Nwam LLC Boosts Stake in Ross Stores, Inc. (NASDAQ:ROST)

Nwam LLC raised its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 16.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,651 shares of the apparel retailer’s stock after buying an additional 229 shares during the period. Nwam LLC’s holdings in Ross Stores were worth $248,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ROST. Charles Schwab Investment Management Inc. boosted its holdings in Ross Stores by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,899,271 shares of the apparel retailer’s stock valued at $285,859,000 after acquiring an additional 12,962 shares during the period. Banco Santander S.A. bought a new stake in shares of Ross Stores during the third quarter worth $7,188,000. Intech Investment Management LLC boosted its stake in shares of Ross Stores by 63.1% during the third quarter. Intech Investment Management LLC now owns 15,120 shares of the apparel retailer’s stock valued at $2,276,000 after purchasing an additional 5,848 shares during the period. Cornerstone Advisors LLC grew its holdings in shares of Ross Stores by 21.6% in the third quarter. Cornerstone Advisors LLC now owns 14,100 shares of the apparel retailer’s stock worth $2,122,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Bellwether Advisors LLC lifted its holdings in Ross Stores by 66.6% during the 3rd quarter. Bellwether Advisors LLC now owns 23,628 shares of the apparel retailer’s stock valued at $3,556,000 after buying an additional 9,444 shares in the last quarter. Institutional investors own 86.86% of the company’s stock.

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 8,366 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now directly owns 103,049 shares in the company, valued at $16,038,546.36. The trade was a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Michael Balmuth sold 14,887 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the completion of the sale, the chairman now directly owns 11,133 shares in the company, valued at approximately $1,694,665.26. The trade was a 57.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Ross Stores Trading Up 4.9 %

Shares of NASDAQ:ROST opened at $153.29 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The firm has a market capitalization of $50.86 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.44 and a beta of 1.09. The business’s 50-day moving average is $145.14 and its 200 day moving average is $144.83. Ross Stores, Inc. has a 1 year low of $127.53 and a 1 year high of $163.60.

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

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Tuesday, December 10th. Ross Stores’s payout ratio is 23.15%.

Analyst Ratings Changes

ROST has been the topic of a number of research reports. Bank of America raised their target price on shares of Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. Citigroup lowered Ross Stores from a “buy” rating to a “neutral” rating and cut their price target for the company from $179.00 to $152.00 in a research note on Tuesday, November 12th. Morgan Stanley increased their target price on shares of Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ross Stores from $171.00 to $173.00 and gave the company an “overweight” rating in a report on Friday. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $171.69.

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.