Dynamic Advisor Solutions LLC makes a new $209,000 investment in Ross Stores, Inc. (NASDAQ:ROST)

Dynamic Advisor Solutions LLC bought a new position in shares of Ross Stores, Inc. (NASDAQ:ROST – Free Report) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 1,439 shares of the apparel retailer’s stock, valued at approximately $209,000.

A number of other hedge funds have also recently added to or reduced their stakes in ROST. EverSource Wealth Advisors LLC boosted its position in shares of Ross Stores by 9.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 888 shares of the apparel retailer’s stock worth $123,000 after acquiring an additional 73 shares during the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Ross Stores by 41.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. Greenleaf Trust raised its holdings in shares of Ross Stores by 1.6% during the 4th quarter. Greenleaf Trust now owns 5,133 shares of the apparel retailer’s stock valued at $710,000 after buying an additional 80 shares during the period . Geneos Wealth Management Inc. raised its holdings in shares of Ross Stores by 52.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after buying an additional 83 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of Ross Stores by 9.8% in the 4th quarter. First Horizon Advisors Inc. now owns 961 shares of the apparel retailer’s stock worth $133,000 after purchasing an additional 86 shares during the period. 86.86% of shares are owned by institutional investors and hedge funds.

Analysts on Wall Street are forecasting an increase

Several brokerages have commented on ROST. Morgan Stanley boosted their price target on Ross Stores from $159.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. UBS Group raised their target price on shares of Ross Stores from $145.00 to $147.00 and gave the company a “neutral” rating in a research report on Friday, May 24th. Guggenheim increased their price objective on shares of Ross Stores from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. StockNews.com raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $160.00 target price on shares of Ross Stores in a research report on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Ross Stores has a consensus rating of “Moderate Buy” and a consensus price target of $158.89, according to MarketBeat .

Read our latest research report on Ross stores

Ross store stocks up 4.6%

Shares of Ross Stores stock opened at $147.80 on Friday. The company has a 50-day moving average price of $144.71 and a 200-day moving average price of $141.99. Ross Stores, Inc. it has a fifty-two week low of $108.35 and a fifty-two week high of $153.06. The firm has a market cap of $49.30 billion, a P/E ratio of 24.92, a P/E/G ratio of 2.45 and a beta of 1.08. The company has a quick ratio of 1.03, a current ratio of 1.54, and a debt-to-equity ratio of 0.31.

Ross Stores (NASDAQ:ROST – Get Your Free Report ) last posted its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.11. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same period in the prior year, the business earned $1.09 EPS. The company’s quarterly revenue was up 8.1% year over year. On average, sell-side analysts estimate that Ross Stores, Inc. will post 5.97 earnings per share for the current fiscal year.

Ross Stores announces dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were given a dividend of $0.3675 per share. The ex-dividend date of this dividend was Tuesday, June 11th. This represents an annualized dividend of $1.47 and a yield of 0.99%. Ross Stores’ dividend payout ratio (DPR) is 24.79%.

Insiders place their bets

In other news, Director Patricia H. Mueller sold 941 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total transaction of $130,206.17. Following the completion of the transaction, the director now directly owns 973 shares of the company’s stock, valued at $134,634.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. 2.10% of shares are currently owned by corporate insiders.

About Ross stores

(Free Report)

Ross Stores, Inc, together with its subsidiaries, operates discount clothing and home fashion stores under the Ross Dress for Less and dd’s DISCOUNTS brands in the United States. Its stores mainly offer clothing, accessories, footwear and home fashion. The company’s Ross Dress for Less stores sell their products in department and specialty stores for middle-income households; and dd’s DISCOUNTS stores sell their products at department and discount stores for moderate income households.

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