5,516 Shares in Ross Stores, Inc. (NASDAQ:ROST) Bought by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,516 shares of the apparel retailer’s stock, valued at approximately $798,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its stake in shares of Ross Stores by 52.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 83 shares during the period. Rock Creek Group LP bought a new position in shares of Ross Stores in the third quarter valued at approximately $35,000. Raleigh Capital Management Inc. boosted its holdings in shares of Ross Stores by 41.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in shares of Ross Stores in the fourth quarter valued at approximately $51,000. Finally, Mendota Financial Group LLC bought a new position in shares of Ross Stores in the fourth quarter valued at approximately $61,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Stock Down 1.1 %

Ross Stores stock opened at $148.69 on Wednesday. The company has a market capitalization of $49.60 billion, a P/E ratio of 25.07, a P/E/G ratio of 2.64 and a beta of 1.08. The firm’s fifty day simple moving average is $136.60 and its 200-day simple moving average is $139.63. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. Ross Stores, Inc. has a 1-year low of $106.47 and a 1-year high of $151.12.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results 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. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.83 billion. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. Ross Stores’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 EPS. Sell-side analysts forecast that Ross Stores, Inc. will post 5.97 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, June 11th. This represents a $1.47 dividend on an annualized basis and a yield of 0.99%. Ross Stores’s payout ratio is presently 24.79%.

Ross Stores announced that its board has initiated a stock repurchase program on Tuesday, March 5th that authorizes the company to repurchase $2.10 billion in outstanding 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 generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

ROST has been the subject of several recent analyst reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $160.00 price objective on shares of Ross Stores in a report on Friday, June 14th. Citigroup raised their target price on shares of Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. The Goldman Sachs Group raised their target price on shares of Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a 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 report on Wednesday, March 6th. Finally, Wells Fargo & Company raised their target price on shares of Ross Stores from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.58.

Insider Activity at Ross Stores

In related news, Director Larree M. Renda sold 4,168 shares of the firm’s 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 approximately $468,219.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ross Stores news, Director Patricia H. Mueller sold 941 shares of the firm’s stock in a transaction 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 sale, the director now directly 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 accessible through the SEC website. Also, Director Larree M. Renda sold 4,168 shares of the firm’s stock in a transaction on 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 in the company, valued at $468,219.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,717 shares of company stock worth $7,141,031. 2.10% of the stock is owned by insiders.

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.