Ross Stores, Inc. (NASDAQ:ROST) Shares Acquired by Ascent Group LLC

Ascent Group LLC increased its stake in Ross Stores, Inc. (NASDAQ:ROST) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,987 shares of the apparel retailer’s stock after acquiring an additional 832 shares during the period. Ascent Group LLC’s holdings in Ross Stores were worth $1,511,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Putney Financial Group LLC acquired a new stake in shares of Ross Stores in the fourth quarter worth approximately $44,000. Aurdan Capital Management LLC acquired a new stake in shares of Ross Stores in the fourth quarter worth approximately $8,516,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Ross Stores by 1.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,892,289 shares of the apparel retailer’s stock worth $286,247,000 after acquiring an additional 17,813 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Ross Stores by 22.2% in the fourth quarter. Mackenzie Financial Corp now owns 57,321 shares of the apparel retailer’s stock worth $8,671,000 after acquiring an additional 10,410 shares during the last quarter. Finally, Forum Financial Management LP boosted its position in shares of Ross Stores by 5.3% in the fourth quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer’s stock worth $223,000 after acquiring an additional 74 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, Chairman Michael Balmuth sold 11,261 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $131.60, for a total transaction of $1,481,947.60. Following the transaction, the chairman now owns 59,790 shares of the company’s stock, valued at approximately $7,868,364. This trade represents a 15.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Karen Fleming sold 5,339 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.73, for a total transaction of $671,272.47. Following the transaction, the chief marketing officer now directly owns 94,063 shares in the company, valued at approximately $11,826,540.99. The trade was a 5.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,398 shares of company stock valued at $4,439,950. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ROST. Wells Fargo & Company decreased their target price on shares of Ross Stores from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. reduced their price target on shares of Ross Stores from $161.00 to $141.00 and set an “overweight” rating on the stock in a research report on Friday. UBS Group reduced their price target on shares of Ross Stores from $168.00 to $163.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Loop Capital decreased their target price on shares of Ross Stores from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Friday. Finally, Barclays decreased their target price on shares of Ross Stores from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $158.67.

Ross Stores Stock Down 9.8%

ROST stock opened at $137.26 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. Ross Stores, Inc. has a fifty-two week low of $122.36 and a fifty-two week high of $163.60. The firm’s 50-day simple moving average is $138.19 and its 200 day simple moving average is $142.98. The stock has a market cap of $45.13 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.13 and a beta of 1.17.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. The business had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.94 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 EPS. As a group, sell-side analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.405 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.62 annualized dividend and a yield of 1.18%. Ross Stores’s payout ratio is 25.59%.

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.