Institute for Wealth Management LLC. Makes New Investment in Ross Stores, Inc. (NASDAQ:ROST)

Institute for Wealth Management LLC. purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,813 shares of the apparel retailer’s stock, valued at approximately $360,000.

Several other institutional investors have also recently made changes to their positions in ROST. Larson Financial Group LLC increased its holdings in Ross Stores by 152.9% during the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock worth $27,000 after buying an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of Ross Stores during the 4th quarter worth about $31,000. Putney Financial Group LLC acquired a new position in shares of Ross Stores during the 4th quarter worth about $44,000. Cary Street Partners Financial LLC acquired a new position in shares of Ross Stores during the 4th quarter worth about $48,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Ross Stores during the 4th quarter worth about $51,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Analyst Upgrades and Downgrades

ROST has been the topic of a number of recent analyst reports. Loop Capital lowered their price target on Ross Stores from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, May 23rd. Barclays lowered their price target on Ross Stores from $157.00 to $156.00 and set an “overweight” rating on the stock in a research report on Friday, May 23rd. Wall Street Zen lowered Ross Stores from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their target price on Ross Stores from $141.00 to $154.00 and gave the stock an “overweight” rating in a report on Friday, June 13th. Finally, Citigroup upgraded shares of Ross Stores from a “neutral” rating to a “buy” rating and set a $146.00 price objective on the stock in a report on Thursday, April 3rd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $159.53.

Insider Transactions at Ross Stores

In related news, CMO Karen Fleming sold 5,270 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $127.70, for a total transaction of $672,979.00. Following the sale, the chief marketing officer now owns 93,126 shares in the company, valued at approximately $11,892,190.20. This trade represents a 5.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Karen Sykes sold 5,036 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $130.48, for a total transaction of $657,097.28. Following the sale, the chief marketing officer now owns 110,365 shares in the company, valued at $14,400,425.20. This represents a 4.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,059 shares of company stock valued at $3,768,677. 2.20% of the stock is owned by corporate insiders.

Ross Stores Trading Down 0.3%

ROST stock opened at $127.67 on Friday. The company’s 50-day simple moving average is $140.98 and its 200 day simple moving average is $141.69. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $163.60. The company has a market capitalization of $41.76 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 2.69 and a beta of 1.14. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.55.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. The firm had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.94 billion. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 EPS. As a group, sell-side analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Tuesday, June 10th. Ross Stores’s dividend payout ratio is currently 25.59%.

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.