Beacon Pointe Advisors LLC Sells 148 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Beacon Pointe Advisors LLC cut its position in Ross Stores, Inc. (NASDAQ:ROST) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,450 shares of the apparel retailer’s stock after selling 148 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Ross Stores were worth $616,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its stake in Ross Stores by 52.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 83 shares in the last quarter. Clearstead Advisors LLC lifted its holdings 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 worth $32,000 after buying an additional 229 shares in the last quarter. Rock Creek Group LP bought a new position in shares of Ross Stores in the third quarter valued at approximately $35,000. McGlone Suttner Wealth Management Inc. bought a new stake in Ross Stores during the 4th quarter worth approximately $51,000. Finally, Mendota Financial Group LLC purchased a new position in shares of Ross Stores during the 4th quarter valued at $61,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Price Performance

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 company has a market cap of $44.40 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. The stock has a fifty day simple moving average of $136.91 and a two-hundred day simple moving average of $137.42. Ross Stores, Inc. has a 12-month low of $100.66 and a 12-month high of $151.12.

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

Ross Stores announced that its Board of Directors has approved a share repurchase program on Tuesday, March 5th that authorizes the company to repurchase $2.10 billion in shares. This repurchase authorization authorizes the apparel retailer to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be given a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Tuesday, June 11th. Ross Stores’s dividend payout ratio (DPR) is presently 26.44%.

Insider Buying and Selling at Ross Stores

In other news, CMO Brian R. Morrow sold 10,734 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total value of $1,567,164.00. Following the sale, the chief marketing officer now directly owns 62,711 shares of the company’s stock, valued at $9,155,806. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CMO Brian R. Morrow sold 10,734 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total value of $1,567,164.00. Following the completion of the transaction, the chief marketing officer now directly owns 62,711 shares in the company, valued at approximately $9,155,806. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael K. Kobayashi sold 13,860 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $147.46, for a total value of $2,043,795.60. Following the sale, the insider now owns 61,657 shares in the company, valued at $9,091,941.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,097 shares of company stock worth $10,396,178. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ROST shares. Guggenheim upped their price objective on shares of Ross Stores from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. TD Cowen increased their target price on Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $160.00 price target on shares of Ross Stores in a research note on Friday, May 17th. Citigroup increased their price objective on Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Robert W. Baird lifted their price target on shares of Ross Stores from $145.00 to $162.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $155.11.

Ross Stores Company 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.