Algert Global LLC Buys 26,598 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Algert Global LLC grew its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 917.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,498 shares of the apparel retailer’s stock after buying an additional 26,598 shares during the quarter. Algert Global LLC’s holdings in Ross Stores were worth $4,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. PGGM Investments boosted its position in Ross Stores by 724.1% in the second quarter. PGGM Investments now owns 24,848 shares of the apparel retailer’s stock worth $3,611,000 after purchasing an additional 21,833 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Ross Stores by 47.5% in the second quarter. Diversified Trust Co now owns 13,124 shares of the apparel retailer’s stock worth $1,907,000 after buying an additional 4,228 shares during the last quarter. Janus Henderson Group PLC grew its position in Ross Stores by 42.1% during the first quarter. Janus Henderson Group PLC now owns 63,105 shares of the apparel retailer’s stock valued at $9,260,000 after buying an additional 18,685 shares during the period. Legal & General Group Plc increased its holdings in Ross Stores by 10.3% during the second quarter. Legal & General Group Plc now owns 2,737,042 shares of the apparel retailer’s stock valued at $397,747,000 after buying an additional 254,720 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its position in Ross Stores by 7.8% in the third quarter. Stephens Investment Management Group LLC now owns 144,310 shares of the apparel retailer’s stock worth $21,720,000 after acquiring an additional 10,384 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Ross Stores from $175.00 to $165.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. StockNews.com lowered Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Morgan Stanley raised their price objective on Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Telsey Advisory Group reiterated a “market perform” rating and set a $175.00 price objective on shares of Ross Stores in a research note on Monday, November 18th. Finally, TD Cowen reduced their target price on shares of Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ross Stores presently has an average rating of “Moderate Buy” and a consensus target price of $171.69.

Ross Stores Stock Up 2.2 %

Shares of ROST stock opened at $146.09 on Monday. The stock has a market cap of $48.47 billion, a P/E ratio of 23.01, a PEG ratio of 2.44 and a beta of 1.09. The company’s fifty day simple moving average is $145.14 and its two-hundred day simple moving average is $144.70. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. Ross Stores, Inc. has a 52 week low of $127.53 and a 52 week high of $163.60.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.07. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. Analysts predict that Ross Stores, Inc. will post 6.13 EPS for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Tuesday, December 10th. Ross Stores’s payout ratio is 23.15%.

Insider Buying and Selling at Ross Stores

In related news, Chairman Michael Balmuth sold 14,887 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the sale, the chairman now owns 11,133 shares in the company, valued at approximately $1,694,665.26. This represents a 57.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction 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 owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,138 shares of company stock worth $11,093,051 over the last 90 days. 2.10% of the stock is 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.