Bank of Montreal Can Sells 53,585 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Bank of Montreal Can cut its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 10.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 482,386 shares of the apparel retailer’s stock after selling 53,585 shares during the quarter. Bank of Montreal Can owned approximately 0.15% of Ross Stores worth $73,110,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. PGGM Investments grew its stake in shares of Ross Stores by 724.1% during the second quarter. PGGM Investments now owns 24,848 shares of the apparel retailer’s stock worth $3,611,000 after buying an additional 21,833 shares during the last quarter. Diversified Trust Co increased its holdings in Ross Stores by 47.5% in the 2nd quarter. Diversified Trust Co now owns 13,124 shares of the apparel retailer’s stock worth $1,907,000 after purchasing an additional 4,228 shares in the last quarter. Janus Henderson Group PLC raised its position in Ross Stores by 42.1% in the first quarter. Janus Henderson Group PLC now owns 63,105 shares of the apparel retailer’s stock valued at $9,260,000 after purchasing an additional 18,685 shares during the last quarter. Algert Global LLC boosted its stake in shares of Ross Stores by 917.2% during the third quarter. Algert Global LLC now owns 29,498 shares of the apparel retailer’s stock valued at $4,440,000 after purchasing an additional 26,598 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Ross Stores by 10.3% in the second quarter. Legal & General Group Plc now owns 2,737,042 shares of the apparel retailer’s stock valued at $397,747,000 after buying an additional 254,720 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ross Stores

In related news, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the sale, the chief operating officer now owns 103,049 shares in the company, valued at approximately $16,038,546.36. This trade represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Michael Balmuth sold 14,887 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the completion of the transaction, the chairman now owns 11,133 shares in the company, valued at approximately $1,694,665.26. The trade was a 57.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Ross Stores Price Performance

Shares of NASDAQ ROST opened at $154.38 on Wednesday. The stock has a market cap of $51.22 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 2.54 and a beta of 1.09. 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, Inc. has a fifty-two week low of $127.53 and a fifty-two week high of $163.60. The firm’s 50-day simple moving average is $145.22 and its 200 day simple moving average is $144.98.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.07. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Ross Stores’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, research analysts anticipate that Ross Stores, Inc. will post 6.15 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Tuesday, December 10th. Ross Stores’s payout ratio is 23.15%.

Wall Street Analysts Forecast Growth

ROST has been the topic of a number of research reports. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $175.00 target price on shares of Ross Stores in a research report on Monday, November 18th. Citigroup lowered Ross Stores from a “buy” rating to a “neutral” rating and reduced their price target for the company from $179.00 to $152.00 in a research report on Tuesday, November 12th. Robert W. Baird raised their price objective on Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $171.69.

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.