Cwm LLC Boosts Stake in Ross Stores, Inc. (NASDAQ:ROST)

Cwm LLC increased its position in Ross Stores, Inc. (NASDAQ:ROST) by 27.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 9,814 shares of the apparel retailer’s stock after purchasing an additional 2,124 shares during the period. Cwm LLC’s holdings in Ross Stores were worth $1,440,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Ross Stores by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 28,569,718 shares of the apparel retailer’s stock valued at $3,953,763,000 after acquiring an additional 381,790 shares during the last quarter. Franklin Resources Inc. raised its stake in Ross Stores by 3.4% during the 4th quarter. Franklin Resources Inc. now owns 4,931,795 shares of the apparel retailer’s stock valued at $682,511,000 after acquiring an additional 161,202 shares during the last quarter. Wellington Management Group LLP raised its stake in Ross Stores by 14.6% during the 4th quarter. Wellington Management Group LLP now owns 4,722,885 shares of the apparel retailer’s stock valued at $653,600,000 after acquiring an additional 601,031 shares during the last quarter. Norges Bank purchased a new stake in Ross Stores during the 4th quarter valued at approximately $523,185,000. Finally, Northern Trust Corp raised its stake in Ross Stores by 1.9% during the 3rd quarter. Northern Trust Corp now owns 3,677,191 shares of the apparel retailer’s stock valued at $415,339,000 after acquiring an additional 68,518 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ross Stores

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 in the company, valued at approximately $9,155,806. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 in the company, valued at approximately $9,155,806. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Larree M. Renda sold 4,168 shares of the stock in a transaction on Thursday, March 28th. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,717 shares of company stock worth $7,141,031. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on ROST shares. Morgan Stanley upped their price objective on Ross Stores from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Jefferies Financial Group upped their price objective on Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Telsey Advisory Group reiterated a “market perform” rating and set a $160.00 target price on shares of Ross Stores in a research report on Friday, June 14th. Barclays boosted their target price on Ross Stores from $163.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Finally, Wells Fargo & Company boosted their target price on Ross Stores from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.58.

Ross Stores Stock Performance

ROST opened at $148.69 on Thursday. The stock’s 50 day simple moving average is $136.81 and its 200 day simple moving average is $139.70. The stock has a market cap of $49.60 billion, a P/E ratio of 25.07, a P/E/G ratio of 2.61 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.03. Ross Stores, Inc. has a 1-year low of $106.47 and a 1-year high of $151.12.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. Ross Stores’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 EPS. As a group, equities analysts anticipate that Ross Stores, Inc. will post 5.97 EPS for the current fiscal year.

Ross Stores declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 5th that allows the company to buyback $2.10 billion in outstanding shares. This buyback authorization allows the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Ross Stores Announces Dividend

The business 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 dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Tuesday, June 11th. Ross Stores’s dividend payout ratio (DPR) is presently 24.79%.

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.