Tealwood Asset Management Inc. Buys New Stake in Ross Stores, Inc. (NASDAQ:ROST)

Tealwood Asset Management Inc. purchased a new stake in Ross Stores, Inc. (NASDAQ:ROST) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,207 shares of the apparel retailer’s stock, valued at approximately $1,687,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. raised its holdings in Ross Stores by 41.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after acquiring an additional 74 shares during the last quarter. Quotient Wealth Partners LLC increased its holdings in shares of Ross Stores by 4.0% in the second quarter. Quotient Wealth Partners LLC now owns 2,197 shares of the apparel retailer’s stock valued at $319,000 after purchasing an additional 85 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in Ross Stores by 2.4% during the second quarter. Checchi Capital Advisers LLC now owns 3,673 shares of the apparel retailer’s stock worth $534,000 after buying an additional 86 shares in the last quarter. Kintegral Advisory LLC boosted its stake in Ross Stores by 3.0% during the second quarter. Kintegral Advisory LLC now owns 2,943 shares of the apparel retailer’s stock worth $428,000 after buying an additional 87 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in Ross Stores by 1.5% in the 2nd quarter. Parallel Advisors LLC now owns 5,929 shares of the apparel retailer’s stock valued at $862,000 after buying an additional 87 shares in the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, COO Michael J. Hartshorn sold 8,366 shares of the business’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 transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now owns 103,049 shares in the company, valued at $16,038,546.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman Michael Balmuth sold 14,887 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the sale, the chairman now owns 11,133 shares of the company’s stock, valued at approximately $1,694,665.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael J. Hartshorn sold 8,366 shares of the company’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 completion of the transaction, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at $16,038,546.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,138 shares of company stock valued at $11,093,051 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Trading Up 1.0 %

NASDAQ ROST traded up $1.47 during trading on Tuesday, hitting $141.59. The stock had a trading volume of 503,102 shares, compared to its average volume of 2,218,774. The company has a market capitalization of $47.23 billion, a PE ratio of 23.69, a PEG ratio of 2.40 and a beta of 1.09. Ross Stores, Inc. has a twelve month low of $110.82 and a twelve month high of $163.60. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $148.26 and a 200 day moving average price of $143.28.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.09. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.32 EPS. As a group, equities research analysts forecast that Ross Stores, Inc. will post 6.2 earnings per share for the current year.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.3675 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.47 annualized dividend and a yield of 1.04%. Ross Stores’s dividend payout ratio (DPR) is 24.79%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ROST. Bank of America lifted their price target on Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Robert W. Baird boosted their target price on shares of Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Barclays increased their price target on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Wells Fargo & Company lifted 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. Finally, Morgan Stanley increased their price objective on Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research report 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.