MGO One Seven LLC Purchases Shares of 22,931 Ross Stores, Inc. $ROST

Key Points

• MGO One Seven LLC acquired a new stake in Ross Stores, Inc. by purchasing 22,931 shares valued at approximately $2.93 million during the 2nd quarter.
• Insider trading activity was noted as Stephen C. Brinkley, an insider, sold 6,437 shares for nearly $971,794, reducing his ownership by 10.15%.
• Ross Stores reported a quarterly EPS of $1.56, beating expectations, with revenue slightly lower than analyst predictions at $5.53 billion.

MGO One Seven LLC purchased a new stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 22,931 shares of the apparel retailer's stock, valued at approximately $2,926,000.

Other large investors have also recently bought and sold shares of the company. Sowell Financial Services LLC bought a new position in Ross Stores in the 1st quarter valued at about $328,000. Aurora Private Wealth Inc. bought a new position in Ross Stores in the 1st quarter valued at about $1,476,000. MQS Management LLC bought a new position in Ross Stores in the 1st quarter valued at about $630,000. China Universal Asset Management Co. Ltd. raised its holdings in Ross Stores by 50.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,149 shares of the apparel retailer's stock valued at $1,041,000 after acquiring an additional 2,750 shares during the period. Finally, Pallas Capital Advisors LLC raised its holdings in Ross Stores by 59.9% in the 2nd quarter. Pallas Capital Advisors LLC now owns 7,591 shares of the apparel retailer's stock valued at $968,000 after acquiring an additional 2,843 shares during the period. 86.86% of the stock is owned by institutional investors.

Insider Activity at Ross Stores

In other Ross Stores news, insider Stephen C. Brinkley sold 6,437 shares of the firm's stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $150.97, for a total value of $971,793.89. Following the sale, the insider owned 57,012 shares in the company, valued at $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 available at this link. Also, CMO Karen Fleming sold 2,932 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $13,169,865.15. This represents a 3.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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 NASDAQ:ROST opened at $155.26 on Wednesday. The company's 50 day simple moving average is $149.10 and its 200 day simple moving average is $141.27. The stock has a market capitalization of $50.49 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 2.97 and a beta of 1.18. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98. 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 announced its quarterly earnings data 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 business had revenue of $5.53 billion for the quarter, compared to analysts' expectations of $5.54 billion. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The firm's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $1.59 earnings per share. As a group, research analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 9th. Ross Stores's dividend payout ratio (DPR) is 25.71%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ross Stores in a report on Tuesday. Morgan Stanley raised 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. JPMorgan Chase & Co. raised their target price on shares of Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. BTIG Research assumed coverage on shares of Ross Stores in a report on Tuesday. They set a "neutral" rating on the stock. Finally, Robert W. Baird raised their target price on shares of Ross Stores from $160.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, August 22nd. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Ross Stores currently has a consensus rating of "Moderate Buy" and an average price target of $162.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.