Mercer Global Advisors Inc. ADV Has $843,000 Position in Ross Stores, Inc. (NASDAQ:ROST)

Posted by Defense World Staff on May 20th, 2023

Mercer Global Advisors Inc. ADV boosted its stake in shares of Ross Stores, Inc. (NASDAQ:ROST – Get Rating) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,266 shares of the apparel retailer’s stock after acquiring an additional 118 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Ross Stores were worth $843,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Accurate Wealth Management LLC acquired a new position in Ross Stores during the fourth quarter worth $25,000. Arlington Partners LLC acquired a new position in Ross Stores during the fourth quarter worth $28,000. Capital Directions Investment Advisors LLC acquired a new position in Ross Stores during the fourth quarter worth $30,000. General Partner Inc. acquired a new position in Ross Stores during the fourth quarter worth $39,000. Finally, CVA Family Office LLC raised its stake in Ross Stores by 38.3% during the third quarter. CVA Family Office LLC now owns 650 shares of the apparel retailer’s stock worth $55,000 after acquiring an additional 180 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Jeffrey P. Burrill sold 3,297 shares of Ross Stores stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $104.73, for a total transaction of $345,294.81. Following the transaction, the chief accounting officer now owns 23,148 shares in the company, valued at approximately $2,424,290.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Jeffrey P. Burrill sold 3,297 shares of Ross Stores stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $104.73, for a total transaction of $345,294.81. Following the transaction, the chief accounting officer now owns 23,148 shares in the company, valued at approximately $2,424,290.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael K. Kobayashi sold 12,221 shares of Ross Stores stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $106.00, for a total value of $1,295,426.00. Following the transaction, the insider now owns 96,486 shares in the company, valued at approximately $10,227,516. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,047 shares of company stock worth $3,947,565. Insiders own 2.00% of the company’s stock.

Ross Stores Price Performance

Shares of ROST opened at $104.76 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.34 and a debt-to-equity ratio of 0.57. Ross Stores, Inc. has a 1 year low of $69.24 and a 1 year high of $122.44. The stock has a market cap of $35.83 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 2.04 and a beta of 0.97. The stock’s 50-day moving average price is $104.29 and its two-hundred day moving average price is $109.72.

Ross Stores (NASDAQ:ROST – Get Rating) last issued its earnings results on Thursday, May 18th. The apparel retailer reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Ross Stores had a return on equity of 36.89% and a net margin of 8.19%. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter last year, the business earned $0.97 earnings per share. The company’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts predict that Ross Stores, Inc. will post 4.91 earnings per share for the current year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Tuesday, June 6th will be issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Monday, June 5th. Ross Stores’s dividend payout ratio (DPR) is currently 29.71%.

Wall Street Analysts Forecast Growth

ROST has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on Ross Stores from $123.00 to $124.00 and gave the company an “overweight” rating in a research note on Monday, April 3rd. Robert W. Baird lowered their target price on Ross Stores from $130.00 to $125.00 in a research note on Friday. StockNews.com initiated coverage on Ross Stores in a research note on Thursday. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft lowered their target price on Ross Stores from $121.00 to $120.00 in a research note on Wednesday, March 1st. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $120.00 target price on shares of Ross Stores in a research note on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.76.

About Ross Stores

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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.