Sage Rhino Capital LLC Acquires 1,915 Shares of Ross Stores, Inc. $ROST

Key Points

• Sage Rhino Capital LLC acquired 1,915 additional shares of Ross Stores, Inc., increasing its holdings by 20.7% to a total of 11,154 shares, valued at approximately $1.42 million.
• Multiple institutional investors increased their stakes in Ross Stores during the second quarter, with the State of Alaska Department of Revenue raising its holdings by 26.6% to own nearly 49,000 shares.
• Ross Stores announced a quarterly dividend of $0.405 per share, with an annualized yield of 1.1% and a payout ratio of 25.71%.

Sage Rhino Capital LLC lifted its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 20.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,154 shares of the apparel retailer's stock after buying an additional 1,915 shares during the quarter. Sage Rhino Capital LLC's holdings in Ross Stores were worth $1,423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ROST. Valicenti Advisory Services Inc. raised its stake in shares of Ross Stores by 1.1% in the second quarter. Valicenti Advisory Services Inc. now owns 10,807 shares of the apparel retailer's stock worth $1,379,000 after acquiring an additional 114 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Ross Stores by 11.0% in the second quarter. Signaturefd LLC now owns 6,792 shares of the apparel retailer's stock valued at $866,000 after purchasing an additional 674 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Ross Stores by 26.6% in the second quarter. State of Alaska Department of Revenue now owns 48,933 shares of the apparel retailer's stock valued at $6,241,000 after purchasing an additional 10,270 shares in the last quarter. NovaPoint Capital LLC raised its position in Ross Stores by 5.1% in the 2nd quarter. NovaPoint Capital LLC now owns 29,059 shares of the apparel retailer's stock worth $3,707,000 after purchasing an additional 1,419 shares during the last quarter. Finally, Patton Fund Management Inc. acquired a new position in Ross Stores during the 2nd quarter worth $201,000. Institutional investors and hedge funds own 86.86% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ROST shares. Barclays lifted their target price on Ross Stores from $156.00 to $164.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Robert W. Baird boosted their price objective on Ross Stores from $160.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, August 22nd. Cowen restated a "buy" rating on shares of Ross Stores in a research report on Friday, August 22nd. Telsey Advisory Group reiterated a "market perform" rating and set a $160.00 price target (up previously from $150.00) on shares of Ross Stores in a research report on Monday, August 18th. Finally, Morgan Stanley boosted their price target on shares of Ross Stores from $128.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Friday, August 22nd. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $160.67.

Insider Transactions at Ross Stores

In related news, CMO Karen Sykes sold 4,000 shares of the business's 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 approximately $16,149,236.88. The trade was a 3.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Grant Conroy sold 39,351 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $146.00, for a total value of $5,745,246.00. Following the sale, the chief executive officer directly owned 157,153 shares of the company's stock, valued at approximately $22,944,338. The trade was a 20.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

Ross Stores Stock Up 1.4%

Ross Stores stock opened at $151.52 on Friday. The firm has a market capitalization of $49.28 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 2.91 and a beta of 1.15. The company's 50 day simple moving average is $145.69 and its 200 day simple moving average is $139.06. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $158.69.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS 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 the consensus estimate of $5.54 billion. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The business's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 earnings per share. As a group, sell-side analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be 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 of this dividend is Tuesday, September 9th. Ross Stores's payout ratio is presently 25.71%.

Ross Stores Company Profile

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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