Convergence Financial LLC Sells 227 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Convergence Financial LLC lessened its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 12.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,641 shares of the apparel retailer’s stock after selling 227 shares during the period. Convergence Financial LLC’s holdings in Ross Stores were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Ross Stores by 6.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 61,269 shares of the apparel retailer’s stock worth $8,992,000 after buying an additional 3,678 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Ross Stores by 13.9% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 13,825 shares of the apparel retailer’s stock worth $2,029,000 after buying an additional 1,685 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Ross Stores in the 1st quarter worth $863,000. Silverlake Wealth Management LLC bought a new position in shares of Ross Stores in the 1st quarter worth $205,000. Finally, Azzad Asset Management Inc. ADV increased its holdings in shares of Ross Stores by 0.7% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 16,955 shares of the apparel retailer’s stock worth $2,488,000 after buying an additional 122 shares during the last quarter. Institutional investors own 86.86% of the company’s stock.

Wall Street Analysts Forecast Growth

ROST has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of Ross Stores from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Gordon Haskett raised shares of Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. UBS Group increased their target price on shares of Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. StockNews.com raised shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Finally, Bank of America increased 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. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $169.71.

Ross Stores Trading Down 0.1 %

NASDAQ:ROST opened at $144.22 on Friday. The company has a 50-day moving average price of $149.37 and a 200-day moving average price of $143.45. Ross Stores, Inc. has a 12 month low of $112.39 and a 12 month high of $163.60. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. The stock has a market cap of $47.85 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 2.37 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last posted 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. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same period last year, the company posted $1.32 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts predict that Ross Stores, Inc. will post 6.2 EPS for the current year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were given a $0.3675 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.47 annualized dividend and a dividend yield of 1.02%. Ross Stores’s dividend payout ratio is 23.71%.

Insider Transactions at Ross Stores

In other news, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the sale, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Barbara Rentler sold 48,885 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 311,853 shares in the company, valued at $48,003,532.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael J. Hartshorn sold 8,366 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $16,038,546.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,138 shares of company stock valued at $11,093,051. Company insiders own 2.10% of the company’s stock.

Ross Stores Company 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 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.