Cypress Capital Group Purchases 3,056 Shares of Ross Stores, Inc. $ROST

Key Points

• Cypress Capital Group increased its stake in Ross Stores by 18.0% during the second quarter, now owning 20,039 shares worth approximately $2,557,000.
• Insider trades showed significant sales, including a sale by CEO James Grant Conroy of 39,351 shares totaling $5,745,246, representing a 20.03% decrease in his position.
• Ross Stores recently declared a quarterly dividend of $0.405 per share, with a dividend yield of 1.1% and a payout ratio of 25.71%.

Cypress Capital Group increased its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 18.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,039 shares of the apparel retailer's stock after buying an additional 3,056 shares during the quarter. Cypress Capital Group's holdings in Ross Stores were worth $2,557,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Index Fund Advisors Inc. bought a new stake in Ross Stores in the second quarter worth $392,000. CWM LLC lifted its position in Ross Stores by 41.7% in the second quarter. CWM LLC now owns 15,907 shares of the apparel retailer's stock worth $2,029,000 after buying an additional 4,682 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE lifted its position in Ross Stores by 1.6% in the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,085 shares of the apparel retailer's stock worth $4,093,000 after buying an additional 494 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Ross Stores by 23.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,676 shares of the apparel retailer's stock worth $5,446,000 after buying an additional 8,040 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its position in Ross Stores by 10.4% in the second quarter. Apollon Wealth Management LLC now owns 21,219 shares of the apparel retailer's stock worth $2,707,000 after buying an additional 2,002 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors.

Insider Transactions at Ross Stores

In other news, insider Stephen C. Brinkley sold 6,437 shares of the firm's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $150.97, for a total transaction of $971,793.89. Following the transaction, the insider owned 57,012 shares in the company, valued at approximately $8,607,101.64. This trade represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James Grant Conroy sold 39,351 shares of the firm's stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $146.00, for a total value of $5,745,246.00. Following the transaction, the chief executive officer owned 157,153 shares in the company, valued at approximately $22,944,338. This represents a 20.03% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,720 shares of company stock worth $7,761,212. Corporate insiders own 2.20% of the company's stock.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $147.71 on Monday. The firm has a market cap of $48.04 billion, a P/E ratio of 23.45, a P/E/G ratio of 2.84 and a beta of 1.18. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $158.69. The stock's fifty day moving average price is $148.57 and its 200-day moving average price is $140.96.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.54 by $0.02. The firm 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%.The business's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.59 earnings per share. On average, equities research analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a dividend of $0.405 per share. The ex-dividend date was Tuesday, September 9th. This represents a $1.62 annualized dividend and a dividend yield of 1.1%. Ross Stores's dividend payout ratio (DPR) is currently 25.71%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ROST. Barclays raised their price target on Ross Stores from $156.00 to $164.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Jefferies Financial Group upgraded Ross Stores from a "hold" rating to a "buy" rating and increased their target price for the stock from $135.00 to $150.00 in a research note on Wednesday, July 2nd. UBS Group increased their target price on Ross Stores from $144.00 to $147.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. increased their target price on Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Finally, Morgan Stanley increased their target price on Ross Stores from $128.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Friday, August 22nd. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.67.

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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