Kapitalo Investimentos Ltda Makes New Investment in Ross Stores, Inc. (NASDAQ:ROST)

Kapitalo Investimentos Ltda acquired a new stake in Ross Stores, Inc. (NASDAQ:ROSTFree Report) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,674 shares of the apparel retailer’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ROST. Geneos Wealth Management Inc. raised its position in Ross Stores by 52.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 83 shares during the period. Rock Creek Group LP acquired a new position in Ross Stores during the third quarter valued at $35,000. Raleigh Capital Management Inc. raised its position in Ross Stores by 41.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after buying an additional 74 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new position in Ross Stores in the 4th quarter worth about $51,000. Finally, Mendota Financial Group LLC acquired a new position in Ross Stores in the 4th quarter worth about $61,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. BMO Capital Markets upped their price target on Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Evercore ISI raised their price target on Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Barclays raised their price target on Ross Stores from $163.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Morgan Stanley lifted their target price on Ross Stores from $159.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Finally, JPMorgan Chase & Co. lifted 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. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $156.58.

Check Out Our Latest Research Report on Ross Stores

Insider Activity at Ross Stores

In other news, CMO Brian R. Morrow sold 10,734 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the transaction, the chief marketing officer now owns 62,711 shares in the company, valued at approximately $9,155,806. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Michael J. Hartshorn sold 19,014 shares of Ross Stores stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $146.39, for a total transaction of $2,783,459.46. Following the completion of the sale, the chief operating officer now owns 119,962 shares in the company, valued at approximately $17,561,237.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Brian R. Morrow sold 10,734 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the transaction, the chief marketing officer now owns 62,711 shares of the company’s stock, valued at approximately $9,155,806. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,717 shares of company stock worth $7,141,031. 2.10% of the stock is owned by corporate insiders.

Ross Stores Stock Performance

NASDAQ:ROST traded down $0.97 during midday trading on Tuesday, reaching $149.41. The stock had a trading volume of 429,267 shares, compared to its average volume of 2,243,193. The firm has a fifty day simple moving average of $136.43 and a two-hundred day simple moving average of $139.52. Ross Stores, Inc. has a 12-month low of $106.47 and a 12-month high of $151.12. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 0.31. The stock has a market cap of $49.84 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.56 and a beta of 1.08.

Ross Stores (NASDAQ:ROSTGet Free Report) last posted its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, beating the consensus estimate of $1.35 by $0.11. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. On average, equities analysts expect that Ross Stores, Inc. will post 5.97 EPS for the current year.

Ross Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be issued a dividend of $0.3675 per share. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 0.98%. Ross Stores’s dividend payout ratio is currently 24.79%.

Ross Stores declared that its Board of Directors has initiated a share buyback plan on Tuesday, March 5th that permits the company to buyback $2.10 billion in shares. This buyback authorization permits the apparel retailer to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

About Ross Stores

(Free Report)

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.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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