Ross Stores, Inc. (NASDAQ:ROST) Shares Acquired by Quest Partners LLC

Quest Partners LLC lifted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 611.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,116 shares of the apparel retailer’s stock after buying an additional 18,147 shares during the period. Quest Partners LLC’s holdings in Ross Stores were worth $3,178,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. acquired a new stake in Ross Stores during the 2nd quarter worth about $27,000. SJS Investment Consulting Inc. increased its holdings in Ross Stores by 262.1% in the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after buying an additional 152 shares during the period. Industrial Alliance Investment Management Inc. purchased a new position in Ross Stores during the 2nd quarter worth approximately $32,000. Armstrong Advisory Group Inc. acquired a new stake in Ross Stores during the 3rd quarter valued at approximately $33,000. Finally, Crewe Advisors LLC boosted its holdings in shares of Ross Stores by 97.8% in the 2nd quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock valued at $40,000 after acquiring an additional 136 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at $48,003,532.29. This trade represents a 13.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael J. Hartshorn sold 8,366 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $155.64, for a total value of $1,302,084.24. Following the transaction, the chief operating officer now directly owns 103,049 shares in the company, valued at $16,038,546.36. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,138 shares of company stock worth $11,093,051. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ROST. TD Cowen raised their target price on shares of Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Citigroup lowered Ross Stores from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $179.00 to $152.00 in a research note on Tuesday, November 12th. Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. Robert W. Baird lifted their price target on Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, Bank of America boosted their price target on Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $170.00.

Ross Stores Stock Down 1.2 %

Shares of NASDAQ ROST opened at $140.69 on Monday. Ross Stores, Inc. has a 52-week low of $119.73 and a 52-week high of $163.60. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The company’s 50-day simple moving average is $146.18 and its 200-day simple moving average is $144.32. The firm has a market cap of $46.68 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 2.31 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the previous year, the firm posted $1.32 EPS. Ross Stores’s revenue was up 7.1% compared to the same quarter last year. Equities analysts predict that Ross Stores, Inc. will post 6.11 EPS for the current fiscal year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were paid a $0.3675 dividend. This represents a $1.47 annualized dividend and a yield of 1.04%. The ex-dividend date was Tuesday, September 10th. Ross Stores’s dividend payout ratio is currently 23.71%.

Ross Stores Profile

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.