Lourd Capital LLC Purchases New Stake in Ross Stores, Inc. (ROST)

Lourd Capital LLC purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,502 shares of the apparel retailer’s stock, valued at approximately $446,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NuWave Investment Management LLC raised its position in shares of Ross Stores by 168.7% during the second quarter. NuWave Investment Management LLC now owns 1,701 shares of the apparel retailer’s stock worth $145,000 after purchasing an additional 1,068 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Ross Stores by 81.5% during the second quarter. SRS Capital Advisors Inc. now owns 1,875 shares of the apparel retailer’s stock worth $158,000 after purchasing an additional 842 shares during the period. MUFG Americas Holdings Corp raised its position in Ross Stores by 216.4% in the 2nd quarter. MUFG Americas Holdings Corp now owns 1,924 shares of the apparel retailer’s stock valued at $163,000 after buying an additional 1,316 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Ross Stores in the 2nd quarter valued at approximately $188,000. Finally, Financial Gravity Wealth Inc. acquired a new stake in Ross Stores in the 1st quarter valued at approximately $181,000. 88.24% of the stock is currently owned by institutional investors.

NASDAQ:ROST opened at $95.02 on Thursday. The company has a market cap of $37.00 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 2.41 and a beta of 1.09. Ross Stores, Inc. has a twelve month low of $62.34 and a twelve month high of $100.58. The company has a current ratio of 1.71, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, August 23rd. The apparel retailer reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.03. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.66 billion. Ross Stores had a return on equity of 47.56% and a net margin of 10.41%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 EPS. Research analysts forecast that Ross Stores, Inc. will post 4.12 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Thursday, September 13th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Wednesday, September 12th. Ross Stores’s dividend payout ratio (DPR) is 26.95%.

In other Ross Stores news, Director Norman A. Ferber sold 10,144 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $94.90, for a total transaction of $962,665.60. Following the transaction, the director now owns 25,127 shares of the company’s stock, valued at approximately $2,384,552.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by insiders.

A number of brokerages recently issued reports on ROST. BidaskClub lowered Ross Stores from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 12th. Nomura lifted their target price on Ross Stores from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, August 24th. Barclays began coverage on Ross Stores in a research report on Tuesday, September 11th. They issued an “equal weight” rating and a $106.00 target price on the stock. Deutsche Bank lifted their target price on Ross Stores from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, August 20th. Finally, William Blair reissued an “outperform” rating on shares of Ross Stores in a research report on Friday, August 24th. Twelve investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $96.04.

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 brands in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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