Willis Investment Counsel grew its position in Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 8.3% in the third quarter, HoldingsChannel.com reports. The firm owned 50,060 shares of the apparel retailer’s stock after acquiring an additional 3,816 shares during the period. Willis Investment Counsel’s holdings in Ross Stores were worth $11,684,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Net Worth Advisory Group lifted its holdings in shares of Ross Stores by 4.2% in the third quarter. Net Worth Advisory Group now owns 1,047 shares of the apparel retailer’s stock worth $245,000 after buying an additional 42 shares in the last quarter. Greenleaf Trust lifted its position in Ross Stores by 0.9% during the second quarter. Greenleaf Trust now owns 6,026 shares of the apparel retailer’s stock valued at $1,283,000 after purchasing an additional 51 shares during the last quarter. Cooper Financial Group grew its stake in shares of Ross Stores by 2.8% in the 2nd quarter. Cooper Financial Group now owns 1,919 shares of the apparel retailer’s stock worth $409,000 after buying an additional 52 shares in the last quarter. RFG Advisory LLC increased its stake in Ross Stores by 3.8% during the second quarter. RFG Advisory LLC now owns 1,430 shares of the apparel retailer’s stock worth $304,000 after acquiring an additional 52 shares during the last quarter. Finally, Eastern Bank increased its position in shares of Ross Stores by 0.5% during the 3rd quarter. Eastern Bank now owns 10,557 shares of the apparel retailer’s stock valued at $2,464,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 86.86% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Ross Stores from $262.00 to $272.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Jefferies Financial Group increased their target price on shares of Ross Stores from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, August 21st. Zacks Research upgraded Ross Stores from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Robert W. Baird raised their price target on Ross Stores from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, August 21st. Finally, Evercore set a $290.00 price target on Ross Stores in a report on Friday, August 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $263.76.
Read Our Latest Analysis on ROST
Ross Stores Stock Performance
Shares of ROST stock traded down $1.83 during trading hours on Tuesday, hitting $236.83. The company’s stock had a trading volume of 567,604 shares, compared to its average volume of 2,620,039. Ross Stores, Inc. has a 12-month low of $154.87 and a 12-month high of $257.00. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The stock has a market cap of $75.65 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 1.99 and a beta of 0.83. The company has a 50 day moving average of $232.50 and a 200 day moving average of $229.71.
Ross Stores (NASDAQ:ROST – Get Free Report) last released its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping the consensus estimate of $1.95 by $0.71. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the prior year, the firm posted $1.56 EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts forecast that Ross Stores, Inc. will post 8.15 EPS for the current fiscal year.
Ross Stores Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th were issued a dividend of $0.4450 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. Ross Stores’s dividend payout ratio is presently 21.55%.
Insider Buying and Selling at Ross Stores
In related news, insider Stephen C. Brinkley sold 6,424 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the completion of the sale, the insider owned 51,665 shares of the company’s stock, valued at approximately $11,865,383.90. This represents a 11.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Conroy sold 49,205 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $229.48, for a total transaction of $11,291,563.40. Following the completion of the sale, the chief executive officer owned 134,349 shares of the company’s stock, valued at approximately $30,830,408.52. The trade was a 26.81% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.10% of the stock is currently owned by corporate insiders.
Ross Stores Company Profile
Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.
Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.
Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.
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