Ross Stores, Inc. $ROST Stock: Axecap Investments LLC Reduces Holdings

Axecap Investments LLC trimmed its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 63.5% in the third quarter, Holdings Channel reports. The institutional investor owned 4,901 shares of the apparel retailer’s stock after selling 8,516 shares during the period. Axecap Investments LLC’s holdings in Ross Stores were worth $1,144,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ROST. Net Worth Advisory Group grew its position in Ross Stores by 4.2% during 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 in the last quarter. Greenleaf Trust increased its stake in Ross Stores by 0.9% during the 2nd quarter. Greenleaf Trust now owns 6,026 shares of the apparel retailer’s stock worth $1,283,000 after acquiring an additional 51 shares during the period. Cooper Financial Group increased its stake in Ross Stores by 2.8% during the 2nd quarter. Cooper Financial Group now owns 1,919 shares of the apparel retailer’s stock worth $409,000 after acquiring an additional 52 shares during the period. RFG Advisory LLC raised its holdings in Ross Stores by 3.8% in the 2nd 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 in the last quarter. Finally, Eastern Bank raised its holdings in Ross Stores by 0.5% in the 3rd quarter. Eastern Bank now owns 10,557 shares of the apparel retailer’s stock valued at $2,464,000 after acquiring an additional 57 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO James Conroy sold 49,205 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $229.48, for a total value of $11,291,563.40. Following the sale, the chief executive officer directly owned 134,349 shares of the company’s stock, valued at $30,830,408.52. This trade represents a 26.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephen Brinkley sold 6,424 shares of Ross Stores stock in a transaction dated 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 transaction, the insider owned 51,665 shares in the company, valued at approximately $11,865,383.90. This represents a 11.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.10% of the company’s stock.

Ross Stores Stock Down 0.6%

NASDAQ ROST opened at $237.24 on Wednesday. The business has a fifty day moving average price of $232.20 and a two-hundred day moving average price of $229.83. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.98. Ross Stores, Inc. has a fifty-two week low of $154.87 and a fifty-two week high of $257.00. The stock has a market capitalization of $75.79 billion, a PE ratio of 28.72, a PEG ratio of 2.00 and a beta of 0.83.

Ross Stores (NASDAQ:ROST) last issued its earnings results 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. 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 last year, the business posted $1.56 EPS. The company’s revenue was up 13.3% compared to the same quarter last year. Equities analysts expect that Ross Stores, Inc. will post 8.15 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently disclosed 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. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, September 8th. Ross Stores’s dividend payout ratio is currently 21.55%.

Analyst Ratings Changes

Several analysts have recently issued reports on ROST shares. Truist Financial increased their target price on Ross Stores from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 21st. Morgan Stanley boosted their price target on Ross Stores from $231.00 to $234.00 and gave the company an “equal weight” rating in a research note on Friday, August 21st. Barclays upped their price objective on shares of Ross Stores from $260.00 to $298.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Zacks Research upgraded shares of Ross Stores from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $294.00 price objective on shares of Ross Stores in a research note on Friday, August 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $263.76.

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.