Raymond James & Associates Acquires 7,331 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Raymond James & Associates boosted its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 284,978 shares of the apparel retailer’s stock after acquiring an additional 7,331 shares during the period. Raymond James & Associates’ holdings in Ross Stores were worth $42,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC raised its position in shares of Ross Stores by 68.8% in the second quarter. Los Angeles Capital Management LLC now owns 2,391,856 shares of the apparel retailer’s stock valued at $347,585,000 after purchasing an additional 975,190 shares during the period. AQR Capital Management LLC raised its holdings in Ross Stores by 59.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,261,102 shares of the apparel retailer’s stock valued at $183,263,000 after acquiring an additional 469,717 shares during the period. Principal Financial Group Inc. lifted its position in Ross Stores by 27.8% during the second quarter. Principal Financial Group Inc. now owns 1,814,440 shares of the apparel retailer’s stock worth $263,675,000 after acquiring an additional 394,774 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Ross Stores by 24.2% during the second quarter. 1832 Asset Management L.P. now owns 2,007,528 shares of the apparel retailer’s stock worth $291,734,000 after acquiring an additional 390,518 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Ross Stores by 11.7% in the second quarter. Victory Capital Management Inc. now owns 3,310,364 shares of the apparel retailer’s stock valued at $481,062,000 after purchasing an additional 347,006 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Price Performance

Shares of ROST stock opened at $145.75 on Wednesday. The business has a fifty day simple moving average of $149.42 and a 200 day simple moving average of $143.37. The company has a market cap of $48.35 billion, a P/E ratio of 23.51, a P/E/G ratio of 2.44 and a beta of 1.09. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. Ross Stores, Inc. has a twelve month low of $112.39 and a twelve month high of $163.60.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 EPS 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 in the prior year, the business earned $1.32 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts forecast that Ross Stores, Inc. will post 6.2 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were given a $0.3675 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a yield of 1.01%. Ross Stores’s dividend payout ratio is currently 23.71%.

Insiders Place Their Bets

In related news, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now owns 103,049 shares of the company’s stock, valued at $16,038,546.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 103,049 shares of the company’s stock, valued at $16,038,546.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Barbara Rentler sold 48,885 shares of Ross Stores stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 owns 311,853 shares in the company, valued at approximately $48,003,532.29. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,138 shares of company stock valued at $11,093,051. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group boosted their price target on Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. Loop Capital lifted their price objective on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Wells Fargo & Company increased their target price on shares of Ross Stores from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Barclays lifted their price target on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Three equities research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.