Adero Partners LLC Buys Shares of 1,589 Ross Stores, Inc. (NASDAQ:ROST)

Adero Partners LLC bought a new stake in Ross Stores, Inc. (NASDAQ:ROST) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,589 shares of the apparel retailer’s stock, valued at approximately $231,000.

Other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Ross Stores by 9.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 888 shares of the apparel retailer’s stock valued at $123,000 after acquiring an additional 73 shares in the last quarter. Raleigh Capital Management Inc. raised its position in shares of Ross Stores by 41.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. Quotient Wealth Partners LLC raised its position in shares of Ross Stores by 4.0% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,197 shares of the apparel retailer’s stock valued at $319,000 after acquiring an additional 85 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Ross Stores by 9.8% during the 4th quarter. First Horizon Advisors Inc. now owns 961 shares of the apparel retailer’s stock valued at $133,000 after acquiring an additional 86 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its position in shares of Ross Stores by 2.4% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,673 shares of the apparel retailer’s stock valued at $534,000 after acquiring an additional 86 shares in the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ross Stores

In related news, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 311,853 shares of the company’s stock, valued at $48,003,532.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ROST. Wells Fargo & Company upped their price target on Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Bank of America upped their price target on Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. StockNews.com upgraded Ross Stores from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Loop Capital upped their price objective on Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and an average target price of $169.71.

Ross Stores Trading Down 0.8 %

NASDAQ:ROST opened at $150.61 on Friday. Ross Stores, Inc. has a 1 year low of $108.35 and a 1 year high of $163.60. The stock has a market cap of $50.24 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 2.17 and a beta of 1.08. The business has a fifty day moving average of $145.68 and a 200-day moving average of $142.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.54.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results 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. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The company 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 posted $1.32 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts predict that Ross Stores, Inc. will post 5.97 earnings per share for the current year.

Ross Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be paid a dividend of $0.3675 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.47 annualized dividend and a yield of 0.98%. Ross Stores’s dividend payout ratio is currently 24.79%.

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.