Ross Stores, Inc. (NASDAQ:ROST) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in Ross Stores, Inc. (NASDAQ:ROST) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,852 shares of the apparel retailer’s stock after acquiring an additional 2,316 shares during the period. Russell Investments Group Ltd.’s holdings in Ross Stores were worth $40,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its holdings in shares of Ross Stores by 52.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 83 shares during the last quarter. Clearstead Advisors LLC grew its stake in Ross Stores by 458.0% during the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock worth $32,000 after buying an additional 229 shares during the last quarter. Rock Creek Group LP acquired a new position in Ross Stores during the third quarter worth approximately $35,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Ross Stores in the fourth quarter valued at approximately $51,000. Finally, Mendota Financial Group LLC acquired a new stake in shares of Ross Stores in the fourth quarter valued at approximately $61,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Insider Buying and Selling at Ross Stores

In related news, COO Michael J. Hartshorn sold 21,056 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now directly owns 114,488 shares of the company’s stock, valued at approximately $16,616,788.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Michael J. Hartshorn sold 21,056 shares of Ross Stores stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.14, for a total transaction 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 approximately $16,616,788.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael K. Kobayashi sold 13,860 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $147.46, for a total transaction of $2,043,795.60. Following the completion of the sale, the insider now directly owns 61,657 shares in the company, valued at $9,091,941.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,097 shares of company stock valued at $10,396,178. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ROST shares. JPMorgan Chase & Co. lifted their target price on shares of Ross Stores from $150.00 to $163.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Morgan Stanley lifted their price objective on shares of Ross Stores from $155.00 to $161.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. TD Cowen upped their target price on shares of Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Citigroup raised their price target on Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Telsey Advisory Group upped their price objective 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. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $155.21.

Ross Stores Stock Down 1.9 %

Ross Stores stock opened at $131.06 on Tuesday. The stock’s 50 day moving average price is $142.52 and its 200 day moving average price is $135.69. Ross Stores, Inc. has a 1-year low of $99.00 and a 1-year high of $151.12. The company has a market cap of $44.13 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.77 and a quick ratio of 1.24.

Ross Stores (NASDAQ:ROST) last released its 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 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 the consensus estimate of $5.81 billion. During the same quarter last year, the company earned $1.31 earnings per share. Ross Stores’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, sell-side analysts predict that Ross Stores, Inc. will post 5.89 EPS for the current fiscal year.

Ross Stores announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 5th that authorizes the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization authorizes 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 leadership believes its shares are undervalued.

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.3675 per share. 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 1.12%. The ex-dividend date was Thursday, March 14th. Ross Stores’s dividend payout ratio is presently 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.