Valley Wealth Managers Inc. Reduces Position in Ross Stores, Inc. (NASDAQ:ROST)

Valley Wealth Managers Inc. lessened its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 0.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 133,345 shares of the apparel retailer’s stock after selling 320 shares during the quarter. Ross Stores accounts for about 1.5% of Valley Wealth Managers Inc.’s portfolio, making the stock its 25th largest position. Valley Wealth Managers Inc.’s holdings in Ross Stores were worth $20,070,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ross Stores during the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. boosted its holdings in shares of Ross Stores by 262.1% in 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 during the period. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Ross Stores in the second quarter valued at approximately $32,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Ross Stores in the third quarter valued at approximately $33,000. Finally, Crewe Advisors LLC boosted its holdings in shares of Ross Stores by 97.8% in 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 during the period. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ROST shares. Bank of America boosted their price objective on shares of Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley boosted their price objective on shares of Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Wells Fargo & Company reduced their price objective on shares of Ross Stores from $175.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday. Loop Capital boosted their price objective on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, TD Cowen upped their price target on Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $170.00.

Ross Stores Price Performance

Shares of ROST stock traded up $0.15 during mid-day trading on Friday, hitting $142.48. 286,514 shares of the stock were exchanged, compared to its average volume of 2,260,562. The firm has a fifty day moving average of $146.37 and a 200 day moving average of $144.04. 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 52-week low of $119.73 and a 52-week high of $163.60. The company has a market cap of $47.27 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 2.31 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results 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. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. Ross Stores’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $1.32 EPS. Research analysts anticipate that Ross Stores, Inc. will post 6.12 earnings per share for the current year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were paid a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Tuesday, September 10th. Ross Stores’s dividend payout ratio is presently 23.71%.

Insider Buying and Selling at Ross Stores

In other news, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 103,049 shares in the company, valued at $16,038,546.36. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the sale, the chief executive officer now owns 311,853 shares of the company’s stock, valued at $48,003,532.29. This represents a 13.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,138 shares of company stock worth $11,093,051. Insiders own 2.10% of the company’s stock.

Ross Stores Company Profile

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.