Moran Wealth Management LLC Invests $4.34 Million in Ross Stores, Inc. $ROST

Key Points

• Moran Wealth Management LLC invested $4.34 million in Ross Stores, Inc. during the second quarter by acquiring 34,049 shares of the company's stock.
• Insiders of Ross Stores have recently sold significant amounts of stock, including CEO James Conroy selling 39,351 shares, representing a 20.03% decrease in his position.
• Wall Street analysts have a generally positive outlook on Ross Stores, with several raising their price targets, resulting in an average target price of $162.33 and a consensus rating of "Moderate Buy."

Moran Wealth Management LLC bought a new position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,049 shares of the apparel retailer's stock, valued at approximately $4,344,000.

Several other hedge funds have also made changes to their positions in the business. ICW Investment Advisors LLC boosted its stake in shares of Ross Stores by 0.4% during the first quarter. ICW Investment Advisors LLC now owns 18,458 shares of the apparel retailer's stock worth $2,359,000 after buying an additional 67 shares during the period. CreativeOne Wealth LLC lifted its position in Ross Stores by 3.8% in the first quarter. CreativeOne Wealth LLC now owns 1,932 shares of the apparel retailer's stock valued at $247,000 after purchasing an additional 70 shares during the period. Golden State Wealth Management LLC lifted its position in Ross Stores by 50.7% in the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock valued at $28,000 after purchasing an additional 73 shares during the period. First Horizon Advisors Inc. lifted its position in Ross Stores by 6.1% in the first quarter. First Horizon Advisors Inc. now owns 1,280 shares of the apparel retailer's stock valued at $164,000 after purchasing an additional 74 shares during the period. Finally, Tradewinds Capital Management LLC lifted its position in Ross Stores by 36.6% in the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock valued at $36,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 86.86% of the company's stock.

Insider Activity

In other Ross Stores news, CMO Karen Fleming sold 2,932 shares of the business's stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $149.09, for a total value of $437,131.88. Following the transaction, the chief marketing officer owned 88,335 shares in the company, valued at $13,169,865.15. The trade was a 3.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Grant Conroy sold 39,351 shares of the business's stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $146.00, for a total transaction of $5,745,246.00. Following the completion of the transaction, the chief executive officer owned 157,153 shares in the company, valued at $22,944,338. This represents a 20.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,720 shares of company stock worth $7,761,212. 2.20% of the stock is owned by corporate insiders.

Ross Stores Stock Up 0.3%

ROST stock opened at $155.26 on Wednesday. Ross Stores, Inc. has a one year low of $122.36 and a one year high of $158.69. The company has a 50 day moving average price of $149.10 and a two-hundred day moving average price of $141.27. The stock has a market capitalization of $50.49 billion, a P/E ratio of 24.64, a PEG ratio of 2.97 and a beta of 1.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58.

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 the consensus estimate of $1.54 by $0.02. The company had revenue of $5.53 billion during 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 business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.59 EPS. As a group, sell-side analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The company also recently disclosed 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 was Tuesday, September 9th. This represents a $1.62 dividend on an annualized basis and a yield of 1.0%. Ross Stores's payout ratio is currently 25.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Ross Stores from $165.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Barclays raised their price objective on shares of Ross Stores from $156.00 to $164.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ross Stores in a research note on Tuesday. Morgan Stanley upped their price target on shares of Ross Stores from $128.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Friday, August 22nd. Finally, Robert W. Baird upped their price target on shares of Ross Stores from $160.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, August 22nd. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $162.33.

About Ross Stores

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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