Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by UMB Bank n.a.

UMB Bank n.a. lessened its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,079 shares of the apparel retailer’s stock after selling 106 shares during the quarter. UMB Bank n.a.’s holdings in Ross Stores were worth $703,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ROST. First Capital Advisors Group LLC. acquired a new position in Ross Stores in the second quarter worth approximately $27,000. Resurgent Financial Advisors LLC acquired a new position in Ross Stores in the fourth quarter worth approximately $29,000. Quarry LP acquired a new position in Ross Stores in the first quarter worth approximately $29,000. Clearstead Advisors LLC grew its position in Ross Stores by 458.0% in the third quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock worth $32,000 after buying an additional 229 shares during the last quarter. Finally, Rock Creek Group LP acquired a new position in Ross Stores in the third quarter worth approximately $35,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ROST. The Goldman Sachs Group raised their price objective on shares of Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. raised their price objective on shares of Ross Stores from $150.00 to $163.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Loop Capital raised their price objective on shares of Ross Stores from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Evercore ISI raised their price objective on shares of Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Ross Stores from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $155.21.

Insiders Place Their Bets

In other Ross Stores news, Director Larree M. Renda sold 4,168 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $147.89, for a total value of $616,405.52. Following the sale, the director now directly owns 3,166 shares in the company, valued at $468,219.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related 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 sale, the chief marketing officer now directly owns 62,711 shares in the company, valued at $9,155,806. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Larree M. Renda sold 4,168 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total transaction of $616,405.52. Following the sale, the director now owns 3,166 shares in the company, valued at $468,219.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,097 shares of company stock worth $10,396,178. Company insiders own 2.00% of the company’s stock.

Ross Stores Stock Performance

NASDAQ:ROST opened at $139.71 on Friday. 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 market capitalization of $47.04 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 2.01 and a beta of 1.04. Ross Stores, Inc. has a 12-month low of $99.00 and a 12-month high of $151.12. The firm has a 50-day moving average price of $145.47 and a 200 day moving average price of $132.70.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, beating the consensus estimate of $1.63 by $0.19. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the firm earned $1.31 earnings per share. Ross Stores’s revenue was up 15.5% compared to the same quarter last year. Research analysts anticipate that Ross Stores, Inc. will post 5.89 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

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

Ross Stores declared that its board has authorized a share repurchase plan on Tuesday, March 5th that allows the company to repurchase $2.10 billion in shares. This repurchase authorization allows the apparel retailer to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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