Ross Stores, Inc. (NASDAQ:ROST) Shares Bought by NovaPoint Capital LLC

NovaPoint Capital LLC lifted its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 3.3% during the third quarter, Holdings Channel reports. The firm owned 25,905 shares of the apparel retailer’s stock after acquiring an additional 826 shares during the quarter. NovaPoint Capital LLC’s holdings in Ross Stores were worth $3,899,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quotient Wealth Partners LLC increased its position in Ross Stores by 4.0% during the second quarter. Quotient Wealth Partners LLC now owns 2,197 shares of the apparel retailer’s stock worth $319,000 after buying an additional 85 shares during the period. Checchi Capital Advisers LLC increased its holdings in shares of Ross Stores by 2.4% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,673 shares of the apparel retailer’s stock valued at $534,000 after acquiring an additional 86 shares during the period. Kintegral Advisory LLC raised its position in Ross Stores by 3.0% in the 2nd quarter. Kintegral Advisory LLC now owns 2,943 shares of the apparel retailer’s stock valued at $428,000 after purchasing an additional 87 shares during the last quarter. Parallel Advisors LLC boosted its stake in Ross Stores by 1.5% during the 2nd quarter. Parallel Advisors LLC now owns 5,929 shares of the apparel retailer’s stock worth $862,000 after purchasing an additional 87 shares during the period. Finally, Bleakley Financial Group LLC grew its position in Ross Stores by 1.4% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,214 shares of the apparel retailer’s stock worth $935,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Barclays boosted their target price on Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Gordon Haskett raised Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. TD Cowen boosted their price objective on shares of Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $169.71.

Ross Stores Stock Up 0.5 %

Ross Stores stock opened at $149.90 on Friday. Ross Stores, Inc. has a fifty-two week low of $112.39 and a fifty-two week high of $163.60. The firm has a market capitalization of $49.73 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 2.33 and a beta of 1.09. The stock’s fifty day moving average is $149.21 and its two-hundred day moving average is $143.27. 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 (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the company earned $1.32 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. Analysts predict that Ross Stores, Inc. will post 6.2 EPS for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently disclosed 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 was Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 0.98%. Ross Stores’s dividend payout ratio (DPR) is 23.71%.

Insider Buying and Selling

In other Ross Stores news, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $152.22, for a total value of $2,266,099.14. Following the transaction, the chairman now directly owns 11,133 shares in the company, valued at approximately $1,694,665.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the sale, the chief executive officer now directly owns 311,853 shares in the company, valued at $48,003,532.29. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,138 shares of company stock worth $11,093,051 in the last ninety days. Insiders own 2.10% of the company’s stock.

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 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.