Ross Stores, Inc. $ROST Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 27.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 12,081 shares of the apparel retailer’s stock after purchasing an additional 2,570 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Ross Stores were worth $2,820,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ROST. BlackRock Inc. bought a new stake in shares of Ross Stores in the 2nd quarter valued at $5,938,711,000. Bank of America Corp DE acquired a new position in shares of Ross Stores during the 2nd quarter valued at $2,024,203,000. Primecap Management Co. CA acquired a new position in shares of Ross Stores during the 2nd quarter valued at $1,937,995,000. Wellington Management Group LLP boosted its stake in Ross Stores by 89.2% during the second quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer’s stock worth $1,408,148,000 after acquiring an additional 3,118,591 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Ross Stores in the second quarter worth $476,200,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Stock Performance

Shares of ROST stock opened at $235.23 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $230.87 and a two-hundred day simple moving average of $222.92. Ross Stores, Inc. has a 12 month low of $157.73 and a 12 month high of $257.00. The firm has a market capitalization of $75.14 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 2.19 and a beta of 0.85.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.71. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.16 billion. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $1.56 earnings per share. Analysts forecast that Ross Stores, Inc. will post 8.15 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th were given a dividend of $0.4450 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. Ross Stores’s payout ratio is presently 21.55%.

Insider Buying and Selling at Ross Stores

In other news, insider Stephen Brinkley sold 6,424 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $229.66, for a total value of $1,475,335.84. Following the completion of the sale, the insider owned 51,665 shares in the company, valued at $11,865,383.90. This represents a 11.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James Conroy sold 49,205 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 134,349 shares of the company’s stock, valued at approximately $30,830,408.52. This represents a 26.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ROST. Morgan Stanley upped their price objective on shares of Ross Stores from $231.00 to $234.00 and gave the company an “equal weight” rating in a report on Friday, August 21st. Truist Financial boosted their target price on Ross Stores from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 21st. Wolfe Research assumed coverage on Ross Stores in a research note on Wednesday, October 21st. They set an “outperform” rating and a $279.00 price target on the stock. Robert W. Baird increased their price target on Ross Stores from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, August 21st. Finally, Barclays increased their price target on Ross Stores from $260.00 to $298.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $272.06.

About Ross Stores

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.