Pallas Capital Advisors LLC Boosts Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Pallas Capital Advisors LLC grew its position in Ross Stores, Inc. (NASDAQ:ROST) by 30.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,488 shares of the apparel retailer’s stock after purchasing an additional 1,500 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Ross Stores were worth $937,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its stake in Ross Stores by 12.7% in the third quarter. Nisa Investment Advisors LLC now owns 104,770 shares of the apparel retailer’s stock valued at $15,769,000 after buying an additional 11,780 shares during the last quarter. Welch Group LLC acquired a new position in shares of Ross Stores during the third quarter valued at about $242,000. AllGen Financial Advisors Inc. boosted its stake in Ross Stores by 3.3% in the 3rd quarter. AllGen Financial Advisors Inc. now owns 13,369 shares of the apparel retailer’s stock worth $2,012,000 after purchasing an additional 423 shares in the last quarter. Modera Wealth Management LLC boosted its stake in Ross Stores by 17.3% in the 3rd quarter. Modera Wealth Management LLC now owns 4,342 shares of the apparel retailer’s stock worth $654,000 after purchasing an additional 641 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its position in Ross Stores by 36.6% during the 3rd quarter. Arkadios Wealth Advisors now owns 17,625 shares of the apparel retailer’s stock worth $2,653,000 after purchasing an additional 4,718 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Insider Transactions at Ross Stores

In related news, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the transaction, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Michael Balmuth sold 14,887 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the completion of the sale, the chairman now owns 11,133 shares of the company’s stock, valued at $1,694,665.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now directly owns 103,049 shares in the company, valued at approximately $16,038,546.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,138 shares of company stock valued at $11,093,051 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ROST shares. StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. TD Cowen increased their price objective on Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Loop Capital raised their price objective on Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Robert W. Baird upped their target price on Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, Barclays raised their price target on shares of Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ross Stores presently has a consensus rating of “Moderate Buy” and an average target price of $169.71.

Ross Stores Trading Down 2.9 %

Shares of Ross Stores stock opened at $139.01 on Wednesday. The firm has a 50-day simple moving average of $149.11 and a two-hundred day simple moving average of $143.53. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. Ross Stores, Inc. has a fifty-two week low of $113.45 and a fifty-two week high of $163.60. The company has a market cap of $46.12 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the prior year, the firm posted $1.32 EPS. Ross Stores’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts predict that Ross Stores, Inc. will post 6.2 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were issued a $0.3675 dividend. This represents a $1.47 annualized dividend and a yield of 1.06%. The ex-dividend date was Tuesday, September 10th. Ross Stores’s payout ratio is presently 23.71%.

Ross Stores Company Profile

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.