Ross Stores, Inc. (NASDAQ:ROST) Stake Cut by Kwmg LLC

Kwmg LLC cut its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 0.8% during the first quarter, HoldingsChannel.com reports. The firm owned 48,575 shares of the apparel retailer’s stock after selling 386 shares during the period. Kwmg LLC’s holdings in Ross Stores were worth $7,129,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of Ross Stores during the first quarter valued at about $26,000. Rise Advisors LLC bought a new stake in shares of Ross Stores in the 1st quarter worth approximately $27,000. Geneos Wealth Management Inc. grew its holdings in shares of Ross Stores by 52.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 83 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in Ross Stores by 41.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock worth $35,000 after purchasing an additional 74 shares during the period. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Ross Stores in the fourth quarter worth about $51,000. 86.86% of the stock is currently owned by institutional investors.

Insider Transactions at Ross Stores

In related news, Director Larree M. Renda sold 4,168 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value of $616,405.52. Following the transaction, the director now directly owns 3,166 shares of the company’s stock, valued at approximately $468,219.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ross Stores news, Director Larree M. Renda sold 4,168 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $147.89, for a total transaction of $616,405.52. Following the completion of the sale, the director now owns 3,166 shares of the company’s stock, valued at $468,219.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patricia H. Mueller sold 941 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total value of $130,206.17. Following the completion of the transaction, the director now directly owns 973 shares of the company’s stock, valued at approximately $134,634.01. The disclosure for this sale can be found here. Insiders have sold a total of 18,969 shares of company stock valued at $2,790,407 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Ross Stores Price Performance

NASDAQ:ROST traded down $0.36 during mid-day trading on Wednesday, reaching $148.10. The stock had a trading volume of 789,019 shares, compared to its average volume of 2,262,541. The stock has a market capitalization of $49.40 billion, a P/E ratio of 25.07, a P/E/G ratio of 2.60 and a beta of 1.08. Ross Stores, Inc. has a one year low of $107.30 and a one year high of $151.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.54. The firm has a 50 day moving average price of $137.83 and a two-hundred day moving average price of $140.21.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, analysts expect that Ross Stores, Inc. will post 5.97 earnings per share for the current year.

Ross Stores announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 5th that authorizes the company to buyback $2.10 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be given a $0.3675 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 0.99%. Ross Stores’s dividend payout ratio is currently 24.79%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Robert W. Baird boosted their price objective on Ross Stores from $145.00 to $162.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Barclays lifted their price objective on shares of Ross Stores from $163.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Loop Capital boosted their price target on shares of Ross Stores from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Monday. Finally, TD Cowen upped their price target on shares of Ross Stores from $173.00 to $176.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $156.58.

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.