TrinityPoint Wealth LLC Buys 101 Shares of Ross Stores, Inc. (NASDAQ:ROST)

TrinityPoint Wealth LLC grew its stake in Ross Stores, Inc. (NASDAQ:ROST) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,619 shares of the apparel retailer’s stock after acquiring an additional 101 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Ross Stores were worth $277,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its holdings in Ross Stores by 524.7% in the second quarter. Bessemer Group Inc. now owns 1,272,506 shares of the apparel retailer’s stock valued at $126,132,000 after acquiring an additional 1,068,815 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of Ross Stores in the first quarter worth about $49,087,000. Geode Capital Management LLC lifted its holdings in shares of Ross Stores by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 6,088,490 shares of the apparel retailer’s stock worth $505,856,000 after acquiring an additional 456,445 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Ross Stores by 21.0% in the first quarter. California Public Employees Retirement System now owns 2,410,916 shares of the apparel retailer’s stock worth $224,456,000 after acquiring an additional 418,404 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Ross Stores by 83.6% in the second quarter. First Trust Advisors LP now owns 842,895 shares of the apparel retailer’s stock worth $83,548,000 after acquiring an additional 383,891 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently commented on ROST. Deutsche Bank increased their target price on shares of Ross Stores from $107.00 to $113.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Co reissued an “outperform” rating and issued a $116.00 target price (up previously from $104.00) on shares of Ross Stores in a report on Friday. MKM Partners increased their target price on shares of Ross Stores from $102.00 to $114.00 and gave the stock a “buy” rating in a report on Friday. Goldman Sachs Group cut shares of Ross Stores from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $102.00 to $91.00 in a report on Thursday, June 27th. Finally, Telsey Advisory Group cut shares of Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 target price for the company. in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $103.57.

In related news, Chairman Michael Balmuth sold 81,049 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $92.87, for a total value of $7,527,020.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Barbara Rentler sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $99.16, for a total value of $3,966,400.00. Following the completion of the sale, the chief executive officer now owns 473,922 shares of the company’s stock, valued at approximately $46,994,105.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 296,287 shares of company stock valued at $29,806,735. Corporate insiders own 2.30% of the company’s stock.

Shares of Ross Stores stock traded down $3.84 on Friday, hitting $103.56. The stock had a trading volume of 1,262,164 shares, compared to its average volume of 1,714,167. The stock has a 50 day moving average of $104.62 and a 200 day moving average of $97.97. Ross Stores, Inc. has a twelve month low of $75.91 and a twelve month high of $108.20. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.64 and a current ratio of 1.34. The firm has a market capitalization of $38.00 billion, a P/E ratio of 24.31, a PEG ratio of 2.22 and a beta of 0.89.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.02. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.96 billion. Ross Stores had a return on equity of 48.92% and a net margin of 10.47%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 earnings per share. Equities analysts expect that Ross Stores, Inc. will post 4.51 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 12th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.98%. Ross Stores’s dividend payout ratio (DPR) is presently 23.94%.

Ross Stores 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 brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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