NewEdge Advisors LLC Has $1.52 Million Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

NewEdge Advisors LLC lessened its stake in Ross Stores, Inc. (NASDAQ:ROST) by 18.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,437 shares of the apparel retailer’s stock after selling 2,344 shares during the quarter. NewEdge Advisors LLC’s holdings in Ross Stores were worth $1,517,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in Ross Stores in the 1st quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in shares of Ross Stores in the first quarter valued at approximately $27,000. SJS Investment Consulting Inc. lifted its position in shares of Ross Stores by 262.1% in the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in shares of Ross Stores in the second quarter worth $32,000. Finally, Raleigh Capital Management Inc. boosted its holdings in Ross Stores by 41.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock worth $35,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Down 0.8 %

Shares of ROST opened at $145.58 on Friday. The firm has a market cap of $48.30 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.09. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. Ross Stores, Inc. has a 52 week low of $110.02 and a 52 week high of $163.60. The firm’s 50-day simple moving average is $148.29 and its 200 day simple moving average is $143.36.

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

Ross Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were paid a $0.3675 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.47 annualized dividend and a dividend yield of 1.01%. Ross Stores’s dividend payout ratio (DPR) is presently 24.79%.

Insider Buying and Selling

In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of the 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 transaction, the chief operating officer now owns 103,049 shares in the company, valued at $16,038,546.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Barbara Rentler sold 48,885 shares of Ross Stores stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at $48,003,532.29. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $155.64, for a total value of $1,302,084.24. Following the sale, the chief operating officer now owns 103,049 shares of the company’s stock, valued at $16,038,546.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,138 shares of company stock valued at $11,093,051. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on ROST. Wells Fargo & Company lifted their price target on shares of Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Telsey Advisory Group upped their target price on Ross Stores from $160.00 to $175.00 and gave the stock a “market perform” rating in a report on Friday, August 23rd. Gordon Haskett raised Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. StockNews.com raised Ross Stores from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. Finally, TD Cowen increased their price objective on Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.71.

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.