Ross Stores, Inc. $ROST Position Increased by Kestra Advisory Services LLC

Kestra Advisory Services LLC increased its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 113.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,944 shares of the apparel retailer’s stock after acquiring an additional 11,648 shares during the quarter. Kestra Advisory Services LLC’s holdings in Ross Stores were worth $5,122,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Virtus Advisers LLC acquired a new stake in Ross Stores in the second quarter worth about $38,000. Twin Lakes Capital Management LLC purchased a new stake in shares of Ross Stores during the second quarter worth about $41,000. Bell Investment Advisors Inc acquired a new position in shares of Ross Stores during the second quarter valued at about $43,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Ross Stores during the second quarter valued at about $44,000. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Ross Stores by 402.4% during the second quarter. Elevation Wealth Partners LLC now owns 211 shares of the apparel retailer’s stock valued at $45,000 after acquiring an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Price Performance

Shares of Ross Stores stock opened at $237.24 on Friday. The firm has a market cap of $75.79 billion, a PE ratio of 28.72, a P/E/G ratio of 2.15 and a beta of 0.85. Ross Stores, Inc. has a twelve month low of $157.73 and a twelve month high of $257.00. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $231.64 and a 200 day moving average price of $224.12.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping the consensus estimate of $1.95 by $0.71. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the previous year, the firm earned $1.56 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. Sell-side analysts predict 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 paid a dividend of $0.4450 per share. This represents a $1.78 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 8th. Ross Stores’s dividend payout ratio is currently 21.55%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ROST. Bank of America lowered their target price on shares of Ross Stores from $265.00 to $258.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Telsey Advisory Group upped their price target on shares of Ross Stores from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Deutsche Bank reaffirmed a “buy” rating and issued a $294.00 price target on shares of Ross Stores in a report on Friday, August 21st. Evercore set a $290.00 price target on shares of Ross Stores in a report on Friday, August 21st. Finally, Truist Financial lifted their price objective on shares of Ross Stores from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $277.72.

Insider Transactions at Ross Stores

In related news, CEO James Conroy sold 49,205 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 134,349 shares of the company’s stock, valued at approximately $30,830,408.52. This trade represents a 26.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Brinkley sold 6,424 shares of Ross Stores 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 transaction, the insider directly owned 51,665 shares in the company, valued at $11,865,383.90. This trade represents a 11.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.10% of the stock is currently owned by corporate insiders.

Ross Stores Profile

Ross Stores, Inc. is an off-price retailer operating Ross Dress for Less and dd’s DISCOUNTS. Its stores offer name-brand and designer merchandise at discounted prices, with product selection and availability varying by location and season. Ross Dress for Less sells apparel, footwear, accessories, home fashions, furnishings, and other merchandise for the whole family. dd’s DISCOUNTS offers a similar off-price assortment, including clothing, shoes, home goods, and related products. The company traces its origins to a department store founded in San Bruno, California, in 1950.