Ground Swell Capital LLC Takes Position in Ross Stores, Inc. (NASDAQ:ROST)

Ground Swell Capital LLC purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,842 shares of the apparel retailer’s stock, valued at approximately $413,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Ross Stores by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 28,916,192 shares of the apparel retailer’s stock valued at $4,243,740,000 after acquiring an additional 346,474 shares during the period. Franklin Resources Inc. lifted its stake in Ross Stores by 3.4% during the fourth quarter. Franklin Resources Inc. now owns 4,931,795 shares of the apparel retailer’s stock worth $682,511,000 after purchasing an additional 161,202 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Ross Stores by 14.6% during the fourth quarter. Wellington Management Group LLP now owns 4,722,885 shares of the apparel retailer’s stock worth $653,600,000 after buying an additional 601,031 shares during the period. Norges Bank acquired a new stake in shares of Ross Stores in the fourth quarter valued at $523,185,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Ross Stores by 11.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,310,364 shares of the apparel retailer’s stock valued at $481,062,000 after buying an additional 347,006 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ROST has been the subject of several research reports. Telsey Advisory Group lifted their target price 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. StockNews.com downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Wells Fargo & Company increased their target price on shares of Ross Stores from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Barclays upped their price objective on Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.71.

Ross Stores Price Performance

Ross Stores stock opened at $150.79 on Wednesday. The stock has a market capitalization of $50.30 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 2.45 and a beta of 1.09. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average of $146.34 and a two-hundred day moving average of $142.86. Ross Stores, Inc. has a twelve month low of $108.35 and a twelve month high of $163.60.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. Ross Stores’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $1.32 EPS. As a group, research analysts expect that Ross Stores, Inc. will post 6.2 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be issued a dividend of $0.3675 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.47 annualized dividend and a yield of 0.97%. Ross Stores’s dividend payout ratio is currently 24.79%.

Insider Activity at Ross Stores

In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the transaction, the chairman now owns 11,133 shares in the company, valued at approximately $1,694,665.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Barbara Rentler sold 48,885 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the completion of the transaction, the chief executive officer now owns 311,853 shares in the company, valued at approximately $48,003,532.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael Balmuth sold 14,887 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the sale, the chairman now directly owns 11,133 shares in the company, valued at approximately $1,694,665.26. The disclosure for this sale can be found here. 2.10% 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.