CVA Family Office LLC Makes New $123,000 Investment in Ross Stores, Inc. (NASDAQ:ROST)

CVA Family Office LLC acquired a new position in shares of Ross Stores, Inc. (NASDAQ:ROSTFree Report) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 890 shares of the apparel retailer’s stock, valued at approximately $123,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROST. First Capital Advisors Group LLC. bought a new position in Ross Stores during the second quarter worth $27,000. Resurgent Financial Advisors LLC bought a new position in Ross Stores during the fourth quarter worth $29,000. Quarry LP bought a new position in Ross Stores during the first quarter worth $29,000. Clearstead Advisors LLC boosted its position in shares of Ross Stores by 458.0% in the third quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock valued at $32,000 after acquiring an additional 229 shares during the period. Finally, Rock Creek Group LP bought a new stake in shares of Ross Stores in the third quarter valued at about $35,000. 86.86% of the stock is owned by institutional investors.

Ross Stores Stock Performance

Shares of ROST stock opened at $144.59 on Tuesday. The company has a market cap of $48.68 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 2.07 and a beta of 1.04. Ross Stores, Inc. has a 52 week low of $99.00 and a 52 week high of $151.12. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $144.27 and a 200-day moving average of $131.29.

Ross Stores (NASDAQ:ROSTGet Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, topping the consensus estimate of $1.63 by $0.19. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 EPS. On average, equities analysts forecast that Ross Stores, Inc. will post 5.89 earnings per share for the current year.

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

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.3675 per share. This is an increase from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.47 annualized dividend and a dividend yield of 1.02%. Ross Stores’s dividend payout ratio (DPR) is 26.44%.

Insider Activity at Ross Stores

In related news, Director Patricia H. Mueller sold 2,265 shares of Ross Stores stock in a transaction on Monday, March 18th. The shares were sold at an average price of $145.38, for a total value of $329,285.70. Following the completion of the sale, the director now owns 1,914 shares of the company’s stock, valued at approximately $278,257.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Michael J. Hartshorn sold 21,056 shares of Ross Stores stock in a transaction on 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 sale, 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 legal filing with the SEC, which is accessible through the SEC website. Also, Director Patricia H. Mueller sold 2,265 shares of Ross Stores stock in a transaction on Monday, March 18th. The shares were sold at an average price of $145.38, for a total transaction of $329,285.70. Following the completion of the sale, the director now directly owns 1,914 shares of the company’s stock, valued at approximately $278,257.32. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ROST. Jefferies Financial Group boosted their target price on shares of Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. BMO Capital Markets boosted their target price on shares of Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. TD Cowen boosted their target price on shares of Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. UBS Group boosted their price target on Ross Stores from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Finally, The Goldman Sachs Group boosted their price target on Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.21.

Check Out Our Latest Report on ROST

Ross Stores Profile

(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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

Further Reading

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

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