Glenview Trust Co Makes New $17.73 Million Investment in Ross Stores, Inc. $ROST

Glenview Trust Co bought a new position in Ross Stores, Inc. (NASDAQ:ROST) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 83,317 shares of the apparel retailer’s stock, valued at approximately $17,734,000.

Several other institutional investors have also made changes to their positions in the company. Cooper Financial Group boosted its stake in 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 purchasing an additional 52 shares during the period. Independent Advisor Alliance raised its stake in Ross Stores by 1.7% during the 4th quarter. Independent Advisor Alliance now owns 3,309 shares of the apparel retailer’s stock valued at $596,000 after purchasing an additional 55 shares during the period. CYBER HORNET ETFs LLC raised its stake in Ross Stores by 6.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 954 shares of the apparel retailer’s stock valued at $172,000 after purchasing an additional 55 shares during the period. MCF Advisors LLC raised its stake in Ross Stores by 4.6% during the 4th quarter. MCF Advisors LLC now owns 1,292 shares of the apparel retailer’s stock valued at $233,000 after purchasing an additional 57 shares during the period. Finally, Caxton Associates LLP lifted its holdings in shares of Ross Stores by 4.3% in the first quarter. Caxton Associates LLP now owns 1,421 shares of the apparel retailer’s stock valued at $308,000 after purchasing an additional 58 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Performance

ROST opened at $229.87 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.61. The company has a market cap of $73.74 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86. The stock has a 50-day moving average of $234.04 and a 200-day moving average of $223.42. Ross Stores, Inc. has a 52-week low of $143.39 and a 52-week high of $257.00.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $6.16 billion. During the same period last year, the business earned $1.56 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts forecast that Ross Stores, Inc. will post 8.15 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be given a $0.445 dividend. The ex-dividend date of this dividend is 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 (DPR) is currently 21.55%.

Analyst Ratings Changes

ROST has been the subject of several recent analyst reports. Wall Street Zen cut Ross Stores from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 20th. Wells Fargo & Company upped their price target on Ross Stores from $245.00 to $248.00 and gave the company an “equal weight” rating in a research report on Friday, August 21st. Telsey Advisory Group increased their price objective on Ross Stores from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Sanford C. Bernstein raised their price objective on Ross Stores from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, August 21st. Finally, Citigroup increased their price target on shares of Ross Stores from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $263.76.

About Ross Stores

Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.