Ross Stores, Inc. $ROST Shares Sold by Diversify Advisory Services LLC

Diversify Advisory Services LLC reduced its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 30.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,048 shares of the apparel retailer's stock after selling 4,399 shares during the period. Diversify Advisory Services LLC's holdings in Ross Stores were worth $2,360,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Ross Stores during the 2nd quarter worth about $5,938,711,000. State Street Corp grew its stake in Ross Stores by 5.3% during the 2nd quarter. State Street Corp now owns 14,643,656 shares of the apparel retailer's stock valued at $3,116,902,000 after acquiring an additional 734,009 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Ross Stores in the 2nd quarter valued at about $2,024,203,000. Primecap Management Co. CA acquired a new position in shares of Ross Stores in the 2nd quarter valued at about $1,937,995,000. Finally, Wellington Management Group LLP increased its holdings in shares of Ross Stores by 89.2% in the 2nd quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer's stock valued at $1,408,148,000 after purchasing an additional 3,118,591 shares during the period. Institutional investors and hedge funds own 86.86% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on ROST shares. Truist Financial raised their price target on shares of Ross Stores from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, August 21st. Morgan Stanley increased their target price 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. Barclays boosted their price target on shares of Ross Stores from $260.00 to $298.00 and gave the company an "overweight" rating in a report on Friday, August 21st. Wolfe Research assumed coverage on Ross Stores in a research note on Wednesday. They issued an "outperform" rating and a $279.00 target price on the stock. Finally, Sanford C. Bernstein boosted their target price on shares of Ross Stores from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Friday, August 21st. Two investment 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. According to MarketBeat.com, Ross Stores presently has a consensus rating of "Moderate Buy" and a consensus target price of $264.61.

Ross Stores Stock Performance

Shares of NASDAQ ROST opened at $229.30 on Friday. The firm has a market capitalization 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, Inc. has a one year low of $156.41 and a one year high of $257.00. The business has a fifty day simple moving average of $231.44 and a 200 day simple moving average of $230.04. 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. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.16 billion. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $1.56 EPS. Sell-side analysts expect that Ross Stores, Inc. will post 8.15 EPS for the current year.

Ross Stores Dividend Announcement

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

Insider Transactions at Ross Stores

In other news, CEO James Conroy sold 49,205 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 134,349 shares of the company's stock, valued at $30,830,408.52. This represents a 26.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen C. Brinkley sold 6,424 shares of the business's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $229.66, for a total value of $1,475,335.84. Following 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. Insiders own 2.10% of the company's stock.

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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