Glenmede Investment Management LP Increases Stock Holdings in Ross Stores, Inc. $ROST

Glenmede Investment Management LP increased its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 342,411 shares of the apparel retailer’s stock after buying an additional 8,880 shares during the period. Glenmede Investment Management LP owned about 0.11% of Ross Stores worth $52,180,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. American National Bank & Trust acquired a new position in Ross Stores during the third quarter worth about $26,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Ross Stores in the third quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Ross Stores by 162.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer’s stock valued at $36,000 after purchasing an additional 148 shares during the last quarter. True Wealth Design LLC grew its position in shares of Ross Stores by 152.0% in the third quarter. True Wealth Design LLC now owns 257 shares of the apparel retailer’s stock valued at $39,000 after purchasing an additional 155 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Ross Stores during the 2nd quarter worth approximately $38,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CMO Karen Sykes sold 2,556 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $213.91, for a total transaction of $546,753.96. Following the completion of the sale, the chief marketing officer directly owned 103,945 shares of the company’s stock, valued at $22,234,874.95. The trade was a 2.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patricia H. Mueller sold 1,881 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $213.13, for a total value of $400,897.53. Following the sale, the director owned 2,159 shares of the company’s stock, valued at approximately $460,147.67. The trade was a 46.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.20% of the stock is currently owned by insiders.

Ross Stores Stock Performance

Ross Stores stock opened at $206.28 on Friday. The firm has a market capitalization of $66.72 billion, a P/E ratio of 31.21, a PEG ratio of 2.86 and a beta of 0.97. The stock has a fifty day moving average price of $196.31 and a 200 day moving average price of $174.22. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $216.80. The company has a current ratio of 1.58, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Tuesday, March 3rd. The apparel retailer reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.10. The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.42 billion. Ross Stores had a return on equity of 36.70% and a net margin of 9.43%.The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company earned $1.65 EPS. Equities research analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.445 dividend. The ex-dividend date is Friday, March 13th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.41. This represents a $1.78 dividend on an annualized basis and a yield of 0.9%. Ross Stores’s payout ratio is presently 24.51%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Telsey Advisory Group upgraded Ross Stores from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $220.00 to $240.00 in a research report on Wednesday, March 4th. Wall Street Zen upgraded Ross Stores from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. UBS Group set a $208.00 price target on Ross Stores in a report on Thursday, March 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Ross Stores in a report on Friday, January 9th. Finally, Sanford C. Bernstein set a $200.00 price objective on Ross Stores in a research note on Wednesday, March 4th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.29.

Ross Stores Company Profile

Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.