STA Wealth Management LLC Sells 2,642 Shares of Ross Stores, Inc. (ROST)
STA Wealth Management LLC lessened its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 28.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,745 shares of the apparel retailer’s stock after selling 2,642 shares during the period. STA Wealth Management LLC’s holdings in Ross Stores were worth $541,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new position in shares of Ross Stores in the fourth quarter worth about $132,000. Zions Bancorporation boosted its stake in shares of Ross Stores by 338.9% in the third quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock worth $137,000 after acquiring an additional 1,637 shares during the period. Sit Investment Associates Inc. boosted its stake in shares of Ross Stores by 255.1% in the fourth quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock worth $152,000 after acquiring an additional 1,365 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Ross Stores in the fourth quarter worth about $159,000. Finally, Financial Gravity Companies Inc. bought a new position in shares of Ross Stores in the fourth quarter worth about $164,000. 89.58% of the stock is owned by institutional investors and hedge funds.
Ross Stores, Inc. (NASDAQ:ROST) opened at $77.65 on Wednesday. Ross Stores, Inc. has a one year low of $52.85 and a one year high of $85.66. The company has a market capitalization of $29,207.42, a P/E ratio of 22.88, a P/E/G ratio of 1.90 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 1.64.
Ross Stores announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the apparel retailer to purchase shares 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.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Monday, March 19th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, March 16th. This is an increase from Ross Stores’s previous quarterly dividend of $0.16. This represents a $0.90 dividend on an annualized basis and a yield of 1.16%. Ross Stores’s dividend payout ratio is 18.03%.
A number of research firms have recently weighed in on ROST. BidaskClub raised Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, January 24th. Nomura reaffirmed a “buy” rating and issued a $90.00 price objective (up previously from $80.00) on shares of Ross Stores in a research note on Wednesday, January 17th. Bank of America set a $94.00 price objective on Ross Stores and gave the stock a “buy” rating in a research note on Tuesday, March 6th. Royal Bank of Canada set a $82.00 price objective on Ross Stores and gave the stock a “hold” rating in a research note on Tuesday, March 6th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $78.00 price objective on shares of Ross Stores in a research note on Wednesday, March 7th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $81.86.
Ross Stores Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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