Ross Stores, Inc. $ROST Holdings Boosted by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its Ross Stores stake by 1,483% in the third quarter, bringing its holdings to 35,000 shares valued at approximately $8.17 million. Institutional investors and hedge funds collectively own 86.86% of the company.
• Ross Stores reported strong quarterly results, with EPS of $2.66 versus the $1.95 consensus estimate and revenue of $6.26 billion, up 13.3% year over year. The company also pays a quarterly dividend of $0.445 per share, representing a 0.8% annualized yield.
• Analysts remain broadly positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $272.06. Meanwhile, CEO James Conroy and another insider sold shares in September, reducing their respective holdings.

International Assets Investment Management LLC lifted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 1,483.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the apparel retailer's stock after buying an additional 32,789 shares during the quarter. International Assets Investment Management LLC's holdings in Ross Stores were worth $8,169,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Virtus Advisers LLC acquired a new stake in Ross Stores in the second quarter valued at $38,000. Twin Lakes Capital Management LLC bought a new position in Ross Stores during the 2nd quarter valued at $41,000. Bell Investment Advisors Inc bought a new position in Ross Stores during the 2nd quarter valued at $43,000. BOK Financial Private Wealth Inc. acquired a new position in Ross Stores during the 2nd quarter worth $44,000. Finally, Elevation Wealth Partners LLC grew its holdings in Ross Stores by 402.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 211 shares of the apparel retailer's stock worth $45,000 after acquiring an additional 169 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company's stock.

Ross Stores Stock Performance

ROST stock opened at $228.28 on Friday. The stock's 50 day simple moving average is $231.17 and its 200 day simple moving average is $222.06. Ross Stores, Inc. has a 12-month low of $157.39 and a 12-month high of $257.00. The firm has a market cap of $72.92 billion, a P/E ratio of 27.64, a P/E/G ratio of 2.04 and a beta of 0.83. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.71. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the previous year, the company posted $1.56 earnings per share. The firm's revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts predict that Ross Stores, Inc. will post 8.15 EPS for the current year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th were issued a $0.4450 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. Ross Stores's payout ratio is 21.55%.

Insider Transactions at Ross Stores

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

Analysts Set New Price Targets

Several research firms have recently weighed in on ROST. Weiss Ratings raised shares of Ross Stores from a "buy (a-)" rating to a "buy (a)" rating in a research report on Friday. Truist Financial increased their price target on shares of Ross Stores from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, August 21st. Wolfe Research began coverage on shares of Ross Stores in a research report on Wednesday, October 21st. They set an "outperform" rating and a $279.00 price target on the stock. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $294.00 price target on shares of Ross Stores in a research note on Friday, August 21st. Finally, Wall Street Zen raised Ross Stores from a "hold" rating to a "buy" rating in a report on Sunday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $272.06.

Ross Stores Company Profile

Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.

Ross Stores also operates dd's DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.

Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.

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