Pathstone Holdings LLC Sells 78 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Pathstone Holdings LLC lowered its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 0.1% during the third quarter, HoldingsChannel reports. The firm owned 89,986 shares of the apparel retailer’s stock after selling 78 shares during the quarter. Pathstone Holdings LLC’s holdings in Ross Stores were worth $13,544,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Covestor Ltd increased its stake in shares of Ross Stores by 155.5% during the 1st quarter. Covestor Ltd now owns 419 shares of the apparel retailer’s stock worth $62,000 after purchasing an additional 255 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of Ross Stores by 34.6% during the first quarter. Lake Street Advisors Group LLC now owns 2,430 shares of the apparel retailer’s stock worth $357,000 after purchasing an additional 624 shares during the last quarter. EntryPoint Capital LLC lifted its stake in shares of Ross Stores by 154.5% in the first quarter. EntryPoint Capital LLC now owns 308 shares of the apparel retailer’s stock worth $45,000 after acquiring an additional 187 shares during the period. CreativeOne Wealth LLC grew its holdings in Ross Stores by 69.8% during the 1st quarter. CreativeOne Wealth LLC now owns 2,514 shares of the apparel retailer’s stock worth $369,000 after acquiring an additional 1,033 shares during the period. Finally, Wellington Wealth Strategies LLC. bought a new position in shares of Ross Stores during the 1st quarter worth about $270,000. Institutional investors own 86.86% of the company’s stock.

Insider Activity at Ross Stores

In other news, Chairman Michael Balmuth sold 14,887 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total value of $2,266,099.14. Following the completion of the sale, the chairman now directly owns 11,133 shares of the company’s stock, valued at approximately $1,694,665.26. This represents a 57.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction dated 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 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 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,138 shares of company stock valued at $11,093,051 over the last quarter. 2.10% of the stock is owned by insiders.

Ross Stores Trading Up 0.0 %

ROST opened at $139.32 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05. The stock has a market capitalization of $46.22 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 2.36 and a beta of 1.09. The business has a fifty day moving average price of $145.52 and a 200 day moving average price of $144.44. Ross Stores, Inc. has a 12 month low of $127.53 and a 12 month high of $163.60.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter last year, the company earned $1.32 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts expect that Ross Stores, Inc. will post 6.11 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.06%. Ross Stores’s payout ratio is currently 23.71%.

Wall Street Analysts Forecast Growth

ROST has been the subject of a number of analyst reports. Telsey Advisory Group reissued a “market perform” rating and issued a $175.00 price target on shares of Ross Stores in a research report on Monday. Citigroup cut shares of Ross Stores from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $179.00 to $152.00 in a research note on Tuesday, November 12th. Robert W. Baird raised their price target on Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Gordon Haskett raised Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Loop Capital lifted their target price on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Ross Stores has an average rating of “Moderate Buy” and a consensus target price of $169.50.

Ross Stores Company 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.