Algert Global LLC Buys 26,598 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Algert Global LLC boosted its stake in Ross Stores, Inc. (NASDAQ:ROST) by 917.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,498 shares of the apparel retailer’s stock after purchasing an additional 26,598 shares during the quarter. Algert Global LLC’s holdings in Ross Stores were worth $4,440,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ROST. Kingsview Wealth Management LLC increased its stake in Ross Stores by 11.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 2,894 shares of the apparel retailer’s stock valued at $436,000 after purchasing an additional 302 shares in the last quarter. Cerity Partners LLC increased its position in shares of Ross Stores by 65.2% during the third quarter. Cerity Partners LLC now owns 83,214 shares of the apparel retailer’s stock worth $12,525,000 after acquiring an additional 32,846 shares in the last quarter. Nwam LLC raised its holdings in shares of Ross Stores by 16.1% in the 3rd quarter. Nwam LLC now owns 1,651 shares of the apparel retailer’s stock worth $248,000 after acquiring an additional 229 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Ross Stores by 0.7% in 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 in the last quarter. Finally, Banco Santander S.A. acquired a new position in Ross Stores during the 3rd quarter valued at about $7,188,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Insider Activity at Ross Stores

In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of the 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 owns 11,133 shares of the company’s stock, valued at $1,694,665.26. This represents a 57.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at approximately $48,003,532.29. This trade represents a 13.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,138 shares of company stock worth $11,093,051 in the last ninety days. 2.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ROST has been the subject of several analyst reports. TD Cowen lowered their price objective on Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Evercore ISI upped their target price on shares of Ross Stores from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday. StockNews.com lowered Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Bank of America upped their price objective on Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, UBS Group lifted their price target on shares of Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $171.69.

Ross Stores Price Performance

ROST opened at $146.09 on Monday. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $48.47 billion, a P/E ratio of 23.01, a PEG ratio of 2.44 and a beta of 1.09. The stock has a 50-day moving average price of $145.14 and a 200-day moving average price of $144.70. Ross Stores, Inc. has a 12-month low of $127.53 and a 12-month high of $163.60.

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

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Tuesday, December 10th. Ross Stores’s dividend payout ratio (DPR) is presently 23.15%.

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.