Invst LLC Makes New Investment in Ross Stores, Inc. $ROST

Key Points

• Invst LLC has made a new investment in Ross Stores, purchasing 12,313 shares valued at approximately $1.57 million.
• Ross Stores recently reported earnings per share (EPS) of $1.56 for the last quarter, exceeding analysts' expectations, with revenue reaching $5.53 billion.
• The company announced a quarterly dividend of $0.405, representing an annualized yield of 1.1%, with an ex-dividend date of September 9th.

Invst LLC bought a new position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,313 shares of the apparel retailer's stock, valued at approximately $1,574,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Ross Stores by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 34,121,706 shares of the apparel retailer's stock valued at $4,360,413,000 after buying an additional 4,946,101 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in Ross Stores by 59.3% in the first quarter. EdgePoint Investment Group Inc. now owns 4,055,088 shares of the apparel retailer's stock valued at $518,200,000 after acquiring an additional 1,509,815 shares during the period. Invesco Ltd. boosted its stake in Ross Stores by 5.0% in the first quarter. Invesco Ltd. now owns 3,997,575 shares of the apparel retailer's stock valued at $510,850,000 after acquiring an additional 192,148 shares during the period. Royal Bank of Canada grew its holdings in shares of Ross Stores by 69.6% during the fourth quarter. Royal Bank of Canada now owns 3,336,312 shares of the apparel retailer's stock valued at $504,684,000 after purchasing an additional 1,368,571 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Ross Stores by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,912,392 shares of the apparel retailer's stock worth $372,134,000 after purchasing an additional 15,085 shares during the period. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Stock Performance

ROST stock opened at $151.10 on Friday. The company has a 50-day simple moving average of $141.97 and a 200 day simple moving average of $138.13. The company has a market capitalization of $49.42 billion, a P/E ratio of 23.98, a PEG 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 fifty-two week low of $122.36 and a fifty-two week high of $158.69.

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

Ross Stores Dividend Announcement

The company also recently announced 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. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, September 9th. Ross Stores's dividend payout ratio is 25.71%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Jefferies Financial Group upgraded Ross Stores from a "hold" rating to a "buy" rating and boosted their price objective for the company from $135.00 to $150.00 in a research report on Wednesday, July 2nd. Loop Capital reduced their price target on shares of Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 23rd. UBS Group upped their price target 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. Evercore ISI cut their price objective on shares of Ross Stores from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Ross Stores from $165.00 to $175.00 and gave the company an "overweight" rating in a research note 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, Ross Stores presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.67.

Insider Transactions at Ross Stores

In other news, CMO Karen Sykes sold 4,000 shares of Ross Stores stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total transaction of $607,040.00. Following the transaction, the chief marketing officer directly owned 106,413 shares in the company, valued at approximately $16,149,236.88. This trade represents a 3.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.20% 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.

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