Fulcrum Asset Management LLP Buys 12,221 Shares of Ross Stores, Inc. $ROST

Fulcrum Asset Management LLP increased its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 106.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,651 shares of the apparel retailer’s stock after buying an additional 12,221 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Ross Stores were worth $5,544,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ROST. Net Worth Advisory Group increased its position in Ross Stores by 4.2% in the third quarter. Net Worth Advisory Group now owns 1,047 shares of the apparel retailer’s stock worth $245,000 after buying an additional 42 shares during the period. Greenleaf Trust boosted its holdings in shares of Ross Stores by 0.9% during the second quarter. Greenleaf Trust now owns 6,026 shares of the apparel retailer’s stock valued at $1,283,000 after acquiring an additional 51 shares during the period. Cooper Financial Group grew its position in shares of Ross Stores by 2.8% during the second quarter. Cooper Financial Group now owns 1,919 shares of the apparel retailer’s stock worth $409,000 after acquiring an additional 52 shares during the last quarter. RFG Advisory LLC grew its position in shares of Ross Stores by 3.8% during the second quarter. RFG Advisory LLC now owns 1,430 shares of the apparel retailer’s stock worth $304,000 after acquiring an additional 52 shares during the last quarter. Finally, Eastern Bank grew its position in shares of Ross Stores by 0.5% during the third quarter. Eastern Bank now owns 10,557 shares of the apparel retailer’s stock worth $2,464,000 after acquiring an additional 57 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Stephen Brinkley sold 6,424 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $229.66, for a total value of $1,475,335.84. Following the completion of the transaction, the insider owned 51,665 shares in the company, valued at $11,865,383.90. This represents a 11.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James Conroy sold 49,205 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $229.48, for a total transaction of $11,291,563.40. Following the transaction, the chief executive officer directly owned 134,349 shares in the company, valued at approximately $30,830,408.52. The trade was a 26.81% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Trading Up 2.6%

Shares of ROST stock opened at $237.00 on Tuesday. 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, Inc. has a 1 year low of $157.73 and a 1 year high of $257.00. The stock has a fifty day moving average of $231.07 and a two-hundred day moving average of $223.35. The firm has a market capitalization of $75.71 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 2.19 and a beta of 0.85.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.71. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 earnings per share. As a group, research analysts expect that Ross Stores, Inc. will post 8.15 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th were issued a $0.4450 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.78 annualized dividend and a yield of 0.8%. Ross Stores’s dividend payout ratio is presently 21.55%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ROST shares. Zacks Research cut shares of Ross Stores from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 4th. Robert W. Baird boosted their target price on shares of Ross Stores from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, August 21st. Citigroup upped their target price on shares of Ross Stores from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Telsey Advisory Group upped their target price on shares of Ross Stores from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Finally, Barclays raised their price target on shares of Ross Stores from $260.00 to $298.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Ross Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.82.

Ross Stores Profile

Ross Stores, Inc is an off-price retailer operating Ross Dress for Less and dd’s DISCOUNTS. Its stores offer name-brand and designer merchandise at discounted prices, with product selection and availability varying by location and season.

Ross Dress for Less sells apparel, footwear, accessories, home fashions, furnishings, and other merchandise for the whole family. dd’s DISCOUNTS offers a similar off-price assortment, including clothing, shoes, home goods, and related products.

The company traces its origins to a department store founded in San Bruno, California, in 1950.