Envestnet Asset Management Inc. Raises Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Envestnet Asset Management Inc. increased its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 3.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 446,420 shares of the apparel retailer’s stock after acquiring an additional 13,466 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of Ross Stores worth $49,039,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ROST. Commerzbank Aktiengesellschaft FI lifted its stake in Ross Stores by 33.3% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 37,786 shares of the apparel retailer’s stock worth $4,151,000 after purchasing an additional 9,434 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Ross Stores by 1,017.0% during the third quarter. Meeder Asset Management Inc. now owns 83,552 shares of the apparel retailer’s stock worth $9,179,000 after purchasing an additional 76,072 shares in the last quarter. Mission Wealth Management LP lifted its stake in Ross Stores by 17.7% during the third quarter. Mission Wealth Management LP now owns 3,328 shares of the apparel retailer’s stock worth $366,000 after purchasing an additional 500 shares in the last quarter. Schwab Charitable Fund lifted its stake in Ross Stores by 6.3% during the third quarter. Schwab Charitable Fund now owns 3,400 shares of the apparel retailer’s stock worth $373,000 after purchasing an additional 200 shares in the last quarter. Finally, Advisor Partners LLC lifted its stake in Ross Stores by 2.5% during the third quarter. Advisor Partners LLC now owns 8,636 shares of the apparel retailer’s stock worth $949,000 after purchasing an additional 212 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

In other Ross Stores news, insider James S. Fassio sold 15,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $108.66, for a total value of $1,629,900.00. Also, CEO Barbara Rentler sold 25,000 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $110.01, for a total value of $2,750,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,000 shares of company stock worth $7,056,650. 2.30% of the stock is owned by insiders.

Shares of NASDAQ ROST opened at $114.13 on Monday. The stock has a market cap of $40.89 billion, a P/E ratio of 26.79, a PEG ratio of 2.39 and a beta of 0.84. The company has a current ratio of 1.31, a quick ratio of 0.63 and a debt-to-equity ratio of 0.85. Ross Stores, Inc. has a 12-month low of $75.91 and a 12-month high of $114.82. The business’s fifty day simple moving average is $108.74 and its 200-day simple moving average is $102.36.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.02. The business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Ross Stores had a return on equity of 49.21% and a net margin of 10.46%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $1.04 earnings per share. On average, equities analysts forecast that Ross Stores, Inc. will post 4.5 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Wednesday, September 11th. Ross Stores’s dividend payout ratio is presently 23.94%.

A number of research analysts have commented on the company. Bank of America set a $120.00 price target on Ross Stores and gave the stock a “buy” rating in a research note on Friday, August 23rd. Jefferies Financial Group set a $100.00 price target on Ross Stores and gave the stock a “hold” rating in a research note on Friday, August 23rd. Deutsche Bank upped their price target on Ross Stores from $107.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Robert W. Baird restated an “outperform” rating and set a $114.00 price target (up from $108.00) on shares of Ross Stores in a research note on Friday, August 23rd. Finally, Morgan Stanley upped their price target on Ross Stores from $94.00 to $104.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $109.78.

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 brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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