Foyston Gordon & Payne Inc Reduces Its Stake in Ross Stores, Inc.

Foyston Gordon & Payne Inc has decreased its investment in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 20.0% in the third quarter, according to the latest Form 13F filing with the SEC. After selling 9,518 shares, the firm now holds a total of 38,138 shares of the apparel retailer's stock. This investment represents around 1.4% of Foyston Gordon & Payne Inc's overall portfolio and is categorized as its 27th largest holding. The approximate value of Foyston Gordon & Payne Inc's shares in Ross Stores is $5,740,000, as noted in their recent SEC filing.

Other Institutional Highlights

Other hedge funds have also made adjustments to their positions in Ross Stores. For instance, PGGM Investments significantly increased its stake by 724.1% during the second quarter, now owning 24,848 shares valued at $3,611,000 after acquiring 21,833 shares during that time. Similarly, Algert Global LLC raised its holdings by 917.2% in the third quarter, bringing its total to 29,498 shares worth $4,440,000 after purchasing an additional 26,598 shares. Diversified Trust Co also increased its stake in Ross Stores by 47.5% in the second quarter, while Legal & General Group Plc elevated its ownership by 10.3%. Quantinno Capital Management LP raised its position by 48.8% in the third quarter, now owning 49,523 shares valued at $7,454,000. Overall, institutional investors and hedge funds collectively hold 86.86% of Ross Stores' stock.

Insider Trading Activity

In related news, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores on September 16th at an average price of $155.64, totaling $1,302,084.24. Following this sale, Hartshorn owns 103,049 shares, valued at approximately $16,038,546.36, reflecting a 7.51% drop in his position. This transaction is publicly recorded in a document filed with the SEC, and currently, insiders hold around 2.10% of Ross Stores' stock.

Current Stock Performance of Ross Stores

The shares of Ross Stores (NASDAQ:ROST - Get Free Report) traded at $156.24 on Tuesday. The company has a market capitalization of $51.83 billion and reports a P/E ratio of 24.60 and a P/E/G ratio of 2.59, with a beta value of 1.10. The firm’s fifty-day moving average is $145.80, while the two-hundred-day moving average stands at $146.42. Over the last 52 weeks, Ross Stores' stock has a low of $127.53 and a high of $163.60, with a quick ratio of 0.98, a current ratio of 1.57, and a debt-to-equity ratio of 0.29.

Dividend Announcement

Recently, Ross Stores announced a quarterly dividend to be paid on December 31st, with a dividend of $0.3675 per share for investors of record by December 10th. This equates to an annualized dividend of $1.47, resulting in a yield of 0.94%. The company’s dividend payout ratio is 23.15%.

Analyst Ratings Updates

Several brokerage firms have recently changed their ratings and price targets for Ross Stores. Barclays has increased its target from $165.00 to $175.00 while maintaining an "overweight" rating. On the other hand, TD Cowen has cut its target from $185.00 to $177.00, indicating a "buy" rating. Guggenheim reaffirmed a "buy" rating with a price target of $180. Similarly, JPMorgan Chase & Co. raised their price objective from $171.00 to $173.00. Evercore ISI also boosted their target from $170.00 to $180.00. Currently, five analysts recommend holding the stock, while twelve suggest buying, and one has a strong buy rating. The consensus average rating is "Moderate Buy" with an average price target of $171.69.

Profile of Ross Stores

Ross Stores, Inc., along with its subsidiaries, operates off-price retail apparel and home fashion stores, primarily under the names Ross Dress for Less and dd's DISCOUNTS in the United States. These stores primarily cater to middle and moderate-income households.

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