Callan Family Office LLC Grows Position in Ross Stores, Inc. $ROST

by · The Cerbat Gem

Callan Family Office LLC raised its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 53.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 54,984 shares of the apparel retailer’s stock after purchasing an additional 19,086 shares during the quarter. Callan Family Office LLC’s holdings in Ross Stores were worth $7,015,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Ross Stores by 17.0% during the first quarter. Vanguard Group Inc. now owns 34,121,706 shares of the apparel retailer’s stock worth $4,360,413,000 after buying an additional 4,946,101 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Ross Stores by 59.3% in the first quarter. EdgePoint Investment Group Inc. now owns 4,055,088 shares of the apparel retailer’s stock valued at $518,200,000 after purchasing an additional 1,509,815 shares during the period. Invesco Ltd. grew its holdings in shares of Ross Stores by 5.0% in the first quarter. Invesco Ltd. now owns 3,997,575 shares of the apparel retailer’s stock valued at $510,850,000 after purchasing an additional 192,148 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Ross Stores by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,912,392 shares of the apparel retailer’s stock valued at $372,134,000 after purchasing an additional 15,085 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Ross Stores by 2.3% in the first quarter. Principal Financial Group Inc. now owns 2,017,638 shares of the apparel retailer’s stock valued at $257,834,000 after purchasing an additional 45,674 shares during the period. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ROST. Jefferies Financial Group raised shares of Ross Stores from a “hold” rating to a “buy” rating and upped their price objective for the company from $135.00 to $150.00 in a report on Wednesday, July 2nd. Robert W. Baird upped their price objective on shares of Ross Stores from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, August 22nd. Barclays upped their price objective on shares of Ross Stores from $156.00 to $164.00 and gave the company an “overweight” rating in a report on Friday, August 22nd. Cowen reissued a “buy” rating on shares of Ross Stores in a report on Friday, August 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $160.67.

Get Our Latest Analysis on Ross Stores

Insider Transactions at Ross Stores

In other news, CEO James Grant Conroy sold 39,351 shares of the stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $146.00, for a total transaction of $5,745,246.00. Following the sale, the chief executive officer owned 157,153 shares of the company’s stock, valued at approximately $22,944,338. This represents a 20.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Karen Fleming sold 2,932 shares of the stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $149.09, for a total transaction of $437,131.88. Following the sale, the chief marketing officer directly owned 88,335 shares in the company, valued at $13,169,865.15. This represents a 3.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,283 shares of company stock valued at $6,789,418. 2.20% of the stock is currently owned by corporate insiders.

Ross Stores Trading Down 1.3%

NASDAQ ROST opened at $149.98 on Friday. The firm’s 50-day moving average is $148.36 and its two-hundred day moving average is $140.66. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $158.69. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98. The stock has a market capitalization of $48.78 billion, a P/E ratio of 23.81, a PEG ratio of 2.92 and a beta of 1.18.

Ross Stores (NASDAQ:ROST – Get Free Report) last posted its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.02. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The company had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the prior year, the company posted $1.59 earnings per share. Ross Stores’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 9th. Ross Stores’s dividend payout ratio is currently 25.71%.

Ross Stores Profile

(Free Report)

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.

Further Reading

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