Evergreen Private Wealth LLC Acquires 2,689 Shares of Ross Stores, Inc. $ROST

Key Points

• Evergreen Private Wealth LLC increased its holdings in Ross Stores, Inc. by 8.0%, acquiring an additional 2,689 shares to own a total of 36,488 shares valued at approximately $4.65 million.
• Ross Stores reported earnings of $1.56 per share in its most recent quarter, slightly exceeding analyst expectations, with revenues amounting to $5.53 billion.
• The company plans to pay a quarterly dividend of $0.405 on September 30, representing an annualized dividend yield of 1.1%.

Evergreen Private Wealth LLC grew its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,488 shares of the apparel retailer's stock after purchasing an additional 2,689 shares during the quarter. Ross Stores makes up 2.0% of Evergreen Private Wealth LLC's portfolio, making the stock its 24th biggest position. Evergreen Private Wealth LLC's holdings in Ross Stores were worth $4,655,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Golden State Wealth Management LLC grew its position in shares of Ross Stores by 50.7% in the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock worth $28,000 after buying an additional 73 shares during the last quarter. Bayforest Capital Ltd grew its position in shares of Ross Stores by 372.5% in the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock worth $31,000 after buying an additional 190 shares during the last quarter. Banque Transatlantique SA purchased a new position in shares of Ross Stores in the 1st quarter worth approximately $29,000. Tradewinds Capital Management LLC grew its position in shares of Ross Stores by 36.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock worth $36,000 after buying an additional 75 shares during the last quarter. Finally, Carderock Capital Management Inc. purchased a new position in shares of Ross Stores in the 2nd quarter worth approximately $48,000. Institutional investors own 86.86% of the company's stock.

Ross Stores Price Performance

Shares of NASDAQ ROST opened at $149.46 on Friday. The firm has a 50-day simple moving average of $145.25 and a 200-day simple moving average of $138.81. The stock has a market capitalization of $48.61 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 2.87 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $158.69.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.02. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The firm had revenue of $5.53 billion during the quarter, compared to analysts' expectations of $5.54 billion. During the same period last year, the business earned $1.59 earnings per share. Ross Stores's revenue was up 4.6% compared to the same quarter last year. On average, equities analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $0.405 dividend. The ex-dividend date of this dividend is 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 presently 25.71%.

Insider Activity at Ross Stores

In other news, CMO Karen Sykes sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $151.76, for a total value of $607,040.00. Following the completion of the transaction, the chief marketing officer owned 106,413 shares of the company's stock, valued at approximately $16,149,236.88. This trade represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ROST shares. Cowen reissued a "buy" rating on shares of Ross Stores in a research report on Friday, August 22nd. UBS Group boosted their target price on shares of Ross Stores from $144.00 to $147.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Morgan Stanley boosted their target price on shares of Ross Stores from $128.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Friday, August 22nd. Jefferies Financial Group raised shares of Ross Stores from a "hold" rating to a "buy" rating and boosted their target price for the stock from $135.00 to $150.00 in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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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