Eukles Asset Management Sells 135 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Eukles Asset Management decreased its position in Ross Stores, Inc. (NASDAQ:ROST) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,881 shares of the apparel retailer’s stock after selling 135 shares during the quarter. Eukles Asset Management’s holdings in Ross Stores were worth $2,059,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ROST. Norges Bank bought a new position in shares of Ross Stores during the fourth quarter valued at $369,081,000. Morgan Stanley boosted its position in Ross Stores by 84.6% in the fourth quarter. Morgan Stanley now owns 4,742,218 shares of the apparel retailer’s stock worth $550,429,000 after purchasing an additional 2,173,922 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Ross Stores by 21.0% during the 1st quarter. JPMorgan Chase & Co. now owns 6,036,224 shares of the apparel retailer’s stock valued at $640,624,000 after buying an additional 1,048,817 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Ross Stores by 19.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,121,854 shares of the apparel retailer’s stock valued at $465,563,000 after buying an additional 673,670 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Ross Stores by 14.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 5,355,761 shares of the apparel retailer’s stock valued at $600,541,000 after buying an additional 662,825 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Trading Up 0.5 %

ROST traded up $0.71 during trading hours on Friday, reaching $132.51. 1,127,265 shares of the company’s stock traded hands, compared to its average volume of 1,946,017. The firm has a 50-day moving average price of $144.19 and a 200 day moving average price of $134.41. Ross Stores, Inc. has a 52-week low of $99.00 and a 52-week high of $151.12. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $44.62 billion, a PE ratio of 23.71, a PEG ratio of 1.89 and a beta of 1.04.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the business earned $1.31 EPS. Ross Stores’s revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts predict that Ross Stores, Inc. will post 5.89 EPS for the current fiscal year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 1.11%. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 14th. Ross Stores’s dividend payout ratio is currently 26.44%.

Ross Stores declared that its Board of Directors has authorized a share repurchase plan on Tuesday, March 5th that permits the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization permits the apparel retailer to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ROST. JPMorgan Chase & Co. lifted their target price on Ross Stores from $150.00 to $163.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Jefferies Financial Group lifted their target price on Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Telsey Advisory Group lifted their target price on Ross Stores from $135.00 to $160.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. Robert W. Baird lifted their target price on Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Finally, Guggenheim lifted their target price on Ross Stores from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.21.

Insiders Place Their Bets

In other Ross Stores news, Director Patricia H. Mueller sold 2,265 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the completion of the sale, the director now directly owns 1,914 shares in the company, valued at approximately $278,257.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Ross Stores news, Director Patricia H. Mueller sold 2,265 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the completion of the sale, the director now directly owns 1,914 shares in the company, valued at approximately $278,257.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Larree M. Renda sold 4,168 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value of $616,405.52. Following the completion of the transaction, the director now directly owns 3,166 shares of the company’s stock, valued at $468,219.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,097 shares of company stock worth $10,396,178. 2.00% of the stock is currently owned by company insiders.

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.