Eastern Bank Decreases Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Eastern Bank lowered its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,517 shares of the apparel retailer’s stock after selling 1,183 shares during the quarter. Eastern Bank’s holdings in Ross Stores were worth $1,432,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ROST. RFG Advisory LLC purchased a new position in shares of Ross Stores in the 1st quarter worth about $267,000. Riverview Trust Co purchased a new stake in shares of Ross Stores during the first quarter valued at approximately $26,000. Signet Financial Management LLC increased its position in shares of Ross Stores by 2.0% during the first quarter. Signet Financial Management LLC now owns 27,052 shares of the apparel retailer’s stock valued at $3,970,000 after acquiring an additional 532 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Ross Stores by 6.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 61,269 shares of the apparel retailer’s stock worth $8,992,000 after acquiring an additional 3,678 shares during the last quarter. Finally, Lincoln Capital LLC bought a new position in Ross Stores in the 1st quarter valued at approximately $201,000. Institutional investors own 86.86% of the company’s stock.

Insider Transactions at Ross Stores

In related news, COO Michael J. Hartshorn sold 8,366 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the sale, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at $48,003,532.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael J. Hartshorn sold 8,366 shares of the stock in a transaction that occurred 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 owns 103,049 shares in the company, valued at approximately $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 sold a total of 72,138 shares of company stock worth $11,093,051 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Ross Stores Stock Performance

NASDAQ:ROST opened at $145.75 on Wednesday. The company’s 50-day moving average is $149.42 and its two-hundred day moving average is $143.37. The firm has a market capitalization of $48.35 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 2.44 and a beta of 1.09. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05. Ross Stores, Inc. has a 1-year low of $112.39 and a 1-year high of $163.60.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $5.25 billion. During the same period in the previous year, the firm earned $1.32 EPS. Ross Stores’s revenue was up 7.1% on a year-over-year basis. Analysts forecast that Ross Stores, Inc. will post 6.2 EPS for the current year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Tuesday, September 10th. Ross Stores’s dividend payout ratio (DPR) is 23.71%.

Wall Street Analysts Forecast Growth

ROST has been the subject of a number of research reports. Telsey Advisory Group upped their price objective on Ross Stores from $160.00 to $175.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Barclays upped their price target on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Bank of America raised their price objective on shares of Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Gordon Haskett upgraded shares of Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, TD Cowen boosted their price objective on shares of Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Ross Stores has a consensus rating of “Moderate Buy” and an average 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.