Meeder Advisory Services Inc. Boosts Stake in Ross Stores, Inc. (NASDAQ:ROST)

Meeder Advisory Services Inc. lifted its position in Ross Stores, Inc. (NASDAQ:ROST) by 8.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,265 shares of the apparel retailer’s stock after buying an additional 411 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Ross Stores were worth $729,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Capital Advisors Group LLC. purchased a new stake in shares of Ross Stores in the 2nd quarter valued at $27,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Ross Stores in the 4th quarter valued at $29,000. Quarry LP purchased a new stake in shares of Ross Stores in the 1st quarter valued at $29,000. Clearstead Advisors LLC grew its stake in Ross Stores by 458.0% during the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock worth $32,000 after purchasing an additional 229 shares in the last quarter. Finally, Rock Creek Group LP acquired a new position in Ross Stores during the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Citigroup boosted their target price on Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group boosted their target price on Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Loop Capital boosted their target price on Ross Stores from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Telsey Advisory Group upped their price objective on Ross Stores from $135.00 to $160.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. Finally, Robert W. Baird upped their price objective on Ross Stores from $145.00 to $162.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.21.

Ross Stores Stock Up 0.5 %

ROST opened at $140.27 on Tuesday. The business has a 50 day moving average price of $145.35 and a two-hundred day moving average price of $133.33. 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 company has a market cap of $47.23 billion, a PE ratio of 25.23, a P/E/G ratio of 1.99 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.

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

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.3675 per share. The ex-dividend date was Thursday, March 14th. This is an increase 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 is currently 26.44%.

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

Insider Transactions at Ross Stores

In other news, COO Michael J. Hartshorn sold 21,056 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.14, for a total transaction of $3,056,067.84. Following the completion of the transaction, the chief operating officer now directly owns 114,488 shares of the company’s stock, valued at approximately $16,616,788.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Michael J. Hartshorn sold 21,056 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.14, for a total transaction of $3,056,067.84. Following the completion of the transaction, the chief operating officer now directly owns 114,488 shares of the company’s stock, valued at approximately $16,616,788.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Patricia H. Mueller sold 2,265 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the transaction, the director now directly owns 1,914 shares of the company’s stock, valued at $278,257.32. The disclosure for this sale can be found here. In the last three months, insiders sold 71,097 shares of company stock valued at $10,396,178. Corporate insiders own 2.00% of the company’s stock.

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.