Rakuten Investment Management Inc. Buys 7,717 Shares of Ross Stores, Inc. $ROST

Rakuten Investment Management Inc. boosted its position in Ross Stores, Inc. (NASDAQ:ROST) by 10.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,882 shares of the apparel retailer’s stock after buying an additional 7,717 shares during the period. Rakuten Investment Management Inc.’s holdings in Ross Stores were worth $19,896,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Ross Stores by 89.2% in the 2nd quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer’s stock worth $1,408,148,000 after purchasing an additional 3,118,591 shares in the last quarter. United Capital Financial Advisors LLC purchased a new stake in shares of Ross Stores in the second quarter valued at approximately $3,390,000. NewEdge Advisors LLC lifted its position in shares of Ross Stores by 40.6% during the 2nd quarter. NewEdge Advisors LLC now owns 17,353 shares of the apparel retailer’s stock valued at $3,694,000 after buying an additional 5,012 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in shares of Ross Stores during the 2nd quarter worth about $34,867,000. Finally, Nicholas Investment Partners LP purchased a new stake in shares of Ross Stores during the second quarter worth approximately $2,559,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ross Stores news, insider Stephen C. Brinkley sold 6,424 shares of the company’s stock in a transaction that occurred on 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 sale, the insider owned 51,665 shares in the company, valued at $11,865,383.90. This represents a 11.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 sale, the chief executive officer owned 134,349 shares in the company, valued at $30,830,408.52. The trade was a 26.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group upgraded shares of Ross Stores from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $239.00 to $315.00 in a research report on Monday, October 26th. Barclays increased their price target on shares of Ross Stores from $260.00 to $298.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Bank of America decreased their target price on shares of Ross Stores from $265.00 to $258.00 and set a “buy” rating on the stock in a research report on Tuesday, October 27th. Morgan Stanley increased their price target on shares of Ross Stores from $231.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Friday, August 21st. Finally, Evercore set a $290.00 price target on Ross Stores in a research report on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.06.

Ross Stores Trading Up 6.1%

NASDAQ ROST opened at $245.74 on Thursday. 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 firm has a 50-day moving average price of $230.89 and a 200 day moving average price of $222.71. The stock has a market capitalization of $78.50 billion, a P/E ratio of 29.75, a P/E/G ratio of 2.07 and a beta of 0.85. Ross Stores, Inc. has a 52-week low of $157.73 and a 52-week high of $257.00.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.71. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the prior year, the company earned $1.56 earnings per share. Ross Stores’s revenue was up 13.3% compared to the same quarter last year. Equities research analysts expect that Ross Stores, Inc. will post 8.15 EPS for the current year.

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th were paid a dividend of $0.4450 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 8th. Ross Stores’s payout ratio is currently 21.55%.

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.