Ross Stores, Inc. $ROST Stake Raised by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP grew its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 106.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,651 shares of the apparel retailer's stock after acquiring an additional 12,221 shares during the period. Fulcrum Asset Management LLP's holdings in Ross Stores were worth $5,544,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ROST. Allspring Global Investments Holdings LLC raised its position in shares of Ross Stores by 9.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,759 shares of the apparel retailer's stock valued at $4,391,000 after purchasing an additional 1,553 shares in the last quarter. Beverly Hills Private Wealth LLC grew its position in shares of Ross Stores by 11.3% during the third quarter. Beverly Hills Private Wealth LLC now owns 2,243 shares of the apparel retailer's stock worth $524,000 after buying an additional 228 shares in the last quarter. American State Bank Iowa grew its position in shares of Ross Stores by 4.4% during the third quarter. American State Bank Iowa now owns 5,911 shares of the apparel retailer's stock worth $1,380,000 after buying an additional 249 shares in the last quarter. J. Derek Lewis & Associates Inc. grew its position in shares of Ross Stores by 3.5% during the third quarter. J. Derek Lewis & Associates Inc. now owns 2,364 shares of the apparel retailer's stock worth $552,000 after buying an additional 80 shares in the last quarter. Finally, Verus Capital Partners LLC bought a new stake in shares of Ross Stores in the third quarter worth $222,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Performance

ROST stock opened at $237.00 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The firm has a market cap of $75.71 billion, a P/E ratio of 28.69, a P/E/G ratio of 2.19 and a beta of 0.85. Ross Stores, Inc. has a 12-month low of $157.73 and a 12-month high of $257.00. The stock's 50 day simple moving average is $231.07 and its 200 day simple moving average is $223.35.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.71. The firm had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the business posted $1.56 earnings per share. As a group, equities research analysts predict 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. Shareholders of record on Tuesday, September 8th were issued a dividend of $0.4450 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 8th. Ross Stores's dividend payout ratio is 21.55%.

Insider Transactions at Ross Stores

In other news, insider Stephen Brinkley sold 6,424 shares of the firm's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $229.66, for a total value of $1,475,335.84. Following the transaction, the insider directly owned 51,665 shares in the company, valued at approximately $11,865,383.90. This trade represents a 11.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James Conroy sold 49,205 shares of Ross Stores stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 134,349 shares of the company's stock, valued at $30,830,408.52. This trade represents a 26.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on ROST. Sanford C. Bernstein upped their price target on shares of Ross Stores from $230.00 to $240.00 and gave the company a "market perform" rating in a report on Friday, August 21st. Evercore set a $290.00 price objective on shares of Ross Stores in a research note on Friday, August 21st. Telsey Advisory Group raised their price objective on shares of Ross Stores from $265.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Zacks Research downgraded shares of Ross Stores from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 4th. Finally, Citigroup upped their target price 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $277.82.

Ross Stores Profile

Ross Stores, Inc is an off-price retailer operating Ross Dress for Less and dd's DISCOUNTS. Its stores offer name-brand and designer merchandise at discounted prices, with product selection and availability varying by location and season.

Ross Dress for Less sells apparel, footwear, accessories, home fashions, furnishings, and other merchandise for the whole family. dd's DISCOUNTS offers a similar off-price assortment, including clothing, shoes, home goods, and related products.

The company traces its origins to a department store founded in San Bruno, California, in 1950.

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