Kerusso Capital Management LLC Raises Stake in Ross Stores, Inc. (NASDAQ:ROST)

Kerusso Capital Management LLC raised its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 6.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,526 shares of the apparel retailer’s stock after purchasing an additional 881 shares during the quarter. Kerusso Capital Management LLC’s holdings in Ross Stores were worth $2,186,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new position in Ross Stores during the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. lifted its holdings in Ross Stores by 262.1% during the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Ross Stores during the second quarter valued at approximately $32,000. Armstrong Advisory Group Inc. purchased a new position in Ross Stores during the third quarter valued at approximately $33,000. Finally, Crewe Advisors LLC lifted its holdings in Ross Stores by 97.8% during the second quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock valued at $40,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Insider Transactions at Ross Stores

In other news, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the transaction, the chief operating officer now directly owns 103,049 shares in the company, valued at approximately $16,038,546.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the transaction, the chief operating officer now directly owns 103,049 shares in the company, valued at approximately $16,038,546.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Michael Balmuth sold 14,887 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was 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 of the company’s stock, valued at approximately $1,694,665.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,138 shares of company stock worth $11,093,051. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Bank of America boosted their target price on shares of Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Morgan Stanley boosted 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. Gordon Haskett raised shares of Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. Loop Capital boosted their target price on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Barclays boosted their target price on shares of Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $171.88.

Ross Stores Trading Up 1.0 %

ROST stock opened at $143.40 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. Ross Stores, Inc. has a twelve month low of $119.73 and a twelve month high of $163.60. The stock has a market capitalization of $47.57 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 2.25 and a beta of 1.09. The firm’s fifty day simple moving average is $147.21 and its two-hundred day simple moving average is $143.80.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the previous year, the business posted $1.32 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts anticipate that Ross Stores, Inc. will post 6.2 earnings per share for the current year.

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were given a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Tuesday, September 10th. Ross Stores’s dividend payout ratio (DPR) is 23.71%.

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.