Parallel Advisors LLC Boosts Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Parallel Advisors LLC raised its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,929 shares of the apparel retailer’s stock after buying an additional 87 shares during the period. Parallel Advisors LLC’s holdings in Ross Stores were worth $862,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in shares of Ross Stores in the 1st quarter worth $26,000. Rise Advisors LLC bought a new stake in Ross Stores during the first quarter valued at about $27,000. SJS Investment Consulting Inc. increased its position in Ross Stores by 262.1% in the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after buying an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in shares of Ross Stores in the second quarter worth about $32,000. Finally, Raleigh Capital Management Inc. lifted its position in shares of Ross Stores by 41.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors.

Insider Activity at Ross Stores

In other Ross Stores news, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares in the company, valued at approximately $48,003,532.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Michael Balmuth sold 14,887 shares of Ross Stores stock in a transaction dated 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 directly 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 accessible through this hyperlink. Also, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the completion of the sale, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at $48,003,532.29. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Ross Stores Stock Performance

NASDAQ ROST opened at $153.17 on Tuesday. The business’s 50 day moving average price is $146.98 and its 200-day moving average price is $142.97. Ross Stores, Inc. has a fifty-two week low of $108.35 and a fifty-two week high of $163.60. The company has a market cap of $51.09 billion, a P/E ratio of 25.83, a P/E/G ratio of 2.48 and a beta of 1.09. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56.

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

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Tuesday, September 10th. Ross Stores’s dividend payout ratio is presently 24.79%.

Wall Street Analysts Forecast Growth

ROST has been the topic of a number of recent analyst reports. Loop Capital raised their target price on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Guggenheim lifted their target price on shares of Ross Stores from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Barclays upped their target price on shares of Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Evercore ISI raised their price target on Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Finally, Morgan Stanley upped their price objective on Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ross Stores presently has a consensus 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.