Ross Stores, Inc. $ROST Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC lowered its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 1.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,013 shares of the apparel retailer’s stock after selling 136 shares during the period. Integrated Wealth Concepts LLC’s holdings in Ross Stores were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. DoubleLine ETF Adviser LP acquired a new stake in shares of Ross Stores during the 1st quarter worth approximately $1,001,000. EdgePoint Investment Group Inc. increased its holdings in Ross Stores by 59.3% in the 1st quarter. EdgePoint Investment Group Inc. now owns 4,055,088 shares of the apparel retailer’s stock valued at $518,200,000 after purchasing an additional 1,509,815 shares during the last quarter. Cinctive Capital Management LP increased its holdings in Ross Stores by 6.3% in the 1st quarter. Cinctive Capital Management LP now owns 70,121 shares of the apparel retailer’s stock valued at $8,961,000 after purchasing an additional 4,139 shares during the last quarter. Banque Transatlantique SA acquired a new stake in Ross Stores in the 1st quarter valued at approximately $29,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings in Ross Stores by 184.4% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,080,532 shares of the apparel retailer’s stock valued at $138,081,000 after purchasing an additional 700,546 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Stock Performance

NASDAQ:ROST opened at $149.24 on Thursday. The company has a fifty day simple moving average of $141.58 and a two-hundred day simple moving average of $138.03. The company has a market cap of $48.81 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 2.86 and a beta of 1.15. 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, Inc. has a 52 week low of $122.36 and a 52 week high of $158.69.

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

Ross Stores Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ROST. Cowen reiterated a “buy” rating on shares of Ross Stores in a report on Friday, August 22nd. Robert W. Baird lifted their target price on shares of Ross Stores from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, August 22nd. Jefferies Financial Group upgraded shares of Ross Stores from a “hold” rating to a “buy” rating and lifted their target price for the company from $135.00 to $150.00 in a report on Wednesday, July 2nd. Telsey Advisory Group reiterated a “market perform” rating and issued a $160.00 target price (up previously from $150.00) on shares of Ross Stores in a report on Monday, August 18th. Finally, 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 report on Friday, August 22nd. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.67.

Insider Activity at Ross Stores

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

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.