Park Avenue Securities LLC Buys 1,544 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Park Avenue Securities LLC lifted its position in Ross Stores, Inc. (NASDAQ:ROST) by 18.5% during the 1st quarter, HoldingsChannel reports. The firm owned 9,893 shares of the apparel retailer’s stock after acquiring an additional 1,544 shares during the quarter. Park Avenue Securities LLC’s holdings in Ross Stores were worth $1,264,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ROST. Larson Financial Group LLC raised its holdings in shares of Ross Stores by 152.9% during the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock worth $27,000 after acquiring an additional 107 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in Ross Stores during the fourth quarter valued at $31,000. Putney Financial Group LLC bought a new position in Ross Stores during the fourth quarter valued at $44,000. Cary Street Partners Financial LLC purchased a new position in shares of Ross Stores in the 4th quarter worth $48,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Ross Stores in the 4th quarter worth about $51,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ross Stores

In other Ross Stores news, COO Michael J. Hartshorn sold 7,492 shares of Ross Stores stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $127.69, for a total transaction of $956,653.48. Following the completion of the sale, the chief operating officer now directly owns 139,091 shares in the company, valued at $17,760,529.79. This trade represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Karen Fleming sold 5,339 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.73, for a total value of $671,272.47. Following the transaction, the chief marketing officer now directly owns 94,063 shares in the company, valued at approximately $11,826,540.99. The trade was a 5.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,398 shares of company stock valued at $4,439,950. 2.20% of the stock is currently owned by insiders.

Ross Stores Stock Performance

Shares of ROST stock opened at $136.39 on Thursday. The firm has a market cap of $44.85 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.13 and a beta of 1.14. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $141.51 and its 200 day moving average is $142.89.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.03. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.94 billion. During the same period last year, the business posted $1.46 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, June 10th. Ross Stores’s dividend payout ratio (DPR) is 25.59%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ROST shares. Citigroup upgraded Ross Stores from a “neutral” rating to a “buy” rating and set a $146.00 price target for the company in a research report on Thursday, April 3rd. Wall Street Zen downgraded Ross Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Wells Fargo & Company decreased their price target on Ross Stores from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Loop Capital dropped their price objective on shares of Ross Stores from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, May 23rd. Finally, Robert W. Baird cut their price objective on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $158.67.

About Ross Stores

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.