Raymond James Financial Services Advisors Inc. Buys 742 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Posted by on May 15th, 2023

Raymond James Financial Services Advisors Inc. grew its holdings in Ross Stores, Inc. (NASDAQ:ROST – Get Rating) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 108,472 shares of the apparel retailer’s stock after purchasing an additional 742 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Ross Stores were worth $12,591,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ROST. Accurate Wealth Management LLC acquired a new stake in shares of Ross Stores in the 4th quarter valued at approximately $25,000. Arlington Partners LLC acquired a new stake in shares of Ross Stores in the 4th quarter valued at approximately $28,000. Capital Directions Investment Advisors LLC acquired a new stake in shares of Ross Stores in the 4th quarter valued at approximately $30,000. General Partner Inc. acquired a new stake in shares of Ross Stores in the 4th quarter valued at approximately $39,000. Finally, CVA Family Office LLC raised its position in shares of Ross Stores by 38.3% in the 3rd quarter. CVA Family Office LLC now owns 650 shares of the apparel retailer’s stock valued at $55,000 after acquiring an additional 180 shares during the period. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ROST. Loop Capital upgraded shares of Ross Stores from a “hold” rating to a “buy” rating and increased their price target for the company from $105.00 to $115.00 in a research report on Wednesday, March 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Ross Stores from $121.00 to $120.00 in a report on Wednesday, March 1st. Robert W. Baird raised their target price on shares of Ross Stores from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, March 1st. Credit Suisse Group restated an “outperform” rating and set a $123.00 target price on shares of Ross Stores in a report on Wednesday, March 1st. Finally, StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.53.

Ross Stores Stock Up 1.9 %

ROST opened at $104.51 on Monday. Ross Stores, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $122.44. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.34 and a current ratio of 1.90. The company has a market capitalization of $35.75 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.02 and a beta of 0.97. The stock has a fifty day moving average of $104.68 and a 200-day moving average of $109.61.

Ross Stores (NASDAQ:ROST – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The apparel retailer reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.08. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.14 billion. Ross Stores had a return on equity of 36.40% and a net margin of 8.09%. Ross Stores’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 earnings per share. On average, equities analysts expect that Ross Stores, Inc. will post 4.94 EPS for the current year.

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Tuesday, March 14th were paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Monday, March 13th. This is an increase from Ross Stores’s previous quarterly dividend of $0.31. Ross Stores’s payout ratio is 30.52%.

Insider Activity at Ross Stores

In related news, insider Michael K. Kobayashi sold 12,221 shares of the business’s stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of $106.00, for a total value of $1,295,426.00. Following the completion of the transaction, the insider now owns 96,486 shares of the company’s stock, valued at $10,227,516. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Ross Stores news, COO Michael J. Hartshorn sold 20,529 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $112.37, for a total transaction of $2,306,843.73. Following the completion of the transaction, the chief operating officer now owns 127,659 shares of the company’s stock, valued at $14,345,041.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael K. Kobayashi sold 12,221 shares of the business’s stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of $106.00, for a total value of $1,295,426.00. Following the transaction, the insider now directly owns 96,486 shares of the company’s stock, valued at approximately $10,227,516. The disclosure for this sale can be found here. Insiders sold a total of 36,047 shares of company stock valued at $3,947,565 over the last quarter. 1.90% of the stock is owned by corporate insiders.

Ross Stores Company Profile

(Get Rating)

Ross Stores, Inc engages in the operation of off-price retail apparel and home accessories stores. Its products include branded and designer apparel, accessories, footwear, and home fashions through the Dress for Less and dd’s DISCOUNTS brands. The company was founded by Stuart G. Moldaw in 1957 and is headquartered in Dublin, CA.

Featured Stories

Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST – Get Rating).

Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.