Leo Wealth LLC Invests $462,000 in Ross Stores, Inc. $ROST

Leo Wealth LLC purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,624 shares of the apparel retailer’s stock, valued at approximately $462,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Ross Stores by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 34,121,706 shares of the apparel retailer’s stock worth $4,360,413,000 after buying an additional 4,946,101 shares during the period. EdgePoint Investment Group Inc. lifted its position in shares of Ross Stores by 59.3% during the 1st quarter. EdgePoint Investment Group Inc. now owns 4,055,088 shares of the apparel retailer’s stock worth $518,200,000 after buying an additional 1,509,815 shares during the period. Invesco Ltd. lifted its holdings in shares of Ross Stores by 5.0% during the first quarter. Invesco Ltd. now owns 3,997,575 shares of the apparel retailer’s stock valued at $510,850,000 after acquiring an additional 192,148 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Ross Stores by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,912,392 shares of the apparel retailer’s stock valued at $372,134,000 after acquiring an additional 15,085 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Ross Stores by 2.3% during the first quarter. Principal Financial Group Inc. now owns 2,017,638 shares of the apparel retailer’s stock valued at $257,834,000 after acquiring an additional 45,674 shares during the period. Institutional investors own 86.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ROST shares. JPMorgan Chase & Co. lifted their price target on shares of Ross Stores from $156.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 22nd. Wells Fargo & Company lifted their price target on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. UBS Group lifted their target price on shares of Ross Stores from $144.00 to $147.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Barclays lifted their target price on shares of Ross Stores from $156.00 to $164.00 and gave the company an “overweight” rating in a research note on Friday, August 22nd. Finally, Robert W. Baird lifted their price objective on Ross Stores from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, August 22nd. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.67.

Ross Stores Trading Down 1.3%

ROST stock opened at $149.98 on Friday. The company has a market cap of $48.78 billion, a P/E ratio of 23.81, a PEG ratio of 2.92 and a beta of 1.18. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve 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. The business has a fifty day moving average of $148.36 and a 200-day moving average of $140.66.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.02. The firm had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.59 EPS. As a group, equities research analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 9th. Ross Stores’s payout ratio is 25.71%.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, CMO Karen Fleming sold 2,932 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $149.09, for a total transaction of $437,131.88. Following the completion of the sale, the chief marketing officer owned 88,335 shares in the company, valued at approximately $13,169,865.15. The trade was a 3.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Karen Sykes sold 4,000 shares of the company’s stock in a transaction dated 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 $16,149,236.88. This represents a 3.62% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,283 shares of company stock worth $6,789,418. Insiders own 2.20% of the company’s stock.

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.