Leo Wealth LLC Buys Shares of 3,624 Ross Stores, Inc. $ROST

Key Points

• Leo Wealth LLC acquired a new stake in Ross Stores, Inc. during the second quarter, purchasing 3,624 shares valued at approximately $462,000.
• The company reported earnings per share of $1.56 for the last quarter, slightly beating analysts' expectations, with a revenue of $5.53 billion, reflecting a 4.6% year-over-year increase.
• Ross Stores announced a quarterly dividend of $0.405, representing an annual yield of 1.1% and a payout ratio of 25.71%.

Leo Wealth LLC bought a new stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,624 shares of the apparel retailer's stock, valued at approximately $462,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its stake 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 valued at $28,000 after buying an additional 73 shares in the last quarter. Bayforest Capital Ltd grew its position in Ross Stores by 372.5% in the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock worth $31,000 after acquiring an additional 190 shares in the last quarter. Banque Transatlantique SA bought a new stake in Ross Stores in the first quarter worth approximately $29,000. Tradewinds Capital Management LLC boosted its holdings in Ross Stores by 36.6% in the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock worth $36,000 after purchasing an additional 75 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in Ross Stores in the second quarter worth $38,000. Hedge funds and other institutional investors own 86.86% of the company's stock.

Ross Stores Price Performance

Shares of NASDAQ:ROST opened at $149.98 on Friday. The business has a 50 day moving average price of $148.36 and a 200 day moving average price of $140.66. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $158.69. The company has a market cap of $48.78 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 2.92 and a beta of 1.18. 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 (NASDAQ:ROST - Get Free Report) last posted its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.02. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The company had revenue of $5.53 billion during the quarter, compared to analysts' expectations of $5.54 billion. During the same period in the prior year, the business earned $1.59 earnings per share. Ross Stores's revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a $0.405 dividend. The ex-dividend date of this dividend was 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 is 25.71%.

Insider Buying and Selling at Ross Stores

In related news, CEO James Grant Conroy sold 39,351 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 157,153 shares in the company, valued at approximately $22,944,338. This trade represents a 20.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Karen Fleming sold 2,932 shares of the stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $149.09, for a total transaction of $437,131.88. Following the completion of the sale, the chief marketing officer owned 88,335 shares of the company's stock, valued at approximately $13,169,865.15. The trade was a 3.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,283 shares of company stock valued at $6,789,418 in the last ninety days. Company insiders own 2.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ROST shares. UBS Group upped their price objective on shares of Ross Stores from $144.00 to $147.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Barclays upped their price target on Ross Stores from $156.00 to $164.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Telsey Advisory Group reiterated a "market perform" rating and set a $160.00 price target (up previously from $150.00) on shares of Ross Stores in a research note on Monday, August 18th. Cowen reaffirmed a "buy" rating on shares of Ross Stores in a research report on Friday, August 22nd. Finally, Jefferies Financial Group raised Ross Stores from a "hold" rating to a "buy" rating and upped their target price for the stock from $135.00 to $150.00 in a research report on Wednesday, July 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Ross Stores presently has a consensus rating of "Moderate Buy" and an average price target of $160.67.

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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