Nations Financial Group Inc. IA ADV reduced its holdings in Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 49.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,650 shares of the apparel retailer’s stock after selling 1,600 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Ross Stores were worth $228,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Franklin Resources Inc. lifted its holdings in Ross Stores by 3.4% in the fourth quarter. Franklin Resources Inc. now owns 4,931,795 shares of the apparel retailer’s stock valued at $682,511,000 after acquiring an additional 161,202 shares during the period. Wellington Management Group LLP grew its holdings in shares of Ross Stores by 19.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,121,854 shares of the apparel retailer’s stock worth $465,563,000 after acquiring an additional 673,670 shares during the period. Norges Bank acquired a new position in Ross Stores during the fourth quarter worth $523,185,000. Northern Trust Corp boosted its position in Ross Stores by 1.9% during the third quarter. Northern Trust Corp now owns 3,677,191 shares of the apparel retailer’s stock worth $415,339,000 after purchasing an additional 68,518 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Ross Stores by 4.5% in the third quarter. Invesco Ltd. now owns 2,229,488 shares of the apparel retailer’s stock valued at $251,821,000 after purchasing an additional 95,386 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.
Ross Stores Stock Performance
Shares of ROST opened at $137.64 on Wednesday. The company has a market capitalization of $46.34 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 2.13 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.03. Ross Stores, Inc. has a one year low of $100.66 and a one year high of $151.12. The company’s fifty day moving average price is $136.63 and its 200 day moving average price is $138.00.
Ross Stores (NASDAQ:ROST – Get Free Report) last posted its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.11. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. As a group, analysts expect that Ross Stores, Inc. will post 5.93 earnings per share for the current year.
Ross Stores Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be paid a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a yield of 1.07%. The ex-dividend date is Tuesday, June 11th. Ross Stores’s payout ratio is currently 24.79%.
Ross Stores announced that its Board of Directors has approved a stock buyback plan on Tuesday, March 5th that authorizes the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Analysts Set New Price Targets
A number of equities analysts have issued reports on ROST shares. The Goldman Sachs Group lifted their target price on shares of Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Citigroup boosted their price target on Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. UBS Group raised their price objective on Ross Stores from $145.00 to $147.00 and gave the stock a “neutral” rating in a report on Friday, May 24th. Loop Capital raised their price target on Ross Stores from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, TD Cowen increased their price objective on shares of Ross Stores from $173.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.58.
Get Our Latest Stock Report on Ross Stores
Insider Buying and Selling at Ross Stores
In other news, CMO Brian R. Morrow sold 10,734 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the completion of the transaction, the chief marketing officer now owns 62,711 shares of the company’s stock, valued at $9,155,806. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Michael K. Kobayashi sold 13,860 shares of Ross Stores stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $147.46, for a total transaction of $2,043,795.60. Following the sale, the insider now directly owns 61,657 shares in the company, valued at approximately $9,091,941.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Brian R. Morrow sold 10,734 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the completion of the transaction, the chief marketing officer now directly owns 62,711 shares of the company’s stock, valued at approximately $9,155,806. The disclosure for this sale can be found here. Insiders sold a total of 71,097 shares of company stock valued at $10,396,178 in the last ninety days. Company insiders own 2.10% of the company’s stock.
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 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.
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