International Assets Investment Management LLC Buys 32,789 Shares of Ross Stores, Inc. $ROST
by Kim Johansen · The Markets DailyInternational Assets Investment Management LLC increased its stake in shares of Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 1,483.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 35,000 shares of the apparel retailer’s stock after acquiring an additional 32,789 shares during the period. International Assets Investment Management LLC’s holdings in Ross Stores were worth $8,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Net Worth Advisory Group increased its position in Ross Stores by 4.2% in the third quarter. Net Worth Advisory Group now owns 1,047 shares of the apparel retailer’s stock worth $245,000 after buying an additional 42 shares during the period. Greenleaf Trust boosted its holdings in shares of Ross Stores by 0.9% during the second quarter. Greenleaf Trust now owns 6,026 shares of the apparel retailer’s stock valued at $1,283,000 after acquiring an additional 51 shares during the period. Cooper Financial Group boosted its holdings in shares of Ross Stores by 2.8% during the second quarter. Cooper Financial Group now owns 1,919 shares of the apparel retailer’s stock valued at $409,000 after acquiring an additional 52 shares during the period. RFG Advisory LLC boosted its holdings in shares of Ross Stores by 3.8% during the second quarter. RFG Advisory LLC now owns 1,430 shares of the apparel retailer’s stock valued at $304,000 after acquiring an additional 52 shares during the period. Finally, Eastern Bank grew its position in shares of Ross Stores by 0.5% during the third quarter. Eastern Bank now owns 10,557 shares of the apparel retailer’s stock worth $2,464,000 after acquiring an additional 57 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on ROST shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $294.00 price target on shares of Ross Stores in a research report on Friday, August 21st. UBS Group upgraded shares of Ross Stores from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $239.00 to $315.00 in a research report on Monday, October 26th. Wall Street Zen raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Sunday. Morgan Stanley boosted their target price on shares of Ross Stores from $231.00 to $234.00 and gave the company an “equal weight” rating in a research note on Friday, August 21st. Finally, Citigroup upped their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $272.06.
Read Our Latest Analysis on Ross Stores
Ross Stores Stock Down 1.7%
ROST opened at $228.28 on Friday. Ross Stores, Inc. has a 12 month low of $157.39 and a 12 month high of $257.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.98. The stock has a market cap of $72.92 billion, a P/E ratio of 27.64, a P/E/G ratio of 2.04 and a beta of 0.83. The stock’s 50 day moving average price is $231.17 and its 200 day moving average price is $222.06.
Ross Stores (NASDAQ:ROST – Get Free Report) last announced its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share for the quarter, beating 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 firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the previous year, the business earned $1.56 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, research analysts predict that Ross Stores, Inc. will post 8.15 earnings per share for the current year.
Ross Stores Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th were issued a dividend of $0.4450 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 8th. Ross Stores’s dividend payout ratio (DPR) is 21.55%.
Insiders Place Their Bets
In related news, CEO James Conroy sold 49,205 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen C. Brinkley sold 6,424 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is currently owned by company insiders.
Ross Stores Company 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.
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