Kerusso Capital Management LLC Makes New Investment in Ross Stores, Inc. (NASDAQ:ROST)

Kerusso Capital Management LLC bought a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,645 shares of the apparel retailer’s stock, valued at approximately $1,983,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ROST. Norges Bank purchased a new position in Ross Stores in the 4th quarter worth about $523,185,000. First Trust Advisors LP grew its stake in Ross Stores by 515.8% in the 4th quarter. First Trust Advisors LP now owns 1,756,881 shares of the apparel retailer’s stock worth $243,135,000 after acquiring an additional 1,471,585 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Ross Stores by 68.8% during 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 acquiring an additional 975,190 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of Ross Stores during the fourth quarter valued at approximately $102,083,000. Finally, Wellington Management Group LLP boosted its holdings 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 valued at $653,600,000 after purchasing an additional 601,031 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Stock Down 1.7 %

Shares of ROST stock opened at $150.53 on Friday. The stock’s fifty day moving average price is $146.10 and its 200 day moving average price is $142.83. Ross Stores, Inc. has a 1-year low of $108.35 and a 1-year high of $163.60. The company has a market cap of $50.21 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05.

Ross Stores (NASDAQ:ROST) last issued 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. The business 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%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.32 earnings per share. On average, research analysts expect that Ross Stores, Inc. will post 6.21 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.3675 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.47 annualized dividend and a dividend yield of 0.98%. Ross Stores’s payout ratio is currently 24.79%.

Insider Activity

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 stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the sale, the chief executive officer now owns 311,853 shares in the company, valued at approximately $48,003,532.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ROST. Loop Capital raised 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. TD Cowen lifted 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. Bank of America increased their target price on shares of Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Guggenheim raised their target price on shares of Ross Stores from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Finally, Evercore ISI upped their price target on shares of Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $169.71.

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.