Venturi Wealth Management LLC Acquires 2,051 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Venturi Wealth Management LLC increased its position in Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 64.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,235 shares of the apparel retailer’s stock after buying an additional 2,051 shares during the period. Venturi Wealth Management LLC’s holdings in Ross Stores were worth $724,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ROST. Fairfield Bush & CO. purchased a new stake in shares of Ross Stores in the first quarter worth about $87,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Ross Stores in the first quarter worth about $200,000. Cibc World Market Inc. lifted its position in shares of Ross Stores by 5.7% in the first quarter. Cibc World Market Inc. now owns 20,004 shares of the apparel retailer’s stock worth $1,810,000 after buying an additional 1,085 shares in the last quarter. Vontobel Holding Ltd. raised its position in Ross Stores by 27.4% during the first quarter. Vontobel Holding Ltd. now owns 12,174 shares of the apparel retailer’s stock valued at $1,128,000 after purchasing an additional 2,615 shares during the period. Finally, Sei Investments Co. raised its position in Ross Stores by 0.9% during the first quarter. Sei Investments Co. now owns 163,788 shares of the apparel retailer’s stock valued at $14,826,000 after purchasing an additional 1,470 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ross Stores 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 transaction of $1,567,164.00. Following the sale, the chief marketing officer now owns 62,711 shares of the company’s stock, valued at approximately $9,155,806. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 of the company’s stock, valued at approximately $16,616,788.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Brian R. Morrow sold 10,734 shares of the stock in a transaction 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 sale, the chief marketing officer now directly owns 62,711 shares in the company, valued at approximately $9,155,806. The disclosure for this sale can be found here. Insiders have sold a total of 71,097 shares of company stock valued at $10,396,178 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Ross Stores Stock Down 1.5 %

Shares of NASDAQ:ROST opened at $141.52 on Thursday. Ross Stores, Inc. has a 52-week low of $99.00 and a 52-week high of $151.12. The stock has a market cap of $47.65 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 2.04 and a beta of 1.04. The business’s 50 day moving average is $145.47 and its 200 day moving average is $132.70. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45.

Ross Stores (NASDAQ:ROSTGet Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.19. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter 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. Sell-side analysts predict that Ross Stores, Inc. will post 5.89 EPS for the current year.

Ross Stores announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 5th that allows the company to buyback $2.10 billion in shares. This buyback authorization allows the apparel retailer to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Ross Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.3675 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.47 annualized dividend and a yield of 1.04%. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. Ross Stores’s dividend payout ratio is 26.44%.

Analyst Ratings Changes

A number of brokerages have issued reports on ROST. Evercore ISI upped their price objective on Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Robert W. Baird upped their price objective on Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. TD Cowen upped their price objective on Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Telsey Advisory Group upped their price objective on Ross Stores from $135.00 to $160.00 and gave the company a “market perform” rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley upped their price objective on Ross Stores from $155.00 to $161.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $155.21.

Get Our Latest Research Report on Ross Stores

Ross Stores Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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