Edgestream Partners L.P. Takes $415,000 Position in Ross Stores, Inc. (NASDAQ:ROST)

Edgestream Partners L.P. purchased a new position in Ross Stores, Inc. (NASDAQ:ROST) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,859 shares of the apparel retailer’s stock, valued at approximately $415,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROST. Riverview Trust Co acquired a new position in shares of Ross Stores in the 1st quarter worth approximately $26,000. Rise Advisors LLC acquired a new position in Ross Stores in the first quarter worth $27,000. SJS Investment Consulting Inc. increased its stake in Ross Stores by 262.1% during the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 152 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in Ross Stores during the second quarter valued at $32,000. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Ross Stores by 41.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock worth $35,000 after purchasing an additional 74 shares during the period. 86.86% of the stock is owned by institutional investors.

Ross Stores Stock Down 0.1 %

ROST opened at $154.31 on Monday. 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 company has a market capitalization of $51.47 billion, a PE ratio of 26.02, a P/E/G ratio of 2.49 and a beta of 1.09. The stock’s fifty day moving average is $147.23 and its 200-day moving average is $143.06. Ross Stores, Inc. has a one year low of $108.35 and a one year high of $163.60.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, topping the consensus estimate of $1.50 by $0.09. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the previous year, the business earned $1.32 earnings per share. Ross Stores’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Ross Stores, Inc. will post 6.2 EPS for the current fiscal year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be issued a $0.3675 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $1.47 annualized dividend and a dividend yield of 0.95%. Ross Stores’s dividend payout ratio is currently 24.79%.

Insider Activity

In other news, COO Michael J. Hartshorn sold 8,366 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the sale, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at $16,038,546.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Michael Balmuth sold 14,887 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total value of $2,266,099.14. Following the completion of the sale, the chairman now owns 11,133 shares in the company, valued at $1,694,665.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores stock in a transaction 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 in the company, valued at approximately $16,038,546.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,138 shares of company stock worth $11,093,051. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ROST shares. TD Cowen raised their target price on shares of Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com upgraded Ross Stores from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. Wells Fargo & Company raised their target price on Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley upped their price target on shares of Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, UBS Group lifted their price objective on shares of Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $169.71.

Ross Stores 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.