Ross Stores, Inc. $ROST Shares Acquired by Vest Financial LLC

Vest Financial LLC boosted its stake in Ross Stores, Inc. (NASDAQ:ROST) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 346,589 shares of the apparel retailer’s stock after purchasing an additional 9,685 shares during the quarter. Ross Stores makes up 0.8% of Vest Financial LLC’s portfolio, making the stock its 23rd biggest holding. Vest Financial LLC’s holdings in Ross Stores were worth $80,894,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Ross Stores by 89.2% during the 2nd quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer’s stock valued at $1,408,148,000 after acquiring an additional 3,118,591 shares during the last quarter. United Capital Financial Advisors LLC purchased a new position in Ross Stores during the second quarter valued at approximately $3,390,000. NewEdge Advisors LLC increased its stake in Ross Stores by 40.6% in the 2nd quarter. NewEdge Advisors LLC now owns 17,353 shares of the apparel retailer’s stock worth $3,694,000 after buying an additional 5,012 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Ross Stores during the second quarter worth about $34,867,000. Finally, Elevation Point Wealth Partners LLC raised its position in shares of Ross Stores by 459.5% during the first quarter. Elevation Point Wealth Partners LLC now owns 26,095 shares of the apparel retailer’s stock valued at $5,653,000 after buying an additional 21,431 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ROST has been the subject of a number of recent research reports. Wolfe Research initiated coverage on shares of Ross Stores in a report on Wednesday. They issued an “outperform” rating and a $279.00 target price for the company. Zacks Research raised shares of Ross Stores from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Barclays increased their price objective on shares of Ross Stores from $260.00 to $298.00 and gave the company an “overweight” rating in a research report on Friday, August 21st. Jefferies Financial Group increased their price objective 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. Finally, Citigroup lifted their price objective on shares of Ross Stores from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $264.61.

Ross Stores Trading Down 1.3%

ROST stock opened at $234.18 on Thursday. Ross Stores, Inc. has a 12 month low of $154.87 and a 12 month high of $257.00. The firm’s 50-day moving average is $231.92 and its 200 day moving average is $229.93. The company has a market capitalization of $74.81 billion, a PE ratio of 28.35, a P/E/G ratio of 1.99 and a beta of 0.83. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.98.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.71. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.16 billion. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.56 EPS. On average, research analysts anticipate that Ross Stores, Inc. will post 8.15 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th were paid a dividend of $0.4450 per share. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 8th. Ross Stores’s payout ratio is currently 21.55%.

Insider Activity at Ross Stores

In related news, insider Stephen C. Brinkley sold 6,424 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $229.66, for a total value of $1,475,335.84. Following the transaction, the insider owned 51,665 shares of the company’s stock, valued at $11,865,383.90. This represents a 11.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Conroy sold 49,205 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $229.48, for a total value 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 $30,830,408.52. This represents a 26.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.10% of the company’s stock.

Ross Stores 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.