Ross Stores, Inc. (NASDAQ:ROST) Shares Acquired by Raymond James Financial Services Advisors Inc.

Posted by Defense World Staff on Jun 30th, 2023

Raymond James Financial Services Advisors Inc. grew its holdings in Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 28.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 138,901 shares of the apparel retailer’s stock after buying an additional 30,429 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Ross Stores were worth $14,742,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ROST. Norges Bank purchased a new stake in shares of Ross Stores in the fourth quarter valued at about $369,081,000. Morgan Stanley grew its holdings in shares of Ross Stores by 84.6% in the fourth quarter. Morgan Stanley now owns 4,742,218 shares of the apparel retailer’s stock valued at $550,429,000 after purchasing an additional 2,173,922 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Ross Stores by 45.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,987,407 shares of the apparel retailer’s stock valued at $578,889,000 after purchasing an additional 1,557,688 shares during the period. Balyasny Asset Management LLC purchased a new stake in shares of Ross Stores in the third quarter valued at about $118,218,000. Finally, Marshall Wace LLP boosted its stake in Ross Stores by 874.6% during the fourth quarter. Marshall Wace LLP now owns 1,362,603 shares of the apparel retailer’s stock worth $158,157,000 after buying an additional 1,222,789 shares during the period. 86.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ROST shares. Piper Sandler started coverage on shares of Ross Stores in a research note on Thursday. They set a “neutral” rating and a $112.00 target price for the company. Barclays lowered their target price on shares of Ross Stores from $139.00 to $122.00 in a research note on Tuesday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of Ross Stores from $123.00 to $124.00 and gave the stock an “overweight” rating in a research note on Monday, April 3rd. Gordon Haskett lowered shares of Ross Stores from a “buy” rating to an “accumulate” rating and set a $120.00 target price for the company. in a research note on Monday. Finally, UBS Group raised their price objective on shares of Ross Stores from $77.00 to $78.00 in a research note on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.89.

Insider Activity at Ross Stores

In related news, insider Michael K. Kobayashi sold 12,221 shares of Ross Stores stock in a transaction on 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 directly owns 96,486 shares in the company, valued at approximately $10,227,516. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ross Stores news, insider Michael K. Kobayashi sold 12,221 shares of the business’s stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $106.00, for a total transaction of $1,295,426.00. Following the sale, the insider now directly owns 96,486 shares in the company, valued at approximately $10,227,516. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Barbara Rentler sold 11,866 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $102.54, for a total transaction of $1,216,739.64. Following the sale, the chief executive officer now owns 325,367 shares in the company, valued at $33,363,132.18. The disclosure for this sale can be found here. Insiders have sold a total of 54,087 shares of company stock worth $5,583,866 in the last three months. Insiders own 2.00% of the company’s stock.

Ross Stores Stock Up 0.5 %

ROST stock opened at $108.87 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.27 and a debt-to-equity ratio of 0.57. Ross Stores, Inc. has a twelve month low of $69.24 and a twelve month high of $122.44. The company’s 50 day moving average is $104.91 and its two-hundred day moving average is $109.50. The stock has a market cap of $37.24 billion, a P/E ratio of 24.14, a PEG ratio of 2.09 and a beta of 0.98.

Ross Stores (NASDAQ:ROST – Free Report) last announced its earnings results on Thursday, May 18th. The apparel retailer reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Ross Stores had a net margin of 8.19% and a return on equity of 36.62%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 EPS. Research analysts expect that Ross Stores, Inc. will post 4.91 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Tuesday, June 6th will be issued a $0.335 dividend. The ex-dividend date of this dividend is Monday, June 5th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.23%. Ross Stores’s payout ratio is 29.71%.

About Ross Stores

(Free Report)

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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.