Ross Stores, Inc. $ROST Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,420,951 shares of the apparel retailer’s stock after selling 7,496 shares during the period. Envestnet Asset Management Inc. owned approximately 0.43% of Ross Stores worth $181,285,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ROST. GAMMA Investing LLC boosted its stake in shares of Ross Stores by 29.4% during the first quarter. GAMMA Investing LLC now owns 6,308 shares of the apparel retailer’s stock worth $806,000 after buying an additional 1,433 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Ross Stores by 8.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 3,092 shares of the apparel retailer’s stock worth $395,000 after acquiring an additional 245 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Ross Stores by 231.9% in the 1st quarter. Golden State Wealth Management LLC now owns 478 shares of the apparel retailer’s stock worth $61,000 after acquiring an additional 334 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Ross Stores by 9.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 9,328 shares of the apparel retailer’s stock worth $1,192,000 after acquiring an additional 825 shares during the period. Finally, Diversified Trust Co lifted its stake in shares of Ross Stores by 6.5% in the 1st quarter. Diversified Trust Co now owns 1,760 shares of the apparel retailer’s stock worth $225,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Stock Performance

Shares of ROST opened at $160.73 on Tuesday. The company has a 50-day simple moving average of $150.91 and a 200-day simple moving average of $143.00. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $52.27 billion, a PE ratio of 25.51, a P/E/G ratio of 3.01 and a beta of 1.18. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $161.95.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.02. The business had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.54 billion. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.59 EPS. Equities research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, September 9th. Ross Stores’s dividend payout ratio (DPR) is 25.71%.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, insider Stephen C. Brinkley sold 6,437 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $150.97, for a total transaction of $971,793.89. Following the completion of the transaction, the insider directly owned 57,012 shares in the company, valued at approximately $8,607,101.64. This trade represents a 10.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Karen Fleming sold 2,932 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $149.09, for a total transaction of $437,131.88. Following the transaction, the chief marketing officer owned 88,335 shares of the company’s stock, valued at $13,169,865.15. This trade represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,720 shares of company stock valued at $7,761,212. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Cowen restated a “buy” rating on shares of Ross Stores in a research note on Friday, August 22nd. JPMorgan Chase & Co. raised their target price on shares of Ross Stores from $156.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. UBS Group raised their target price on shares of Ross Stores from $144.00 to $147.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Jefferies Financial Group upgraded shares of Ross Stores from a “hold” rating to a “buy” rating and raised their target price for the stock from $135.00 to $150.00 in a research note on Wednesday, July 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Ross Stores in a research note on Tuesday, October 14th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.67.

About Ross Stores

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.