Insight Wealth Strategies LLC boosted its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 31.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,418 shares of the apparel retailer’s stock after purchasing an additional 3,445 shares during the period. Insight Wealth Strategies LLC’s holdings in Ross Stores were worth $1,429,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ROST. Litman Gregory Asset Management LLC acquired a new stake in Ross Stores during the 2nd quarter valued at $32,000. Berman Capital Advisors LLC grew its holdings in Ross Stores by 32.2% during the 1st quarter. Berman Capital Advisors LLC now owns 522 shares of the apparel retailer’s stock valued at $48,000 after purchasing an additional 127 shares in the last quarter. Thor Advisors LLC bought a new position in Ross Stores during the 1st quarter valued at $54,000. Cornerstone Advisors Inc. boosted its stake in Ross Stores by 26.0% during the 1st quarter. Cornerstone Advisors Inc. now owns 820 shares of the apparel retailer’s stock valued at $76,000 after acquiring an additional 169 shares during the last quarter. Finally, Zions Bancorporation N.A. bought a new position in Ross Stores during the 1st quarter valued at $76,000. 88.16% of the stock is owned by institutional investors and hedge funds.
Shares of Ross Stores stock traded down $3.73 during trading hours on Friday, reaching $103.67. The company’s stock had a trading volume of 218,028 shares, compared to its average volume of 1,714,167. The company’s 50 day simple moving average is $104.62 and its 200 day simple moving average is $97.97. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.64 and a current ratio of 1.34. Ross Stores, Inc. has a one year low of $75.91 and a one year high of $108.20. The stock has a market cap of $38.00 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 2.22 and a beta of 0.89.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be given a $0.255 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.98%. Ross Stores’s payout ratio is currently 23.94%.
In related news, insider James S. Fassio sold 85,238 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $104.85, for a total value of $8,937,204.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Michael Balmuth sold 81,049 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $92.87, for a total transaction of $7,527,020.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 296,287 shares of company stock worth $29,806,735. Insiders own 2.30% of the company’s stock.
A number of research firms have commented on ROST. MKM Partners increased their price objective on shares of Ross Stores from $102.00 to $114.00 and gave the company a “buy” rating in a research note on Friday. Loop Capital upgraded shares of Ross Stores to a “buy” rating and set a $120.00 price objective on the stock in a research note on Friday, August 16th. Telsey Advisory Group downgraded shares of Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 price objective on the stock. in a research note on Monday, June 24th. Zacks Investment Research upgraded shares of Ross Stores from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Finally, BidaskClub upgraded shares of Ross Stores from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Ross Stores has an average rating of “Buy” and an average price target of $103.57.
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 brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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