Ross Stores, Inc. $ROST Stake Boosted by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC raised its stake in Ross Stores, Inc. (NASDAQ:ROST) by 12.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,984 shares of the apparel retailer’s stock after buying an additional 668 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Ross Stores were worth $763,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. ICW Investment Advisors LLC lifted its position in Ross Stores by 0.4% in the 1st quarter. ICW Investment Advisors LLC now owns 18,458 shares of the apparel retailer’s stock valued at $2,359,000 after purchasing an additional 67 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in shares of Ross Stores by 3.8% during the first quarter. CreativeOne Wealth LLC now owns 1,932 shares of the apparel retailer’s stock valued at $247,000 after buying an additional 70 shares during the last quarter. Golden State Wealth Management LLC boosted its position in shares of Ross Stores by 50.7% during the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer’s stock worth $28,000 after buying an additional 73 shares during the period. First Horizon Advisors Inc. grew its holdings in Ross Stores by 6.1% in the 1st quarter. First Horizon Advisors Inc. now owns 1,280 shares of the apparel retailer’s stock worth $164,000 after buying an additional 74 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its position in Ross Stores by 36.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer’s stock valued at $36,000 after acquiring an additional 75 shares during the period. Institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Performance

NASDAQ:ROST opened at $156.75 on Monday. The company has a 50-day moving average of $150.62 and a 200-day moving average of $142.83. The firm has a market cap of $50.98 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 3.01 and a beta of 1.18. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $158.69.

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

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.0%. Ross Stores’s payout ratio is 25.71%.

Insider Buying and Selling

In other Ross Stores news, CMO Karen Fleming sold 2,932 shares of the company’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 completion of the sale, the chief marketing officer directly owned 88,335 shares of the company’s stock, valued at approximately $13,169,865.15. This represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen C. Brinkley sold 6,437 shares of Ross Stores stock in a transaction that occurred on Wednesday, October 8th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,720 shares of company stock valued at $7,761,212. 2.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ROST shares. JPMorgan Chase & Co. boosted their price target on Ross Stores from $156.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 22nd. BTIG Research started coverage on shares of Ross Stores in a report on Tuesday, October 14th. They issued a “neutral” rating for the company. Morgan Stanley raised their target price on shares of Ross Stores from $128.00 to $130.00 and gave the company an “equal weight” rating in a research note on Friday, August 22nd. UBS Group boosted their price target on shares of Ross Stores from $144.00 to $147.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Finally, Cowen reiterated a “buy” rating on shares of Ross Stores in a report on Friday, August 22nd. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.33.

Ross Stores Company 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.