Ross Stores, Inc. $ROST Shares Newly Purchased by Collaborative Fund Advisors LLC

Collaborative Fund Advisors LLC purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,106 shares of the apparel retailer’s stock, valued at approximately $725,000.

Other large investors have also recently added to or reduced their stakes in the company. Net Worth Advisory Group raised its stake in shares of Ross Stores by 4.2% in the third quarter. Net Worth Advisory Group now owns 1,047 shares of the apparel retailer’s stock valued at $245,000 after acquiring an additional 42 shares in the last quarter. Greenleaf Trust grew its stake in Ross Stores by 0.9% during the 2nd quarter. Greenleaf Trust now owns 6,026 shares of the apparel retailer’s stock worth $1,283,000 after purchasing an additional 51 shares in the last quarter. Cooper Financial Group grew its stake in Ross Stores by 2.8% during the 2nd quarter. Cooper Financial Group now owns 1,919 shares of the apparel retailer’s stock worth $409,000 after purchasing an additional 52 shares in the last quarter. RFG Advisory LLC increased its holdings in Ross Stores by 3.8% during the 2nd quarter. RFG Advisory LLC now owns 1,430 shares of the apparel retailer’s stock worth $304,000 after purchasing an additional 52 shares during the period. Finally, Eastern Bank increased its holdings in Ross Stores by 0.5% during the 3rd quarter. Eastern Bank now owns 10,557 shares of the apparel retailer’s stock worth $2,464,000 after purchasing an additional 57 shares during the period. 86.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ROST has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Ross Stores from $262.00 to $272.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Bank of America lowered their target price on shares of Ross Stores from $265.00 to $258.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Barclays increased their target price on Ross Stores from $260.00 to $298.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Telsey Advisory Group raised their price target on Ross Stores from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Finally, Evercore set a $290.00 price target on Ross Stores in a report on Friday, August 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.06.

Ross Stores Stock Up 6.1%

ROST stock opened at $245.74 on Thursday. 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, Inc. has a twelve month low of $157.73 and a twelve month high of $257.00. The company’s 50 day moving average is $230.89 and its two-hundred day moving average is $222.71. The stock has a market cap of $78.50 billion, a P/E ratio of 30.24, a PEG ratio of 2.07 and a beta of 0.85.

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

Ross Stores Dividend Announcement

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 $0.4450 dividend. This represents a $1.78 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, September 8th. Ross Stores’s dividend payout ratio is currently 21.55%.

Insider Activity

In other news, insider Stephen C. Brinkley sold 6,424 shares of Ross Stores stock in a transaction dated 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 approximately $11,865,383.90. The trade was a 11.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Conroy sold 49,205 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $229.48, for a total value 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. The trade was a 26.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.10% of the company’s stock.

Ross Stores 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.