Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 11.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,582 shares of the apparel retailer’s stock after selling 2,015 shares during the quarter. HighTower Advisors LLC’s holdings in Ross Stores were worth $2,357,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ROST. Larson Financial Group LLC grew its position 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 period. BOK Financial Private Wealth Inc. acquired a new position in Ross Stores during the fourth quarter worth about $31,000. ORG Partners LLC grew its position in Ross Stores by 434.1% during the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after buying an additional 191 shares during the period. Kestra Investment Management LLC acquired a new position in Ross Stores during the fourth quarter worth about $51,000. Finally, Oakworth Capital Inc. acquired a new position in Ross Stores during the fourth quarter worth about $57,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, CMO Karen Fleming sold 5,339 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.73, for a total transaction of $671,272.47. Following the completion of the sale, the chief marketing officer now owns 94,063 shares of the company’s stock, valued at approximately $11,826,540.99. The trade was a 5.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is owned by company insiders.

Ross Stores Price Performance

Shares of NASDAQ:ROST opened at $123.54 on Friday. The company has a market cap of $40.76 billion, a P/E ratio of 19.46, a P/E/G ratio of 2.13 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. Ross Stores, Inc. has a 52 week low of $122.36 and a 52 week high of $163.60. The business has a fifty day simple moving average of $139.96 and a 200-day simple moving average of $145.63.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. Equities research analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s payout ratio is 25.63%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ROST shares. Evercore ISI lowered their target price on shares of Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Loop Capital reduced their price target on shares of Ross Stores from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Robert W. Baird reduced their price target on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Barclays set a $150.00 price target on shares of Ross Stores in a report on Wednesday, March 5th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $165.00 price target (down previously from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ross Stores presently has a consensus rating of “Moderate Buy” and an average target price of $161.40.

Ross Stores Company 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.