Glenview Trust Co Acquires 5,786 Shares of Ross Stores, Inc. $ROST

Glenview Trust Co raised its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 6.9% in the third quarter, Holdings Channel reports. The institutional investor owned 89,103 shares of the apparel retailer’s stock after acquiring an additional 5,786 shares during the period. Glenview Trust Co’s holdings in Ross Stores were worth $20,797,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Virtus Advisers LLC bought a new position in Ross Stores in the second quarter worth approximately $38,000. Twin Lakes Capital Management LLC bought a new stake in shares of Ross Stores during the 2nd quarter valued at $41,000. Bell Investment Advisors Inc bought a new stake in shares of Ross Stores during the 2nd quarter valued at $43,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Ross Stores during the 2nd quarter valued at $44,000. Finally, Elevation Wealth Partners LLC increased its stake in shares of Ross Stores by 402.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 211 shares of the apparel retailer’s stock worth $45,000 after purchasing an additional 169 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ross Stores

In related news, CEO James Conroy sold 49,205 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer owned 134,349 shares in the company, valued at approximately $30,830,408.52. This represents a 26.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Brinkley sold 6,424 shares of the firm’s stock in a transaction on 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 transaction, the insider directly owned 51,665 shares of the company’s stock, valued at $11,865,383.90. The trade was a 11.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is currently owned by insiders.

Ross Stores Stock Down 1.7%

Shares of ROST opened at $228.28 on Friday. The business’s 50 day moving average is $231.17 and its 200 day moving average is $222.06. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. Ross Stores, Inc. has a 12-month low of $157.39 and a 12-month high of $257.00. The company has a market capitalization of $72.92 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share 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 during the quarter, compared to the consensus estimate of $6.16 billion. During the same period in the prior year, the company posted $1.56 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Research analysts expect that Ross Stores, Inc. will post 8.15 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th were issued a $0.4450 dividend. 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 21.55%.

Analyst Upgrades and Downgrades

ROST has been the topic of a number of recent research reports. Bank of America decreased their target price on Ross Stores from $265.00 to $258.00 and set a “buy” rating on the stock in a report on Tuesday. Robert W. Baird lifted their target price on Ross Stores from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, August 21st. Zacks Research raised Ross Stores from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Barclays upped their price target on Ross Stores from $260.00 to $298.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Finally, Morgan Stanley raised their price objective on Ross Stores from $231.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $272.06.

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.