2,530 Shares in Ross Stores, Inc. $ROST Purchased by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC acquired 2,530 shares of Ross Stores, valued at approximately $323,000, marking a new position for the firm in the company.
• Insider selling activity included CMO Karen Sykes selling 4,000 shares at an average price of $151.76, reducing her stake by 3.62%.
• JPMorgan Chase & Co. and Wells Fargo & Company both increased their price targets for Ross Stores to $160.00 and $175.00, respectively, as analyst ratings reflect a consensus of "Moderate Buy" for the stock.

MBB Public Markets I LLC acquired a new position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,530 shares of the apparel retailer's stock, valued at approximately $323,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC increased its position in shares of Ross Stores by 50.7% during the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock worth $28,000 after purchasing an additional 73 shares during the last quarter. Bayforest Capital Ltd increased its position in shares of Ross Stores by 372.5% during the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock worth $31,000 after purchasing an additional 190 shares during the last quarter. Banque Transatlantique SA acquired a new stake in shares of Ross Stores during the 1st quarter worth about $29,000. Tradewinds Capital Management LLC increased its position in shares of Ross Stores by 36.6% during the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock worth $36,000 after purchasing an additional 75 shares during the last quarter. Finally, Putney Financial Group LLC acquired a new stake in shares of Ross Stores during the 4th quarter worth about $44,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ross Stores

In other Ross Stores news, CMO Karen Sykes sold 4,000 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $151.76, for a total value of $607,040.00. Following the sale, the chief marketing officer owned 106,413 shares of the company's stock, valued at $16,149,236.88. This trade represents a 3.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on ROST. Cowen restated a "buy" rating on shares of Ross Stores in a report on Friday, August 22nd. Wall Street Zen cut Ross Stores from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. raised their target price on Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Morgan Stanley increased their target price on shares of Ross Stores from $128.00 to $130.00 and gave the stock an "equal weight" rating in a report on Friday, August 22nd. Finally, Wells Fargo & Company increased their target price on shares of Ross Stores from $165.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $160.67.

Ross Stores Price Performance

ROST stock opened at $151.57 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98. The firm has a market capitalization of $49.57 billion, a P/E ratio of 24.06, a P/E/G ratio of 2.90 and a beta of 1.15. The business's 50-day moving average is $140.84 and its two-hundred day moving average is $137.87. Ross Stores, Inc. has a 1 year low of $122.36 and a 1 year high of $158.69.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its quarterly earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.02. The company had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.54 billion. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.Ross Stores's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.59 EPS. Analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. Ross Stores's dividend payout ratio (DPR) is currently 25.71%.

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.

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