Ross Stores, Inc. $ROST Shares Purchased by ProShare Advisors LLC

Key Points

• ProShare Advisors increased its Ross Stores stake by 3.6% in the third quarter, bringing its holdings to 374,200 shares valued at approximately $87.3 million. Institutional investors collectively own 86.86% of the company.
• Analysts remain broadly optimistic, with Ross Stores receiving a consensus “Moderate Buy” rating and an average price target of $272.06. Recent targets from major firms range from $279 to $294.
• Ross Stores reported strong quarterly results, posting $2.66 in earnings per share and $6.26 billion in revenue, exceeding estimates and marking 13.3% year-over-year revenue growth. The company also pays a quarterly dividend of $0.445 per share, equivalent to a 0.8% annual yield.

ProShare Advisors LLC grew its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 3.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,200 shares of the apparel retailer's stock after purchasing an additional 12,913 shares during the quarter. ProShare Advisors LLC owned about 0.12% of Ross Stores worth $87,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vise Technologies Inc. increased its holdings in Ross Stores by 30.6% in the third quarter. Vise Technologies Inc. now owns 21,934 shares of the apparel retailer's stock worth $5,119,000 after purchasing an additional 5,143 shares in the last quarter. Avestar Capital LLC boosted its holdings in shares of Ross Stores by 66.0% during the 3rd quarter. Avestar Capital LLC now owns 3,787 shares of the apparel retailer's stock worth $884,000 after buying an additional 1,506 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Ross Stores by 13.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,356 shares of the apparel retailer's stock worth $316,000 after buying an additional 163 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Ross Stores by 1,483.0% during the 3rd quarter. International Assets Investment Management LLC now owns 35,000 shares of the apparel retailer's stock worth $8,169,000 after buying an additional 32,789 shares in the last quarter. Finally, Glenview Trust Co grew its position in shares of Ross Stores by 6.9% during the 3rd quarter. Glenview Trust Co now owns 89,103 shares of the apparel retailer's stock worth $20,797,000 after buying an additional 5,786 shares during the period. Institutional investors own 86.86% of the company's stock.

Wall Street Analysts Forecast Growth

ROST has been the subject of several research analyst reports. Citigroup lifted their price objective on shares of Ross Stores from $270.00 to $290.00 and gave the company a "buy" rating in a research note 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 target price on the stock. Zacks Research raised shares of Ross Stores from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $294.00 price target on shares of Ross Stores in a report on Friday, August 21st. Finally, Evercore set a $290.00 price target on shares of Ross Stores in a research note on Friday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $272.06.

Ross Stores Price Performance

ROST stock opened at $228.28 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.61. The business has a 50-day simple moving average of $231.17 and a two-hundred day simple moving average of $222.06. The company has a market capitalization of $72.92 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 2.04 and a beta of 0.85. Ross Stores, Inc. has a 52-week low of $157.39 and a 52-week high of $257.00.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping 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 firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same period in the prior year, the business posted $1.56 earnings per share. The company's quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts expect that Ross Stores, Inc. will post 8.15 EPS for the current fiscal year.

Ross Stores Announces Dividend

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

Insider Buying and Selling at Ross Stores

In other Ross Stores news, CEO James Conroy sold 49,205 shares of Ross Stores stock in a transaction on 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 transaction, the chief executive officer directly owned 134,349 shares of the company's stock, valued at $30,830,408.52. The trade was a 26.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen C. Brinkley sold 6,424 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $11,865,383.90. The trade was a 11.06% decrease in their position. The SEC filing for this sale provides additional information. 2.10% of the stock is currently owned by company insiders.

Ross Stores 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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