DoubleLine ETF Adviser LP Invests $1.32 Million in Ross Stores, Inc. (NASDAQ:ROST)

DoubleLine ETF Adviser LP purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 9,079 shares of the apparel retailer’s stock, valued at approximately $1,319,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ROST. Riverview Trust Co acquired a new position in shares of Ross Stores during the first quarter valued at approximately $26,000. Rise Advisors LLC purchased a new stake in shares of Ross Stores during the first quarter worth approximately $27,000. SJS Investment Consulting Inc. raised its stake in Ross Stores by 262.1% in the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 152 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Ross Stores in the 2nd quarter valued at $32,000. Finally, Raleigh Capital Management Inc. lifted its holdings in Ross Stores by 41.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after purchasing an additional 74 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the sale, the chief executive officer now directly owns 311,853 shares in the company, valued at $48,003,532.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,138 shares of company stock valued at $11,093,051. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Bank of America increased their target price on shares of Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Telsey Advisory Group increased their price objective on shares of Ross Stores from $160.00 to $175.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Wells Fargo & Company boosted their target price on Ross Stores from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. TD Cowen increased their price target on Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Barclays boosted their price objective on Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $169.71.

Ross Stores Trading Up 0.5 %

Shares of ROST stock opened at $153.08 on Thursday. Ross Stores, Inc. has a 1-year low of $108.35 and a 1-year high of $163.60. The firm has a market cap of $51.06 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 2.44 and a beta of 1.09. The company has a 50-day moving average of $147.34 and a two-hundred day moving average of $143.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter last year, the company posted $1.32 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts predict that Ross Stores, Inc. will post 6.2 EPS for the current year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.3675 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.47 annualized dividend and a dividend yield of 0.96%. Ross Stores’s dividend payout ratio is presently 24.79%.

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 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.