SteelPeak Wealth LLC Sells 250 Shares of Ross Stores, Inc. (NASDAQ:ROST)

SteelPeak Wealth LLC lowered its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 10.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,117 shares of the apparel retailer’s stock after selling 250 shares during the period. SteelPeak Wealth LLC’s holdings in Ross Stores were worth $319,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Ross Stores by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 28,916,192 shares of the apparel retailer’s stock worth $4,243,740,000 after acquiring an additional 346,474 shares during the last quarter. Victory Capital Management Inc. grew its position in Ross Stores by 11.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,310,364 shares of the apparel retailer’s stock worth $481,062,000 after acquiring an additional 347,006 shares during the last quarter. Legal & General Group Plc grew its position in Ross Stores by 10.3% during the 2nd quarter. Legal & General Group Plc now owns 2,737,042 shares of the apparel retailer’s stock worth $397,747,000 after acquiring an additional 254,720 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Ross Stores by 15.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,477,142 shares of the apparel retailer’s stock worth $359,991,000 after acquiring an additional 331,996 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Ross Stores by 68.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 2,391,856 shares of the apparel retailer’s stock worth $347,585,000 after acquiring an additional 975,190 shares during the last quarter. Institutional investors own 86.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Telsey Advisory Group restated a “market perform” rating and set a $175.00 price objective on shares of Ross Stores in a research report on Tuesday. Robert W. Baird upped their price target on Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. UBS Group upped their price target on Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Morgan Stanley upped their price target on Ross Stores from $163.00 to $178.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Bank of America upped their price target on Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $169.71.

Ross Stores Stock Up 0.1 %

ROST stock opened at $139.72 on Friday. The stock’s 50 day simple moving average is $148.57 and its 200 day simple moving average is $143.47. Ross Stores, Inc. has a fifty-two week low of $114.06 and a fifty-two week high of $163.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. The company has a market cap of $46.35 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.26 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same period in the prior year, the business earned $1.32 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts expect that Ross Stores, Inc. will post 6.2 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were paid a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Tuesday, September 10th. Ross Stores’s dividend payout ratio (DPR) is presently 23.71%.

Insider Transactions at Ross Stores

In other news, COO Michael J. Hartshorn sold 8,366 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the sale, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at $16,038,546.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Michael J. Hartshorn sold 8,366 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the sale, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at $16,038,546.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the completion of the transaction, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at approximately $48,003,532.29. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,138 shares of company stock valued at $11,093,051 over the last ninety days. 2.10% of the stock is currently owned by insiders.

About Ross Stores

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.