Resonant Capital Advisors LLC Boosts Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Resonant Capital Advisors LLC increased its position in Ross Stores, Inc. (NASDAQ:ROST) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,362 shares of the apparel retailer’s stock after purchasing an additional 127 shares during the period. Resonant Capital Advisors LLC’s holdings in Ross Stores were worth $807,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ROST. Vanguard Group Inc. raised its stake in shares of Ross Stores by 1.2% in the first quarter. Vanguard Group Inc. now owns 28,916,192 shares of the apparel retailer’s stock worth $4,243,740,000 after purchasing an additional 346,474 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Ross Stores by 11.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,310,364 shares of the apparel retailer’s stock worth $481,062,000 after buying an additional 347,006 shares in the last quarter. Legal & General Group Plc raised its position in Ross Stores by 10.3% in the 2nd quarter. Legal & General Group Plc now owns 2,737,042 shares of the apparel retailer’s stock worth $397,747,000 after buying an additional 254,720 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Ross Stores by 15.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,477,142 shares of the apparel retailer’s stock valued at $359,991,000 after acquiring an additional 331,996 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Ross Stores by 68.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 2,391,856 shares of the apparel retailer’s stock valued at $347,585,000 after acquiring an additional 975,190 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Up 0.5 %

NASDAQ ROST opened at $149.90 on Monday. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. Ross Stores, Inc. has a 12 month low of $112.39 and a 12 month high of $163.60. The stock’s 50 day moving average is $149.21 and its 200 day moving average is $143.28. The stock has a market cap of $50.00 billion, a PE ratio of 25.28, a P/E/G ratio of 2.33 and a beta of 1.09.

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

Ross Stores Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were issued a $0.3675 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.47 annualized dividend and a dividend yield of 0.98%. Ross Stores’s dividend payout ratio (DPR) is 24.79%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ROST. Bank of America increased their price objective on shares of Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Barclays raised their price target on Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley increased their target price on Ross Stores from $163.00 to $178.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Loop Capital boosted their price target on Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Ross Stores from $160.00 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $169.71.

Insider Buying and Selling

In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of the firm’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 transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now owns 103,049 shares in the company, valued at $16,038,546.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, 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 transaction of $1,302,084.24. Following the sale, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at $16,038,546.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael Balmuth sold 14,887 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the completion of the transaction, the chairman now directly owns 11,133 shares of the company’s stock, valued at approximately $1,694,665.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,138 shares of company stock worth $11,093,051. Corporate insiders own 2.10% of the company’s stock.

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.