Ross Stores, Inc. $ROST Position Increased by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR raised its position in Ross Stores by 315.9% in Q2 2023, acquiring a total of 33,329 shares valued at approximately $4.25 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Ross Stores, with an average price target of $162.33, following reports of earnings that exceeded expectations in the last quarter.
• Insiders at Ross Stores have sold a total of 52,720 shares valued at around $7.76 million over the past three months, indicating a 10.15% decrease in ownership for some key executives.

Generali Asset Management SPA SGR raised its position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 315.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,329 shares of the apparel retailer's stock after buying an additional 25,315 shares during the quarter. Generali Asset Management SPA SGR's holdings in Ross Stores were worth $4,252,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Bayforest Capital Ltd lifted its position in shares of Ross Stores by 189.6% in the second quarter. Bayforest Capital Ltd now owns 698 shares of the apparel retailer's stock worth $89,000 after purchasing an additional 457 shares in the last quarter. Sagespring Wealth Partners LLC lifted its position in shares of Ross Stores by 12.7% in the second quarter. Sagespring Wealth Partners LLC now owns 4,217 shares of the apparel retailer's stock worth $538,000 after purchasing an additional 475 shares in the last quarter. Moran Wealth Management LLC purchased a new stake in shares of Ross Stores in the second quarter worth approximately $4,344,000. NorthRock Partners LLC lifted its position in shares of Ross Stores by 9.7% in the second quarter. NorthRock Partners LLC now owns 5,260 shares of the apparel retailer's stock worth $671,000 after purchasing an additional 467 shares in the last quarter. Finally, Vest Financial LLC lifted its position in shares of Ross Stores by 42.2% in the second quarter. Vest Financial LLC now owns 279,193 shares of the apparel retailer's stock worth $35,619,000 after purchasing an additional 82,878 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Cowen reissued a "buy" rating on shares of Ross Stores in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ross Stores in a research report on Tuesday. Morgan Stanley raised their price objective on shares of Ross Stores from $128.00 to $130.00 and gave the company an "equal weight" rating in a research report on Friday, August 22nd. Telsey Advisory Group reaffirmed a "market perform" rating and set a $160.00 price objective (up previously from $150.00) on shares of Ross Stores in a research report on Monday, August 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ross Stores from $156.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $162.33.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, insider Stephen C. Brinkley sold 6,437 shares of Ross Stores stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $150.97, for a total transaction of $971,793.89. Following the sale, the insider owned 57,012 shares in the company, valued at $8,607,101.64. The trade was a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Karen Sykes sold 4,000 shares of Ross Stores stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total transaction of $607,040.00. Following the sale, the chief marketing officer owned 106,413 shares in the company, valued at $16,149,236.88. This represents a 3.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,720 shares of company stock worth $7,761,212 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

Ross Stores Trading Up 1.1%

Shares of Ross Stores stock opened at $156.99 on Thursday. The company's fifty day simple moving average is $149.31 and its 200-day simple moving average is $141.37. The company has a market cap of $51.06 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 2.98 and a beta of 1.18. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. 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, topping the consensus estimate of $1.54 by $0.02. The business had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.54 billion. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. Ross Stores's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $1.59 earnings per share. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a dividend of $0.405 per share. 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%.

Ross Stores Company 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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