SkyView Investment Advisors LLC Has $2.49 Million Position in Ross Stores, Inc. (NASDAQ:ROST)

SkyView Investment Advisors LLC increased its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 17.6% during the second quarter, Holdings Channel reports. The institutional investor owned 17,123 shares of the apparel retailer’s stock after purchasing an additional 2,558 shares during the quarter. SkyView Investment Advisors LLC’s holdings in Ross Stores were worth $2,488,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Raleigh Capital Management Inc. raised its holdings in Ross Stores by 41.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. Quotient Wealth Partners LLC lifted its position in Ross Stores by 4.0% in the second quarter. Quotient Wealth Partners LLC now owns 2,197 shares of the apparel retailer’s stock worth $319,000 after purchasing an additional 85 shares during the period. Checchi Capital Advisers LLC boosted its stake in Ross Stores by 2.4% during the second quarter. Checchi Capital Advisers LLC now owns 3,673 shares of the apparel retailer’s stock worth $534,000 after buying an additional 86 shares in the last quarter. Kintegral Advisory LLC boosted its stake in Ross Stores by 3.0% during the second quarter. Kintegral Advisory LLC now owns 2,943 shares of the apparel retailer’s stock worth $428,000 after buying an additional 87 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Ross Stores by 1.5% in the 2nd quarter. Parallel Advisors LLC now owns 5,929 shares of the apparel retailer’s stock valued at $862,000 after buying an additional 87 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the sale, the chief operating officer now directly owns 103,049 shares in the company, valued at $16,038,546.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total value of $2,266,099.14. Following the sale, the chairman now owns 11,133 shares in the company, valued at approximately $1,694,665.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $155.64, for a total value of $1,302,084.24. Following the transaction, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. The disclosure for this sale can be found here. Insiders sold 72,138 shares of company stock worth $11,093,051 over the last quarter. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ROST has been the topic of several recent research reports. Robert W. Baird lifted their target price on shares of Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Bank of America increased their price objective on Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Wells Fargo & Company boosted their target price on shares of Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. Finally, Morgan Stanley lifted their price target on shares of Ross Stores from $163.00 to $178.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.71.

Ross Stores Price Performance

Shares of ROST stock opened at $151.56 on Friday. The firm has a market capitalization of $50.28 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09. Ross Stores, Inc. has a 12-month low of $109.19 and a 12-month high of $163.60. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $147.77 and a 200-day moving average of $143.29.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.25 billion. During the same period in the prior year, the company earned $1.32 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Ross Stores, Inc. will post 6.2 earnings per share for the current year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be paid a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Tuesday, September 10th. Ross Stores’s payout ratio is currently 24.79%.

About Ross Stores

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.