Ross Stores, Inc. (NASDAQ:ROST) Holdings Increased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lifted its stake in Ross Stores, Inc. (NASDAQ:ROST) by 11.7% in the third quarter, HoldingsChannel reports. The fund owned 2,894 shares of the apparel retailer’s stock after purchasing an additional 302 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Ross Stores were worth $436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ROST. University of Texas Texas AM Investment Management Co. acquired a new stake in Ross Stores in the second quarter worth approximately $27,000. SJS Investment Consulting Inc. raised its stake in shares of Ross Stores by 262.1% in the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after buying an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Ross Stores in the second quarter valued at $32,000. Armstrong Advisory Group Inc. bought a new position in Ross Stores during the third quarter valued at about $33,000. Finally, Crewe Advisors LLC grew its holdings in Ross Stores by 97.8% during the second quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock worth $40,000 after acquiring an additional 136 shares during the period. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Stock Up 0.3 %

ROST stock opened at $154.89 on Friday. The company has a 50 day moving average of $145.31 and a two-hundred day moving average of $145.11. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. Ross Stores, Inc. has a 12-month low of $127.53 and a 12-month high of $163.60. The company has a market cap of $51.39 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.54 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.07. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same period last year, the company earned $1.33 earnings per share. Ross Stores’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Ross Stores, Inc. will post 6.15 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a $0.3675 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.47 dividend on an annualized basis and a yield of 0.95%. Ross Stores’s dividend payout ratio is currently 23.15%.

Insider Activity at Ross Stores

In other news, Chairman Michael Balmuth sold 14,887 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the transaction, the chairman now owns 11,133 shares in the company, valued at $1,694,665.26. This represents a 57.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the transaction, the chief operating officer now owns 103,049 shares in the company, valued at $16,038,546.36. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ROST. Evercore ISI raised their price objective on shares of Ross Stores from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Robert W. Baird lifted their price target on shares of Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Guggenheim reiterated a “buy” rating and set a $180.00 price objective on shares of Ross Stores in a research report on Friday, November 22nd. StockNews.com cut Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company reduced their target price on Ross Stores from $175.00 to $165.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.69.

Ross Stores Company Profile

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.