Ross Stores, Inc. $ROST Stock Position Lifted by Vise Technologies Inc.

Vise Technologies Inc. increased its position in Ross Stores, Inc. (NASDAQ:ROST) by 30.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 21,934 shares of the apparel retailer’s stock after purchasing an additional 5,143 shares during the period. Vise Technologies Inc.’s holdings in Ross Stores were worth $5,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Ross Stores during the second quarter valued at about $5,938,711,000. Bank of America Corp DE purchased a new stake in shares of Ross Stores during the second quarter worth about $2,024,203,000. Primecap Management Co. CA purchased a new stake in shares of Ross Stores during the second quarter worth about $1,937,995,000. Wellington Management Group LLP grew its stake in shares of Ross Stores by 89.2% in the second quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer’s stock worth $1,408,148,000 after purchasing an additional 3,118,591 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Ross Stores in the second quarter worth about $476,200,000. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Trading Up 0.4%

NASDAQ:ROST opened at $231.60 on Wednesday. The company has a 50-day moving average price of $230.80 and a 200-day moving average price of $222.45. The stock has a market cap of $73.98 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 2.06 and a beta of 0.85. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. Ross Stores, Inc. has a 12 month low of $157.73 and a 12 month high of $257.00.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.71. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter in the previous year, the company earned $1.56 earnings per share. Ross Stores’s quarterly revenue was up 13.3% on a year-over-year basis. Equities analysts predict that Ross Stores, Inc. will post 8.15 EPS for the current year.

Ross Stores Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ROST shares. Jefferies Financial Group boosted their price target on Ross Stores from $265.00 to $285.00 and gave the company a “buy” rating in a report on Friday, August 21st. Wall Street Zen upgraded Ross Stores from a “hold” rating to a “buy” rating in a research report on Sunday. Wells Fargo & Company lifted their price objective on Ross Stores from $245.00 to $248.00 and gave the stock an “equal weight” rating in a research report on Friday, August 21st. Citigroup boosted their target price on Ross Stores from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Finally, Truist Financial upped their target price on Ross Stores from $290.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $272.06.

Insider Activity at Ross Stores

In other news, insider Stephen C. Brinkley sold 6,424 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was 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 of the company’s stock, valued at approximately $11,865,383.90. This represents a 11.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Conroy sold 49,205 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $229.48, for a total value of $11,291,563.40. Following the completion of the transaction, the chief executive officer owned 134,349 shares of the company’s stock, 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. Insiders own 2.10% of the company’s stock.

Ross Stores Company Profile

Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.

Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.

Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.