Premier Path Wealth Partners LLC Raises Position in Ross Stores, Inc. $ROST

Premier Path Wealth Partners LLC grew its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 26.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,406 shares of the apparel retailer’s stock after purchasing an additional 507 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Ross Stores were worth $307,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its stake in shares of Ross Stores by 50.7% during the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer’s stock worth $28,000 after purchasing an additional 73 shares during the period. Bayforest Capital Ltd lifted its stake in shares of Ross Stores by 372.5% during the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 190 shares during the period. Banque Transatlantique SA acquired a new position in shares of Ross Stores in the 1st quarter valued at $29,000. Ameritas Advisory Services LLC acquired a new position in shares of Ross Stores in the 2nd quarter valued at $38,000. Finally, Carderock Capital Management Inc. acquired a new position in shares of Ross Stores in the 2nd quarter valued at $48,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Insider Activity

In related news, insider Stephen C. Brinkley sold 6,437 shares of Ross Stores stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $150.97, for a total transaction of $971,793.89. Following the sale, the insider owned 57,012 shares of the company’s stock, valued at $8,607,101.64. The trade was a 10.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Karen Fleming sold 2,932 shares of Ross Stores stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $149.09, for a total transaction of $437,131.88. Following the sale, the chief marketing officer directly owned 88,335 shares in the company, valued at $13,169,865.15. This trade represents a 3.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 52,720 shares of company stock worth $7,761,212. Corporate insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ROST shares. JPMorgan Chase & Co. lifted their price target on shares of Ross Stores from $156.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 22nd. Robert W. Baird lifted their price target on shares of Ross Stores from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, August 22nd. Cowen reiterated a “buy” rating on shares of Ross Stores in a report on Friday, August 22nd. UBS Group lifted their price target on shares of Ross Stores from $144.00 to $147.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Finally, BTIG Research started coverage on shares of Ross Stores in a report on Tuesday, October 14th. They issued a “neutral” rating on the stock. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.67.

Ross Stores Stock Performance

NASDAQ:ROST opened at $158.92 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $51.69 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 3.04 and a beta of 1.18. The firm’s fifty day simple moving average is $151.89 and its 200 day simple moving average is $143.48. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $161.95.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.02. The business had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.54 billion. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.59 EPS. As a group, equities research analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a dividend of $0.405 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $1.62 annualized dividend and a yield of 1.0%. Ross Stores’s payout ratio is 25.71%.

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.