Vest Financial LLC Purchases 9,685 Shares of Ross Stores, Inc. $ROST

Key Points

• Vest Financial increased its Ross Stores stake by 2.9% in the third quarter, adding 9,685 shares to own 346,589 shares valued at approximately $80.9 million. Institutional investors and hedge funds collectively own 86.86% of the company.
• Analyst sentiment remains favorable, with Ross Stores holding a consensus “Moderate Buy” rating and an average price target of $264.61, compared with a share price of $234.18.
• Ross Stores reported strong quarterly results, posting $2.66 in EPS on $6.26 billion in revenue, exceeding estimates and marking 13.3% year-over-year revenue growth. The company also declared a quarterly dividend of $0.445 per share, or $1.78 annually.

Vest Financial LLC grew its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 346,589 shares of the apparel retailer's stock after purchasing an additional 9,685 shares during the quarter. Ross Stores comprises about 0.8% of Vest Financial LLC's portfolio, making the stock its 23rd biggest position. Vest Financial LLC owned approximately 0.11% of Ross Stores worth $80,894,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AMG Asset Management Group Inc. bought a new stake in Ross Stores in the third quarter worth approximately $269,000. Axxcess Wealth Management LLC bought a new position in shares of Ross Stores during the 3rd quarter worth approximately $314,000. Crossmark Global Holdings Inc. boosted its holdings in shares of Ross Stores by 3.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 41,476 shares of the apparel retailer's stock worth $9,680,000 after buying an additional 1,536 shares in the last quarter. LifeWealth Investments LLC grew its position in shares of Ross Stores by 7.7% during the 3rd quarter. LifeWealth Investments LLC now owns 1,379 shares of the apparel retailer's stock worth $322,000 after buying an additional 99 shares during the period. Finally, Capstone Capital Management Ltd grew its position in shares of Ross Stores by 26.0% during the 3rd quarter. Capstone Capital Management Ltd now owns 4,654 shares of the apparel retailer's stock worth $1,086,000 after buying an additional 960 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ROST has been the subject of several research analyst reports. UBS Group lifted their price objective on shares of Ross Stores from $232.00 to $239.00 and gave the company a "neutral" rating in a research note on Friday, August 21st. Jefferies Financial Group boosted their target price on Ross Stores from $265.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, August 21st. Wells Fargo & Company upped their price target on Ross Stores from $245.00 to $248.00 and gave the stock an "equal weight" rating in a research note on Friday, August 21st. Weiss Ratings upgraded Ross Stores from a "buy (b)" rating to a "buy (a-)" rating in a report on Friday, October 16th. Finally, Evercore set a $290.00 price objective on Ross Stores in a research note on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $264.61.

Ross Stores Price Performance

Shares of NASDAQ:ROST opened at $234.18 on Thursday. Ross Stores, Inc. has a fifty-two week low of $154.87 and a fifty-two week high of $257.00. The company's 50-day moving average is $231.92 and its 200 day moving average is $229.93. The company has a market capitalization of $74.81 billion, a P/E ratio of 28.35, a price-to-earnings-growth ratio of 1.99 and a beta of 0.83. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.61.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.71. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. The business'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. On average, equities research analysts forecast that Ross Stores, Inc. will post 8.15 earnings per share for the current year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th were issued a $0.4450 dividend. 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 (DPR) is presently 21.55%.

Insider Activity

In other news, CEO James Conroy sold 49,205 shares of the company's stock in a transaction dated Monday, September 14th. The stock was 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 in the company, valued at $30,830,408.52. This represents a 26.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Stephen Brinkley sold 6,424 shares of the firm's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the completion of the transaction, the insider directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is 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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