Custom Index Systems LLC buys new shares of Ross Stores, Inc. (NASDAQ:ROST)

VaselineSeptember 9, 2024

0 4 minutes read

Custom Index Systems LLC purchased a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,434 shares of the apparel retailer’s stock, valued at approximately $208,000.

A number of other large investors have also recently made changes to their positions in ROST. Norges Bank bought a new stake in Ross Stores in the fourth quarter valued at about $523,185,000. First Trust Advisors LP grew its position in shares of Ross Stores by 515.8% in the fourth quarter. First Trust Advisors LP now owns 1,756,881 shares of the apparel retailer’s stock valued at $243,135,000 after buying an additional 1,471,585 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Ross Stores by 68.8% in the second quarter. Los Angeles Capital Management LLC now owns 2,391,856 shares of the apparel retailer’s stock worth $347,585,000 after buying an additional 975,190 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of Ross Stores in the fourth quarter valued at approximately $102,083,000. Finally, Wellington Management Group LLP grew its position in shares of Ross Stores by 14.6% in 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. 86.86% of shares are owned by institutional investors.

Insider buying and selling

In related 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 directly owns 311,853 shares in the company, valued at approximately $48,003,532.29. The sale was disclosed in a filing with the SEC, which can be accessed via this hyperlink. 2.10% of shares are owned by company insiders.

The Wall Street analyst weighs in

Want more great investment ideas?

Several research firms recently issued reports on ROST. UBS Group upped their target price on shares of Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Evercore ISI boosted their target price on shares of Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Telsey Advisory Group upped their price objective on shares of Ross Stores from $160.00 to $175.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Bank of America boosted their price objective on shares of Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Guggenheim boosted their price objective on shares of Ross Stores from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $169.71.

Check out our latest research report on Ross stores

Ross stores trade down 1.7%

NASDAQ:ROST opened at $150.53 on Monday. The company has a fifty day moving average of $146.10 and a 200 day moving average of $142.81. Ross Stores, Inc. it has a 52-week low of $108.35 and a 52-week high of $163.60. The company has a quick ratio of 1.05, a current ratio of 1.56, and a debt-to-equity ratio of 0.30. The firm has a market cap of $50.21 billion, a P/E ratio of 25.38, a P/E/G ratio of 2.45 and a beta of 1.09.

Ross Stores (NASDAQ:ROST – Get Your Free Report ) last issued its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, topping the consensus estimate of $1.50 by $0.09. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same period in the prior year, the business earned $1.32 EPS. The company’s revenue for the quarter was up 7.1% year over year. On average, research analysts predict that Ross Stores, Inc. will post 6.2 earnings per share for the current year.

Ross store dividend announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be paid a $0.3675 dividend. The ex-dividend date is Tuesday, September 10. This represents an annualized dividend of $1.47 and a dividend yield of 0.98%. Ross Stores’ payout ratio is 24.79%.

Profile of 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.