MQS Management LLC Buys 970 Shares of Ross Stores, Inc. (NASDAQ:ROST)

MQS Management LLC raised its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 33.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,840 shares of the apparel retailer’s stock after purchasing an additional 970 shares during the quarter. MQS Management LLC’s holdings in Ross Stores were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ross Stores during the 2nd quarter valued at about $27,000. SJS Investment Consulting Inc. raised its stake in shares of Ross Stores by 262.1% during the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in shares of Ross Stores in the 2nd quarter worth approximately $32,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Ross Stores in the 3rd quarter valued at $33,000. Finally, Crewe Advisors LLC raised its position in Ross Stores by 97.8% in the 2nd quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock worth $40,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Down 1.4 %

Shares of NASDAQ:ROST opened at $140.31 on Wednesday. The stock has a 50 day moving average price of $146.82 and a 200-day moving average price of $144.08. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. The firm has a market capitalization of $46.55 billion, a P/E ratio of 22.63, a P/E/G ratio of 2.34 and a beta of 1.09. Ross Stores, Inc. has a 52-week low of $119.73 and a 52-week high of $163.60.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.25 billion. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $1.32 EPS. As a group, equities research analysts anticipate that Ross Stores, Inc. will post 6.12 EPS for the current fiscal year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were issued a $0.3675 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a yield of 1.05%. Ross Stores’s payout ratio is currently 23.71%.

Analyst Upgrades and Downgrades

ROST has been the topic of a number of recent research reports. Gordon Haskett raised Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. Citigroup cut Ross Stores from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $179.00 to $152.00 in a research note on Tuesday. Loop Capital increased their price objective on Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Bank of America upped their price target on shares of Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company increased their price target on shares of Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $170.63.

Insider Transactions at Ross Stores

In related news, COO Michael J. Hartshorn sold 8,366 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the transaction, the chief operating officer now owns 103,049 shares in the company, valued at $16,038,546.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the transaction, the chief operating officer now owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Michael Balmuth sold 14,887 shares of the business’s 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 sale, the chairman now directly owns 11,133 shares of the company’s stock, valued at approximately $1,694,665.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,138 shares of company stock worth $11,093,051 over the last quarter. 2.10% of the stock is currently owned by insiders.

Ross Stores Company Profile

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.