Ross Stores, Inc. (NASDAQ:ROST) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC lifted its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,260 shares of the apparel retailer’s stock after buying an additional 354 shares during the period. Ballentine Partners LLC’s holdings in Ross Stores were worth $1,005,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. First Capital Advisors Group LLC. acquired a new stake in Ross Stores during the second quarter valued at approximately $27,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Ross Stores in the 4th quarter valued at approximately $29,000. Quarry LP purchased a new stake in shares of Ross Stores in the 1st quarter valued at approximately $29,000. Clearstead Advisors LLC lifted its position in shares of Ross Stores by 458.0% in the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock valued at $32,000 after acquiring an additional 229 shares in the last quarter. Finally, Rock Creek Group LP purchased a new stake in shares of Ross Stores in the 3rd quarter valued at approximately $35,000. Institutional investors own 86.86% of the company’s stock.

Insider Buying and Selling

In related news, Director Patricia H. Mueller sold 2,265 shares of the stock in a transaction dated 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 owns 1,914 shares in the company, valued at approximately $278,257.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ross Stores news, Director Patricia H. Mueller sold 2,265 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $278,257.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael K. Kobayashi sold 13,860 shares of the firm’s 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 owns 61,657 shares of the company’s stock, valued at approximately $9,091,941.22. The disclosure for this sale can be found here. Insiders sold 71,097 shares of company stock worth $10,396,178 in the last quarter. 2.00% of the stock is owned by corporate insiders.

Ross Stores Stock Performance

NASDAQ:ROST opened at $139.71 on Friday. Ross Stores, Inc. has a 1 year low of $99.00 and a 1 year high of $151.12. The firm’s fifty day simple moving average is $145.47 and its 200 day simple moving average is $132.70. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $47.04 billion, a PE ratio of 25.13, a PEG ratio of 2.01 and a beta of 1.04.

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

Ross Stores announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 5th that allows the company to buyback $2.10 billion in shares. This buyback authorization allows the apparel retailer to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.3675 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.05%. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. Ross Stores’s dividend payout ratio (DPR) is 26.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ROST shares. TD Cowen upped their price target 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. Loop Capital upped their price target on shares of Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. BMO Capital Markets upped their price objective on shares of Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. UBS Group upped their price objective on shares of Ross Stores from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Ross Stores from $150.00 to $163.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.21.

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