Ross Stores, Inc. (NASDAQ:ROST) Stock Position Decreased by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,247 shares of the apparel retailer’s stock after selling 4,504 shares during the period. Corient Private Wealth LLC’s holdings in Ross Stores were worth $21,899,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ROST. Clearstead Advisors LLC lifted its holdings in shares of Ross Stores by 458.0% in the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock worth $32,000 after purchasing an additional 229 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Ross Stores by 52.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after buying an additional 83 shares during the period. Rock Creek Group LP bought a new stake in Ross Stores in the third quarter valued at $35,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Ross Stores during the fourth quarter valued at $51,000. Finally, Mendota Financial Group LLC bought a new position in shares of Ross Stores during the fourth quarter worth about $61,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ROST shares. UBS Group boosted their target price on shares of Ross Stores from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group increased their price objective on Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. BMO Capital Markets raised their target price on Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. boosted their price target on Ross Stores from $150.00 to $163.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Finally, Citigroup increased their price target on Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $155.21.

Ross Stores Price Performance

NASDAQ ROST opened at $131.86 on Friday. Ross Stores, Inc. has a 1 year low of $100.66 and a 1 year high of $151.12. The business’s fifty day moving average is $136.91 and its two-hundred day moving average is $137.42. The stock has a market capitalization of $44.40 billion, a P/E ratio of 23.72, a P/E/G ratio of 1.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77.

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

Ross Stores Dividend Announcement

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

Ross Stores announced that its board has authorized a stock buyback program on Tuesday, March 5th that authorizes the company to repurchase $2.10 billion in shares. This repurchase authorization authorizes the apparel retailer to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Ross Stores

In related news, Director Patricia H. Mueller sold 2,265 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.38, for a total transaction of $329,285.70. Following the transaction, the director now directly owns 1,914 shares of the company’s stock, valued at $278,257.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Patricia H. Mueller sold 2,265 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the transaction, the director now owns 1,914 shares in the company, valued at $278,257.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael J. Hartshorn sold 21,056 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $145.14, for a total transaction of $3,056,067.84. Following the transaction, the chief operating officer now owns 114,488 shares in the company, valued at approximately $16,616,788.32. The disclosure for this sale can be found here. Insiders sold a total of 71,097 shares of company stock valued at $10,396,178 over the last quarter. Company insiders own 2.10% of the company’s stock.

About Ross Stores

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.