Ross Stores, Inc. $ROST Stock: Kestra Advisory Services LLC Raises Position

Kestra Advisory Services LLC raised its position in Ross Stores, Inc. (NASDAQ:ROST) by 113.1% during the third quarter, HoldingsChannel reports. The firm owned 21,944 shares of the apparel retailer’s stock after buying 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.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in Ross Stores by 89.2% during 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 buying an additional 3,118,591 shares during the last quarter. United Capital Financial Advisors LLC purchased a new position in shares of Ross Stores in the 2nd quarter valued at about $3,390,000. NewEdge Advisors LLC raised 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 worth $3,694,000 after acquiring an additional 5,012 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Ross Stores during the 2nd quarter worth about $34,867,000. Finally, Nicholas Investment Partners LP purchased a new stake in 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 Activity

In other Ross Stores news, CEO James Conroy sold 49,205 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $229.48, for a total transaction of $11,291,563.40. Following the completion of the sale, the chief executive officer directly owned 134,349 shares of the company’s stock, valued at $30,830,408.52. This represents a 26.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen C. Brinkley sold 6,424 shares of Ross Stores stock in a transaction that occurred on 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 $11,865,383.90. This trade represents a 11.06% 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 currently owned by corporate insiders.

Ross Stores Stock Performance

Shares of ROST opened at $237.24 on Friday. The company’s 50 day simple moving average is $231.64 and its 200-day simple moving average is $224.12. The firm has a market cap of $75.79 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 2.15 and a beta of 0.85. Ross Stores, Inc. has a 12-month low of $157.73 and a 12-month high of $257.00. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.16 billion. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. Ross Stores’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.56 EPS. As a group, equities analysts predict that Ross Stores, Inc. will post 8.15 EPS for the current year.

Ross Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th were paid a dividend of $0.4450 per share. The ex-dividend date was Tuesday, September 8th. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. Ross Stores’s dividend payout ratio is 21.55%.

Analyst Upgrades and Downgrades

ROST has been the subject of a number of research analyst reports. 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. Robert W. Baird raised their price objective on shares of Ross Stores from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, August 21st. Bank of America reduced their price objective on shares of Ross Stores from $265.00 to $258.00 and set a “buy” rating for the company in a research report on Tuesday, October 27th. Citigroup upped their target price on shares of Ross Stores from $270.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 21st. Finally, Barclays increased their target price on shares of Ross Stores from $260.00 to $298.00 and gave the company an “overweight” rating in a research report 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $277.72.

About Ross Stores

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.