Wedmont Private Capital Buys 119 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Wedmont Private Capital boosted its stake in Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,764 shares of the apparel retailer’s stock after purchasing an additional 119 shares during the period. Wedmont Private Capital’s holdings in Ross Stores were worth $667,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROST. Kestra Advisory Services LLC boosted its position in Ross Stores by 23.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 11,389 shares of the apparel retailer’s stock valued at $1,286,000 after buying an additional 2,197 shares during the period. QRG Capital Management Inc. purchased a new stake in shares of Ross Stores during the third quarter worth about $1,062,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Ross Stores in the third quarter worth about $1,376,000. V Square Quantitative Management LLC purchased a new position in Ross Stores during the 3rd quarter valued at about $183,000. Finally, Dark Forest Capital Management LP bought a new position in Ross Stores during the 3rd quarter valued at approximately $1,064,000. Institutional investors own 86.86% of the company’s stock.

Insider Transactions at Ross Stores

In other Ross Stores news, Director Patricia H. Mueller sold 941 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total transaction of $130,206.17. Following the transaction, the director now owns 973 shares in the company, valued at approximately $134,634.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Ross Stores news, Director Patricia H. Mueller sold 941 shares of Ross Stores stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total value of $130,206.17. Following the completion of the sale, the director now owns 973 shares of the company’s stock, valued at approximately $134,634.01. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Larree M. Renda sold 4,168 shares of the stock in a transaction on Thursday, March 28th. The shares were 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 in the company, valued at $468,219.74. The disclosure for this sale can be found here. Insiders sold 48,717 shares of company stock worth $7,141,031 over the last quarter. 2.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ROST. TD Cowen lifted their price objective on Ross Stores from $173.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Citigroup boosted their price objective on shares of Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Loop Capital raised their target price 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. Jefferies Financial Group lifted their target price on shares of Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $160.00 price target on shares of Ross Stores in a research note on Friday, June 14th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $156.58.

Check Out Our Latest Analysis on ROST

Ross Stores Stock Up 0.6 %

Shares of ROST traded up $0.89 during trading hours on Friday, hitting $148.26. The company had a trading volume of 1,402,972 shares, compared to its average volume of 2,257,584. The stock has a market capitalization of $49.46 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 2.61 and a beta of 1.08. The firm has a fifty day moving average price of $136.96 and a 200-day moving average price of $139.75. Ross Stores, Inc. has a 52-week low of $106.98 and a 52-week 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.

Ross Stores (NASDAQ:ROSTGet Free Report) last released its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same period last year, the business earned $1.09 EPS. Ross Stores’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that Ross Stores, Inc. will post 5.97 EPS for the current fiscal year.

Ross Stores announced that its Board of Directors has initiated 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 purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Ross Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders 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 0.99%. The ex-dividend date is Tuesday, June 11th. Ross Stores’s payout ratio is 24.79%.

About Ross Stores

(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 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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