Ross Stores, Inc. $ROST Shares Acquired by Belpointe Asset Management LLC

Belpointe Asset Management LLC grew its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 9.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,995 shares of the apparel retailer’s stock after acquiring an additional 330 shares during the period. Belpointe Asset Management LLC’s holdings in Ross Stores were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in Ross Stores by 50.7% during the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer’s stock worth $28,000 after acquiring an additional 73 shares in the last quarter. Bayforest Capital Ltd grew its holdings in Ross Stores by 372.5% during the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 190 shares in the last quarter. Banque Transatlantique SA acquired a new position in Ross Stores during the 1st quarter worth approximately $29,000. Tradewinds Capital Management LLC grew its holdings in Ross Stores by 36.6% during the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 75 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in Ross Stores during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ROST shares. UBS Group boosted their price target on shares of Ross Stores from $144.00 to $147.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ross Stores in a report on Saturday, September 27th. 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 report on Monday, August 18th. Morgan Stanley boosted their price objective on shares of Ross Stores from $128.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Friday, August 22nd. Finally, Barclays boosted their price objective on shares of Ross Stores from $156.00 to $164.00 and gave the stock an “overweight” rating in a research report on Friday, August 22nd. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.67.

Ross Stores Stock Down 1.3%

ROST stock opened at $149.98 on Friday. The company has a fifty day moving average price of $148.36 and a 200 day moving average price of $140.66. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $158.69. The company has a market cap of $48.78 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 2.92 and a beta of 1.18. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.54 by $0.02. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The firm had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the firm earned $1.59 EPS. Ross Stores’s revenue for the quarter was up 4.6% on a year-over-year basis. Sell-side analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Dividend Announcement

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

Insider Activity at Ross Stores

In related 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 value of $437,131.88. Following the completion of the sale, the chief marketing officer owned 88,335 shares in the company, valued at $13,169,865.15. This represents a 3.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Karen Sykes sold 4,000 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total transaction of $607,040.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 46,283 shares of company stock worth $6,789,418 in the last 90 days. 2.20% of the stock is owned by insiders.

About Ross Stores

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.