KCM Investment Advisors LLC Boosts Stake in Ross Stores, Inc. (NASDAQ:ROST)

KCM Investment Advisors LLC raised its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 34,998 shares of the apparel retailer’s stock after acquiring an additional 1,720 shares during the period. KCM Investment Advisors LLC’s holdings in Ross Stores were worth $5,268,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ROST. Bleakley Financial Group LLC raised its holdings in Ross Stores by 8.9% in the 1st quarter. Bleakley Financial Group LLC now owns 5,986 shares of the apparel retailer’s stock valued at $878,000 after acquiring an additional 488 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Ross Stores by 539.1% during the 1st quarter. Kingsview Wealth Management LLC now owns 13,505 shares of the apparel retailer’s stock worth $1,982,000 after buying an additional 11,392 shares during the last quarter. Cumberland Partners Ltd acquired a new stake in shares of Ross Stores during the 1st quarter worth $954,000. Banco Santander S.A. increased its holdings in shares of Ross Stores by 9.3% during the 1st quarter. Banco Santander S.A. now owns 3,015 shares of the apparel retailer’s stock worth $442,000 after buying an additional 257 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Ross Stores during the 1st quarter worth $208,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Stock Down 0.8 %

NASDAQ:ROST traded down $1.08 on Friday, reaching $141.25. The stock had a trading volume of 426,959 shares, compared to its average volume of 2,261,037. 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 company has a 50-day moving average of $146.37 and a 200 day moving average of $144.04. The stock has a market cap of $46.86 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.31 and a beta of 1.09. Ross Stores, Inc. has a 12-month low of $119.73 and a 12-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. 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 analysts’ expectations of $5.25 billion. During the same period in the prior year, the company posted $1.32 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts predict that Ross Stores, Inc. will post 6.12 earnings per share for the current year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.3675 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.47 annualized dividend and a dividend yield of 1.04%. Ross Stores’s payout ratio is 23.71%.

Insider Transactions at Ross Stores

In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $152.22, for a total value of $2,266,099.14. Following the transaction, the chairman now owns 11,133 shares of the company’s stock, valued at $1,694,665.26. This trade represents a 57.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction 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 $48,003,532.29. This represents a 13.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,138 shares of company stock valued at $11,093,051. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ROST shares. Loop Capital upped their price objective on Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Wells Fargo & Company dropped their price objective on Ross Stores from $175.00 to $165.00 and set an “overweight” rating for the company in a report on Thursday. Bank of America upped their price objective on Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com downgraded Ross Stores from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, TD Cowen increased their price target on Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ross Stores has an average rating of “Moderate Buy” and an average target price of $170.00.

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.