Radnor Capital Management LLC Purchases Shares of 3,900 Ross Stores, Inc. (NASDAQ:ROST)

by · The Markets Daily

Radnor Capital Management LLC acquired a new position in Ross Stores, Inc. (NASDAQ:ROST – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,900 shares of the apparel retailer’s stock, valued at approximately $587,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. PGGM Investments boosted its stake in shares of Ross Stores by 724.1% during the 2nd quarter. PGGM Investments now owns 24,848 shares of the apparel retailer’s stock worth $3,611,000 after acquiring an additional 21,833 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Ross Stores by 140.2% in the first quarter. Canada Pension Plan Investment Board now owns 464,062 shares of the apparel retailer’s stock worth $68,106,000 after buying an additional 270,844 shares in the last quarter. Diversified Trust Co raised its stake in shares of Ross Stores by 47.5% in the second quarter. Diversified Trust Co now owns 13,124 shares of the apparel retailer’s stock worth $1,907,000 after buying an additional 4,228 shares during the period. TD Asset Management Inc lifted its position in shares of Ross Stores by 8.1% during the 1st quarter. TD Asset Management Inc now owns 547,710 shares of the apparel retailer’s stock valued at $80,382,000 after buying an additional 41,204 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Ross Stores by 19.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 30,919 shares of the apparel retailer’s stock valued at $4,538,000 after buying an additional 4,992 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Trading Down 2.6 %

ROST opened at $138.59 on Thursday. The stock has a 50-day moving average of $147.55 and a 200 day moving average of $143.75. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. Ross Stores, Inc. has a 12 month low of $119.73 and a 12 month high of $163.60. The firm has a market cap of $45.98 billion, a P/E ratio of 22.35, a P/E/G ratio of 2.28 and a beta of 1.09.

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

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were paid 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 currently 23.71%.

Analysts Set New Price Targets

A number of research firms have commented on ROST. Morgan Stanley raised their target price on shares of Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Bank of America lifted their target price 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. UBS Group increased their price target on Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, Loop Capital increased their target price on Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $171.88.

Get Our Latest Report on Ross Stores

Insider Buying and Selling at Ross Stores

In other news, Chairman Michael Balmuth sold 14,887 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total value of $2,266,099.14. Following the sale, the chairman now directly owns 11,133 shares in the company, valued at approximately $1,694,665.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Ross Stores news, CEO Barbara Rentler sold 48,885 shares of the business’s 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 sale, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at $48,003,532.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Michael Balmuth sold 14,887 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the completion of the transaction, the chairman now owns 11,133 shares in the company, valued at $1,694,665.26. 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 worth $11,093,051 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Ross Stores Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST – Free Report).