Ross Stores, Inc. $ROST Shares Bought by Brookstone Capital Management

Key Points

• Brookstone Capital Management increased its Ross Stores position by 6,226.7% in the third quarter, acquiring 63,575 additional shares and ending with a stake worth approximately $15.1 million. Institutional investors and hedge funds collectively own 86.86% of the stock.
• Ross Stores reported strong quarterly results, with earnings of $2.66 per share versus the $1.95 consensus estimate and revenue of $6.26 billion, up 13.3% year over year.
• Analysts maintain a generally positive outlook, assigning the stock a “Moderate Buy” consensus rating and an average price target of $264.61, above its reported opening price of $229.30.

Brookstone Capital Management lifted its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 6,226.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,596 shares of the apparel retailer's stock after buying an additional 63,575 shares during the quarter. Brookstone Capital Management's holdings in Ross Stores were worth $15,077,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in shares of Ross Stores by 89.2% during the second quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer's stock worth $1,408,148,000 after purchasing an additional 3,118,591 shares in the last quarter. United Capital Financial Advisors LLC acquired a new position in Ross Stores in the 2nd quarter valued at $3,390,000. NewEdge Advisors LLC boosted its holdings in Ross Stores by 40.6% in the 2nd quarter. NewEdge Advisors LLC now owns 17,353 shares of the apparel retailer's stock valued at $3,694,000 after purchasing an additional 5,012 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Ross Stores during the second quarter worth $34,867,000. Finally, Elevation Point Wealth Partners LLC lifted its stake in shares of Ross Stores by 459.5% in the first quarter. Elevation Point Wealth Partners LLC now owns 26,095 shares of the apparel retailer's stock valued at $5,653,000 after purchasing an additional 21,431 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Price Performance

Shares of NASDAQ:ROST opened at $229.30 on Friday. Ross Stores, Inc. has a 12 month low of $156.41 and a 12 month high of $257.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.98. The stock's 50 day moving average price is $231.44 and its 200 day moving average price is $230.04. The stock has a market cap of $73.25 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.99 and a beta of 0.83.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.71. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. The business had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.16 billion. During the same quarter last year, the business posted $1.56 earnings per share. The company's quarterly revenue was up 13.3% on a year-over-year basis. Equities research analysts anticipate that Ross Stores, Inc. will post 8.15 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Evercore set a $290.00 price objective on shares of Ross Stores in a research report on Friday, August 21st. Barclays increased their target price on Ross Stores from $260.00 to $298.00 and gave the stock an "overweight" rating in a research report on Friday, August 21st. Morgan Stanley increased their price objective on shares of Ross Stores from $231.00 to $234.00 and gave the stock an "equal weight" rating in a research report on Friday, August 21st. Telsey Advisory Group boosted their price target on Ross Stores from $265.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. Finally, Robert W. Baird boosted their price target on Ross Stores from $250.00 to $270.00 and gave the stock an "outperform" rating in a research note on Friday, August 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $264.61.

Insider Transactions at Ross Stores

In other news, insider Stephen C. Brinkley sold 6,424 shares of the company's 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 completion of the sale, the insider owned 51,665 shares in the company, valued at approximately $11,865,383.90. This represents a 11.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Conroy sold 49,205 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 134,349 shares in the company, valued at $30,830,408.52. The trade was a 26.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.10% of the stock is currently owned by corporate insiders.

About Ross Stores

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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