NewEdge Advisors LLC Buys 5,012 Shares of Ross Stores, Inc. $ROST

Key Points

• NewEdge Advisors increased its Ross Stores stake by 40.6% in the second quarter, acquiring 5,012 additional shares for a total position valued at approximately $3.7 million. Institutional investors and hedge funds collectively own 86.86% of the company.
• Analysts maintain a favorable outlook, with 15 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $263.76.
• Ross Stores surpassed quarterly expectations with earnings of $2.66 per share and revenue of $6.26 billion, while declaring a quarterly dividend of $0.445. The CEO and another insider also sold shares in September.

NewEdge Advisors LLC boosted its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 40.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,353 shares of the apparel retailer's stock after buying an additional 5,012 shares during the period. NewEdge Advisors LLC's holdings in Ross Stores were worth $3,694,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in Ross Stores by 35.0% during the second quarter. IFP Advisors Inc now owns 2,031 shares of the apparel retailer's stock worth $432,000 after buying an additional 527 shares during the last quarter. Allworth Financial LP lifted its position in Ross Stores by 20.7% in the 2nd quarter. Allworth Financial LP now owns 6,721 shares of the apparel retailer's stock valued at $1,431,000 after acquiring an additional 1,153 shares in the last quarter. West Family Investments Inc. bought a new position in Ross Stores in the 2nd quarter valued at about $765,000. Waverly Advisors LLC boosted its stake in Ross Stores by 18.1% during the 2nd quarter. Waverly Advisors LLC now owns 5,722 shares of the apparel retailer's stock valued at $1,218,000 after purchasing an additional 875 shares during the last quarter. Finally, Empirical Finance LLC boosted its stake in Ross Stores by 3.1% during the 2nd quarter. Empirical Finance LLC now owns 11,966 shares of the apparel retailer's stock valued at $2,547,000 after purchasing an additional 359 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group raised their target price on Ross Stores from $232.00 to $239.00 and gave the company a "neutral" rating in a report on Friday, August 21st. JPMorgan Chase & Co. increased their price target on Ross Stores from $262.00 to $272.00 and gave the company an "overweight" rating in a research report on Friday, August 21st. Morgan Stanley raised their price objective on Ross Stores from $231.00 to $234.00 and gave the company an "equal weight" rating in a research note on Friday, August 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ross Stores in a report on Monday, July 6th. Finally, Robert W. Baird upped their target price on shares of Ross Stores from $250.00 to $270.00 and gave the stock an "outperform" rating in a research note on Friday, August 21st. Fifteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $263.76.

Ross Stores Stock Down 1.6%

ROST stock opened at $226.26 on Wednesday. The stock has a market cap of $72.28 billion, a P/E ratio of 27.39, a P/E/G ratio of 1.93 and a beta of 0.85. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The stock's fifty day simple moving average is $236.74 and its two-hundred day simple moving average is $226.27. Ross Stores, Inc. has a 1-year low of $143.39 and a 1-year high of $257.00.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.71. The company had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.56 EPS. Analysts expect that Ross Stores, Inc. will post 8.15 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 8th. Ross Stores's payout ratio is 21.55%.

Insider Activity at Ross Stores

In other Ross Stores news, insider Stephen C. Brinkley sold 6,424 shares of the business's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $229.66, for a total value of $1,475,335.84. Following the sale, the insider directly owned 51,665 shares in the company, valued at $11,865,383.90. The trade was a 11.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Grant Conroy sold 49,205 shares of the business's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $229.48, for a total value of $11,291,563.40. Following the completion of the sale, the chief executive officer owned 134,349 shares in the company, valued at approximately $30,830,408.52. The trade was a 26.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is currently owned by corporate insiders.

About Ross Stores

Ross Stores, Inc NASDAQ: ROST is an off-price retailer that operates Ross Dress for Less and dd's DISCOUNTS stores. The company sells a broad selection of apparel, accessories, footwear and home fashion merchandise for women, men and children, generally at prices below those of traditional department and specialty stores.

Ross Stores follows an opportunistic buying model, purchasing name-brand, designer and other merchandise from manufacturers and retailers at discounted prices. Its product assortment changes frequently and can include clothing, shoes, handbags, jewelry, beauty products, furniture, bedding, home décor and other household goods.

Founded in 1950, the company is headquartered in Dublin, California, and serves customers primarily through its store network across the United States and Guam.

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