Ross Stores, Inc. $ROST Shares Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Ross Stores, purchasing an additional 10,942 shares, bringing its total holdings to 243,126 shares valued at approximately $31 million.
• Ross Stores reported earnings of $1.56 per share for the last quarter, exceeding analyst expectations, alongside a year-over-year revenue increase of 4.6%.
• The company recently announced a quarterly dividend of $0.405, reflecting an annual yield of 1.1% and a payout ratio of 25.71%.

Aberdeen Group plc boosted its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,126 shares of the apparel retailer's stock after purchasing an additional 10,942 shares during the period. Aberdeen Group plc owned approximately 0.07% of Ross Stores worth $31,018,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its holdings in Ross Stores by 50.7% in the 1st 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 in the last quarter. Banque Transatlantique SA acquired a new stake in shares of Ross Stores during the first quarter valued at about $29,000. Bayforest Capital Ltd grew its stake in shares of Ross Stores by 372.5% during the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock valued at $31,000 after acquiring an additional 190 shares in the last quarter. Tradewinds Capital Management LLC grew its stake in shares of Ross Stores by 36.6% during the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock valued at $36,000 after acquiring an additional 75 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Ross Stores during the second quarter valued at about $38,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Stock Down 1.5%

Shares of Ross Stores stock opened at $147.71 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. The firm has a market cap of $48.04 billion, a P/E ratio of 23.45, a P/E/G ratio of 2.84 and a beta of 1.18. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $158.69. The business has a 50-day moving average price of $148.57 and a 200 day moving average price of $140.96.

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 for the quarter, beating the consensus estimate of $1.54 by $0.02. The firm had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.54 billion. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.Ross Stores's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.59 earnings per share. On average, sell-side analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, September 9th. Ross Stores's payout ratio is presently 25.71%.

Insider Buying and Selling

In other Ross Stores news, CMO Karen Sykes sold 4,000 shares of Ross Stores stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total value of $607,040.00. Following the completion of the transaction, the chief marketing officer directly owned 106,413 shares in the company, valued at $16,149,236.88. The trade was a 3.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen C. Brinkley sold 6,437 shares of Ross Stores stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $150.97, for a total value of $971,793.89. Following the completion of the transaction, the insider owned 57,012 shares of the company's stock, valued at approximately $8,607,101.64. The trade was a 10.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,720 shares of company stock valued at $7,761,212. 2.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. UBS Group raised their target price on Ross Stores from $144.00 to $147.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Telsey Advisory Group restated a "market perform" rating and set a $160.00 target price (up from $150.00) on shares of Ross Stores in a research note on Monday, August 18th. Robert W. Baird raised their target price on Ross Stores from $160.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, August 22nd. Weiss Ratings restated a "buy (b-)" rating on shares of Ross Stores in a research note on Saturday, September 27th. Finally, Wells Fargo & Company raised their target price on Ross Stores from $165.00 to $175.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $160.67.

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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