Net Worth Advisory Group Takes $297,000 Position in Ross Stores, Inc. (NASDAQ:ROST)

Net Worth Advisory Group acquired a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) in the third quarter, HoldingsChannel reports. The firm acquired 1,973 shares of the apparel retailer’s stock, valued at approximately $297,000.

Other institutional investors have also recently added to or reduced their stakes in the company. PGGM Investments grew its holdings in shares of Ross Stores by 724.1% during the second quarter. PGGM Investments now owns 24,848 shares of the apparel retailer’s stock worth $3,611,000 after buying an additional 21,833 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Ross Stores by 140.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 464,062 shares of the apparel retailer’s stock worth $68,106,000 after acquiring an additional 270,844 shares during the period. Norden Group LLC purchased a new stake in Ross Stores in the 1st quarter worth approximately $5,667,000. Diversified Trust Co raised its holdings in Ross Stores by 47.5% in the 2nd quarter. Diversified Trust Co now owns 13,124 shares of the apparel retailer’s stock valued at $1,907,000 after acquiring an additional 4,228 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of Ross Stores by 8.1% during the 1st quarter. TD Asset Management Inc now owns 547,710 shares of the apparel retailer’s stock worth $80,382,000 after purchasing an additional 41,204 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.

Insider Transactions at Ross Stores

In related news, CEO Barbara Rentler sold 48,885 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total value of $7,524,868.05. Following the completion of the transaction, the chief executive officer now owns 311,853 shares of the company’s stock, valued at approximately $48,003,532.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the sale, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at $48,003,532.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,138 shares of company stock valued at $11,093,051. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ROST has been the subject of several analyst reports. UBS Group upped their target price on Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Robert W. Baird upped their price objective on shares of Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Telsey Advisory Group raised their target price on shares of Ross Stores from $160.00 to $175.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Bank of America boosted their target price on shares of Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Barclays increased their price target on shares of Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.71.

Ross Stores Stock Performance

Shares of NASDAQ:ROST opened at $149.90 on Monday. The business’s 50-day simple moving average is $149.21 and its 200 day simple moving average is $143.28. The company has a market cap of $50.00 billion, a P/E ratio of 25.28, a PEG ratio of 2.33 and a beta of 1.09. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. Ross Stores, Inc. has a one year low of $112.39 and a one year high of $163.60.

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

Ross Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were paid a dividend of $0.3675 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.47 annualized dividend and a dividend yield of 0.98%. Ross Stores’s dividend payout ratio is presently 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.