Cyndeo Wealth Partners LLC Makes New $215,000 Investment in Ross Stores, Inc. (NASDAQ:ROST)

Cyndeo Wealth Partners LLC acquired a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,428 shares of the apparel retailer’s stock, valued at approximately $215,000.

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

Insider Activity

In related news, CEO Barbara Rentler sold 48,885 shares of Ross Stores stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 311,853 shares in the company, valued at $48,003,532.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores 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 completion of the sale, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at $16,038,546.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Barbara Rentler sold 48,885 shares of Ross Stores stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 311,853 shares of the company’s stock, valued at $48,003,532.29. 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 ninety days, 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 Analyst Weigh In

ROST has been the topic of several research analyst reports. Loop Capital boosted their target price on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Barclays increased their price objective on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Bank of America lifted their target price on Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Telsey Advisory Group increased their price target on Ross Stores from $160.00 to $175.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Finally, UBS Group raised their price target on Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $169.71.

Ross Stores Trading Down 1.7 %

Shares of ROST opened at $147.29 on Tuesday. Ross Stores, Inc. has a twelve month low of $112.39 and a twelve month high of $163.60. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $149.34 and its 200-day simple moving average is $143.33. The company has a market cap of $48.86 billion, a P/E ratio of 23.76, a P/E/G ratio of 2.44 and a beta of 1.09.

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

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.3675 per share. The ex-dividend date was Tuesday, September 10th. This represents a $1.47 annualized dividend and a dividend yield of 1.00%. Ross Stores’s dividend payout ratio (DPR) is 23.71%.

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.