Cwm LLC Has $1.06 Million Position in Ross Stores, Inc. (NASDAQ:ROST)

Cwm LLC increased its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 14.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,690 shares of the apparel retailer’s stock after acquiring an additional 968 shares during the quarter. Cwm LLC’s holdings in Ross Stores were worth $1,064,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Ross Stores by 1.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,513 shares of the apparel retailer’s stock worth $4,223,000 after acquiring an additional 396 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Ross Stores during the 4th quarter worth approximately $231,000. Signaturefd LLC increased its holdings in shares of Ross Stores by 9.1% during the 4th quarter. Signaturefd LLC now owns 5,655 shares of the apparel retailer’s stock worth $783,000 after acquiring an additional 473 shares during the last quarter. abrdn plc increased its holdings in shares of Ross Stores by 65.6% during the 4th quarter. abrdn plc now owns 143,970 shares of the apparel retailer’s stock worth $19,924,000 after acquiring an additional 57,022 shares during the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new position in shares of Ross Stores during the 4th quarter worth approximately $1,175,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Stock Performance

NASDAQ:ROST opened at $133.61 on Friday. The stock’s 50-day simple moving average is $142.78 and its 200 day simple moving average is $135.42. The firm has a market capitalization of $44.99 billion, a PE ratio of 24.03, 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. Ross Stores, Inc. has a twelve month low of $99.00 and a twelve month high of $151.12.

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

Ross Stores Increases Dividend

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

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

Analyst Upgrades and Downgrades

ROST has been the subject of several recent research reports. Barclays boosted their price target on Ross Stores from $160.00 to $163.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. boosted their price target on Ross Stores from $150.00 to $163.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Morgan Stanley boosted their price target on Ross Stores from $155.00 to $161.00 and gave the company an “overweight” rating in a research note 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 research note on Wednesday, March 6th. Finally, Jefferies Financial Group boosted their price target on Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $155.21.

Insider Activity at Ross Stores

In related news, COO Michael J. Hartshorn sold 21,056 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the sale, the chief operating officer now directly owns 114,488 shares of the company’s stock, valued at $16,616,788.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Ross Stores news, 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 value of $1,567,164.00. Following the completion of the transaction, the chief marketing officer now directly owns 62,711 shares in the company, valued at $9,155,806. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael J. Hartshorn sold 21,056 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $145.14, for a total value of $3,056,067.84. Following the completion of the transaction, the chief operating officer now owns 114,488 shares of the company’s stock, valued at $16,616,788.32. The disclosure for this sale can be found here. Insiders have sold 71,097 shares of company stock valued at $10,396,178 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

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.