278,362 Shares in Ross Stores, Inc. $ROST Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 278,362 shares of the apparel retailer’s stock, valued at approximately $64,970,000.

Other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC lifted its position in Ross Stores by 3.6% during the 3rd quarter. ProShare Advisors LLC now owns 374,200 shares of the apparel retailer’s stock worth $87,338,000 after acquiring an additional 12,913 shares during the last quarter. Vise Technologies Inc. increased its stake in shares of Ross Stores by 30.6% in the third quarter. Vise Technologies Inc. now owns 21,934 shares of the apparel retailer’s stock worth $5,119,000 after purchasing an additional 5,143 shares during the period. Avestar Capital LLC increased its stake in shares of Ross Stores by 66.0% in the third quarter. Avestar Capital LLC now owns 3,787 shares of the apparel retailer’s stock worth $884,000 after purchasing an additional 1,506 shares during the period. Raleigh Capital Management Inc. lifted its position in shares of Ross Stores by 13.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,356 shares of the apparel retailer’s stock worth $316,000 after purchasing an additional 163 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Ross Stores by 1,483.0% during the 3rd quarter. International Assets Investment Management LLC now owns 35,000 shares of the apparel retailer’s stock worth $8,169,000 after purchasing an additional 32,789 shares during the last quarter. Institutional investors own 86.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ROST. JPMorgan Chase & Co. increased their target price on Ross Stores from $262.00 to $272.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Barclays lifted their price target on Ross Stores from $260.00 to $298.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Bank of America cut their price target on Ross Stores from $265.00 to $258.00 and set a “buy” rating for the company in a report on Tuesday, October 27th. Telsey Advisory Group increased their price objective on Ross Stores from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Finally, Morgan Stanley raised their price objective on shares of Ross Stores from $231.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $272.06.

Insider Buying and Selling

In related news, insider Stephen C. Brinkley sold 6,424 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was 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 directly owned 51,665 shares of the company’s stock, valued at $11,865,383.90. This trade represents a 11.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Conroy sold 49,205 shares of Ross Stores stock in a transaction 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 sale, the chief executive officer owned 134,349 shares in the company, valued at $30,830,408.52. This represents a 26.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.10% of the company’s stock.

Ross Stores Price Performance

Shares of ROST opened at $228.28 on Monday. The company has a 50-day simple moving average of $231.17 and a 200-day simple moving average of $222.06. The firm has a market capitalization of $72.92 billion, a P/E ratio of 27.64, a P/E/G ratio of 2.04 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.61. Ross Stores, Inc. has a 52 week low of $157.39 and a 52 week high of $257.00.

Ross Stores (NASDAQ:ROST) last released its 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. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same period last year, the business earned $1.56 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities research analysts expect that Ross Stores, Inc. will post 8.15 earnings per share for the current year.

Ross Stores Announces Dividend

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

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.