Stoneridge Investment Partners LLC Buys Shares of 10,543 Ross Stores, Inc. (NASDAQ:ROST)

Stoneridge Investment Partners LLC purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,543 shares of the apparel retailer’s stock, valued at approximately $1,587,000.

Other hedge funds also recently modified their holdings of the company. Norden Group LLC acquired a new position in Ross Stores during the 1st quarter valued at $333,000. Private Advisor Group LLC lifted its stake in shares of Ross Stores by 2.4% in the first quarter. Private Advisor Group LLC now owns 9,417 shares of the apparel retailer’s stock valued at $1,382,000 after buying an additional 220 shares during the period. Janney Montgomery Scott LLC grew its position in Ross Stores by 1.5% during the first quarter. Janney Montgomery Scott LLC now owns 37,077 shares of the apparel retailer’s stock worth $5,442,000 after buying an additional 535 shares in the last quarter. Financial Counselors Inc. increased its stake in Ross Stores by 2.7% during the first quarter. Financial Counselors Inc. now owns 4,032 shares of the apparel retailer’s stock valued at $592,000 after acquiring an additional 105 shares during the period. Finally, Whittier Trust Co. raised its holdings in Ross Stores by 11.0% in the 1st quarter. Whittier Trust Co. now owns 1,200 shares of the apparel retailer’s stock valued at $176,000 after acquiring an additional 119 shares in the last quarter. 86.86% of the stock is owned by institutional investors.

Ross Stores Trading Up 0.4 %

Shares of ROST opened at $140.66 on Tuesday. The stock has a fifty day moving average price of $147.99 and a two-hundred day moving average price of $143.72. 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 $46.67 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 2.27 and a beta of 1.09. Ross Stores, Inc. has a 52-week low of $119.73 and a 52-week high of $163.60.

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

Ross Stores Announces Dividend

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

Insider Buying and Selling at Ross Stores

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

Analyst Upgrades and Downgrades

ROST has been the topic of several recent research reports. StockNews.com raised Ross Stores from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Gordon Haskett upgraded shares of Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. UBS Group increased their price objective on shares of Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Wells Fargo & Company raised their price objective on shares of Ross Stores from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, TD Cowen upped their target price on shares of Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $171.88.

Ross Stores 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.