday, June 6th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Friday, June 2nd. Ross Stores’s payout ratio is currently 21.92%.

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Several research firms recently commented on ROST. Royal Bank Of Canada set a $67.00 target price on shares of Ross Stores and gave the company a “hold” rating in a research note on Monday, June 19th. Telsey Advisory Group increased their target price on shares of Ross Stores from $70.00 to $77.00 and gave the company a “market perform” rating in a research note on Wednesday, March 1st. William Blair reissued an “outperform” rating on shares of Ross Stores in a research note on Monday, May 22nd. Zacks Investment Research lowered shares of Ross Stores from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Finally, BMO Capital Markets increased their target price on shares of Ross Stores from $65.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $70.00.

In other Ross Stores news, insider Brian R. Morrow sold 3,004 shares of Ross Stores stock in a transaction that occurred on Friday, April 7th. The shares were sold at an average price of $63.16, for a total value of $189,732.64. Following the transaction, the insider now owns 121,712 shares of the company’s stock, valued at $7,687,329.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael J. Bush sold 8,762 shares of Ross Stores stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $66.51, for a total transaction of $582,760.62. Following the completion of the transaction, the director now directly owns 36,180 shares in the company, valued at approximately $2,406,331.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,896 shares of company stock worth $1,792,393. Insiders own 2.30% of the company’s stock.

Ross Stores Company Profile

Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.

Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST).

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