Ross Stores, Inc. (NASDAQ:ROST) Position Increased by Simplicity Solutions LLC

Simplicity Solutions LLC raised its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,498 shares of the apparel retailer’s stock after buying an additional 176 shares during the quarter. Simplicity Solutions LLC’s holdings in Ross Stores were worth $761,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Graypoint LLC lifted its stake in Ross Stores by 33.6% during the fourth quarter. Graypoint LLC now owns 3,704 shares of the apparel retailer’s stock valued at $513,000 after buying an additional 931 shares in the last quarter. NewEdge Wealth LLC lifted its stake in Ross Stores by 49.2% during the fourth quarter. NewEdge Wealth LLC now owns 4,660 shares of the apparel retailer’s stock valued at $645,000 after buying an additional 1,536 shares in the last quarter. Meitav Investment House Ltd. purchased a new stake in Ross Stores during the fourth quarter valued at about $351,000. Perigon Wealth Management LLC purchased a new stake in Ross Stores during the fourth quarter valued at about $224,000. Finally, Lawson Kroeker Investment Management Inc. NE lifted its stake in Ross Stores by 1.2% during the fourth quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,789 shares of the apparel retailer’s stock valued at $4,538,000 after buying an additional 396 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Michael K. Kobayashi sold 13,860 shares of Ross Stores stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.46, for a total value of $2,043,795.60. Following the transaction, the insider now owns 61,657 shares of the company’s stock, valued at $9,091,941.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Larree M. Renda sold 4,168 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $147.89, for a total transaction of $616,405.52. Following the transaction, the director now owns 3,166 shares of the company’s stock, valued at $468,219.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael K. Kobayashi sold 13,860 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.46, for a total transaction of $2,043,795.60. Following the transaction, the insider now directly owns 61,657 shares in the company, valued at approximately $9,091,941.22. The disclosure for this sale can be found here. Insiders have sold a total of 71,097 shares of company stock valued at $10,396,178 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ROST shares. TD Cowen increased their price target on shares of Ross Stores from $144.00 to $169.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Barclays increased their price target on shares of Ross Stores from $160.00 to $163.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. BMO Capital Markets increased their price target on shares of Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Guggenheim increased their price target on shares of Ross Stores from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Telsey Advisory Group increased their price target on shares of Ross Stores from $135.00 to $160.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $155.21.

Ross Stores Trading Up 0.1 %

Shares of ROST stock opened at $133.83 on Wednesday. Ross Stores, Inc. has a 12 month low of $99.00 and a 12 month high of $151.12. The company has a market cap of $45.06 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. 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 business’s 50 day moving average is $144.69 and its two-hundred day moving average is $134.44.

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

Ross Stores declared that its Board of Directors has initiated a share buyback program on Tuesday, March 5th that authorizes the company to buyback $2.10 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.3675 dividend. This is a positive change from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.10%. Ross Stores’s dividend payout ratio (DPR) is currently 26.44%.

Ross Stores 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.