Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Oppenheimer Asset Management Inc.

Posted by Defense World Staff on Aug 29th, 2023

Oppenheimer Asset Management Inc. decreased its position in Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 6.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,651 shares of the apparel retailer’s stock after selling 242 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ross Stores were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC acquired a new position in Ross Stores in the 4th quarter valued at about $29,000. Elequin Securities LLC acquired a new position in Ross Stores in the 4th quarter valued at about $30,000. Ameritas Advisory Services LLC acquired a new position in Ross Stores in the 1st quarter valued at about $34,000. Ellevest Inc. raised its stake in Ross Stores by 142.9% in the 1st quarter. Ellevest Inc. now owns 340 shares of the apparel retailer’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Finally, American National Bank grew its holdings in Ross Stores by 656.0% in the 1st quarter. American National Bank now owns 378 shares of the apparel retailer’s stock valued at $40,000 after buying an additional 328 shares during the period. Institutional investors and hedge funds own 84.79% of the company’s stock.

Ross Stores Stock Up 0.8 %

NASDAQ ROST opened at $119.93 on Tuesday. The stock has a market cap of $40.86 billion, a PE ratio of 25.41, a P/E/G ratio of 1.96 and a beta of 0.99. Ross Stores, Inc. has a fifty-two week low of $81.21 and a fifty-two week high of $122.70. The business has a 50 day moving average price of $112.64 and a two-hundred day moving average price of $108.38. The company has a quick ratio of 1.25, a current ratio of 1.83 and a debt-to-equity ratio of 0.55.

Ross Stores (NASDAQ:ROST – Get Free Report) last released its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.16. Ross Stores had a return on equity of 37.36% and a net margin of 8.36%. The firm had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the prior year, the business earned $1.11 EPS. Ross Stores’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that Ross Stores, Inc. will post 5.23 EPS for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 5th will be given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, September 1st. Ross Stores’s payout ratio is 28.39%.

Wall Street Analyst Weigh In

Several analysts have commented on ROST shares. Barclays lifted their price target on Ross Stores from $122.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, August 15th. UBS Group lifted their price target on Ross Stores from $80.00 to $84.00 and gave the company a “sell” rating in a report on Friday, August 18th. Guggenheim lifted their price target on Ross Stores from $125.00 to $135.00 and gave the company a “buy” rating in a report on Friday, August 18th. 888 restated a “downgrade” rating on shares of Ross Stores in a report on Monday, June 26th. Finally, Sanford C. Bernstein lifted their price target on Ross Stores from $136.00 to $142.00 in a report on Sunday, August 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.00.

Check Out Our Latest Report on Ross Stores

Insider Buying and Selling at Ross Stores

In other Ross Stores news, CMO Brian R. Morrow sold 25,945 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $121.53, for a total value of $3,153,095.85. Following the transaction, the chief marketing officer now directly owns 67,033 shares of the company’s stock, valued at approximately $8,146,520.49. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Ross Stores Company Profile

(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.