1,663 Shares in Ross Stores, Inc. (NASDAQ:ROST) Bought by Balentine LLC

Balentine LLC bought a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,663 shares of the apparel retailer’s stock, valued at approximately $230,000.

A number of other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in Ross Stores by 19.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,121,854 shares of the apparel retailer’s stock worth $465,563,000 after buying an additional 673,670 shares during the last quarter. Norges Bank purchased a new stake in shares of Ross Stores in the 4th quarter valued at about $523,185,000. Northern Trust Corp lifted its holdings in shares of Ross Stores by 1.9% in the 3rd quarter. Northern Trust Corp now owns 3,677,191 shares of the apparel retailer’s stock valued at $415,339,000 after purchasing an additional 68,518 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Ross Stores by 4.5% in the 3rd quarter. Invesco Ltd. now owns 2,229,488 shares of the apparel retailer’s stock valued at $251,821,000 after purchasing an additional 95,386 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Ross Stores by 12.6% in the 3rd quarter. Royal Bank of Canada now owns 2,215,353 shares of the apparel retailer’s stock valued at $250,224,000 after purchasing an additional 247,513 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Patricia H. Mueller sold 2,265 shares of the company’s 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 sale, the director now owns 1,914 shares in the company, valued at approximately $278,257.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Ross Stores news, COO Michael J. Hartshorn sold 21,056 shares of the stock in a transaction 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 sale, the chief operating officer now owns 114,488 shares in the company, valued at approximately $16,616,788.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Patricia H. Mueller sold 2,265 shares of the 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 sale, the director now owns 1,914 shares in the company, valued at approximately $278,257.32. The disclosure for this sale can be found here. Insiders have sold a total of 71,097 shares of company stock worth $10,396,178 in the last quarter. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

ROST has been the subject of several research reports. Loop Capital boosted their target price on Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. BMO Capital Markets boosted their target price on Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Morgan Stanley reduced their target price on Ross Stores from $161.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Barclays boosted their target price on Ross Stores from $160.00 to $163.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Finally, Robert W. Baird boosted their target price on Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.11.

Ross Stores Stock Performance

NASDAQ ROST opened at $131.86 on Friday. 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 business’s 50 day moving average is $136.91 and its two-hundred day moving average is $137.42. Ross Stores, Inc. has a 12-month low of $100.66 and a 12-month high of $151.12. The stock has a market capitalization of $44.40 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.98 and a beta of 1.06.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.11. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. Research analysts expect that Ross Stores, Inc. will post 5.89 EPS for the current year.

Ross Stores declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 5th that allows the company to buyback $2.10 billion in outstanding shares. This buyback authorization allows the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be issued a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Tuesday, June 11th. Ross Stores’s dividend payout ratio is currently 26.44%.

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