Wealth Enhancement Advisory Services LLC Raises Holdings in Ross Stores, Inc. $ROST

Wealth Enhancement Advisory Services LLC boosted its position in Ross Stores, Inc. (NASDAQ:ROST) by 2.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 82,645 shares of the apparel retailer’s stock after acquiring an additional 1,723 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Ross Stores were worth $10,872,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its stake in shares of Ross Stores by 50.7% during the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer’s stock valued at $28,000 after buying an additional 73 shares during the period. Banque Transatlantique SA purchased a new stake in Ross Stores during the 1st quarter worth $29,000. Bayforest Capital Ltd lifted its holdings in Ross Stores by 372.5% in the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer’s stock worth $31,000 after buying an additional 190 shares in the last quarter. Tradewinds Capital Management LLC lifted its holdings in Ross Stores by 36.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer’s stock worth $36,000 after buying an additional 75 shares in the last quarter. Finally, Putney Financial Group LLC acquired a new position in Ross Stores in the 4th quarter worth $44,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ROST. Telsey Advisory Group restated a “market perform” rating and set a $160.00 price objective (up previously from $150.00) on shares of Ross Stores in a research note on Monday, August 18th. Robert W. Baird lifted their price target on Ross Stores from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, August 22nd. Cowen reaffirmed a “buy” rating on shares of Ross Stores in a report on Friday, August 22nd. JPMorgan Chase & Co. raised their price objective on shares of Ross Stores from $156.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.67.

Insider Activity

In related news, CMO Karen Sykes sold 4,000 shares of Ross Stores stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $151.76, for a total value of $607,040.00. Following the completion of the sale, the chief marketing officer owned 106,413 shares of the company’s stock, valued at approximately $16,149,236.88. The trade was a 3.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.20% of the company’s stock.

Ross Stores Trading Down 1.0%

Shares of NASDAQ:ROST opened at $144.67 on Tuesday. The firm has a fifty day moving average of $144.11 and a two-hundred day moving average of $138.57. The firm has a market capitalization of $47.05 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 2.81 and a beta of 1.15. Ross Stores, Inc. has a 12-month low of $122.36 and a 12-month high of $158.69. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.18.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.02. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The company had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the business posted $1.59 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Ross Stores’s payout ratio is presently 25.71%.

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.