Jain Global LLC Takes Position in Ross Stores, Inc. $ROST

Jain Global LLC bought a new stake in Ross Stores, Inc. (NASDAQ:ROST) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 187,418 shares of the apparel retailer’s stock, valued at approximately $28,561,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. American National Bank & Trust bought a new position in shares of Ross Stores during the 3rd quarter worth about $26,000. Grey Fox Wealth Advisors LLC bought a new stake in Ross Stores in the third quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. increased its stake in Ross Stores by 162.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer’s stock valued at $36,000 after acquiring an additional 148 shares during the period. True Wealth Design LLC raised its position in Ross Stores by 152.0% in the third quarter. True Wealth Design LLC now owns 257 shares of the apparel retailer’s stock worth $39,000 after purchasing an additional 155 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in Ross Stores in the second quarter worth about $38,000. Institutional investors own 86.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ROST shares. Guggenheim lifted their price objective on Ross Stores from $199.00 to $226.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Barclays increased their target price on Ross Stores from $205.00 to $221.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. raised their target price on Ross Stores from $215.00 to $232.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Zacks Research lowered Ross Stores from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, Wells Fargo & Company upped their price target on Ross Stores from $205.00 to $235.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ross Stores has a consensus rating of “Moderate Buy” and an average price target of $208.29.

Ross Stores Price Performance

NASDAQ:ROST opened at $206.28 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.58 and a debt-to-equity ratio of 0.16. The firm has a market cap of $66.72 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 2.81 and a beta of 0.97. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $216.80. The company’s 50-day moving average price is $196.31 and its two-hundred day moving average price is $174.57.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Tuesday, March 3rd. The apparel retailer reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.10. Ross Stores had a net margin of 9.43% and a return on equity of 36.70%. The company had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same quarter last year, the business posted $1.65 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. On average, equities analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.78 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.41. Ross Stores’s payout ratio is 26.93%.

Insiders Place Their Bets

In other Ross Stores news, Director Patricia H. Mueller sold 1,881 shares of Ross Stores stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $213.13, for a total value of $400,897.53. Following the completion of the transaction, the director owned 2,159 shares in the company, valued at approximately $460,147.67. The trade was a 46.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Karen Sykes sold 2,556 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $213.91, for a total value of $546,753.96. Following the completion of the transaction, the chief marketing officer directly owned 103,945 shares in the company, valued at approximately $22,234,874.95. This represents a 2.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.20% of the company’s stock.

About Ross Stores

Ross Stores, Inc (NASDAQ: ROST) is an American off?price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand?name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.