Wealth Enhancement Advisory Services LLC Purchases 3,678 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 6.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,269 shares of the apparel retailer’s stock after buying an additional 3,678 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Ross Stores were worth $8,992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Ross Stores during the 4th quarter valued at about $523,185,000. First Trust Advisors LP lifted its stake in Ross Stores by 515.8% in the fourth quarter. First Trust Advisors LP now owns 1,756,881 shares of the apparel retailer’s stock valued at $243,135,000 after buying an additional 1,471,585 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Ross Stores by 1,437.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,026,367 shares of the apparel retailer’s stock valued at $142,039,000 after buying an additional 959,594 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Ross Stores in the fourth quarter valued at approximately $102,083,000. Finally, Wellington Management Group LLP increased its position in shares of Ross Stores by 19.5% during the third quarter. Wellington Management Group LLP now owns 4,121,854 shares of the apparel retailer’s stock worth $465,563,000 after acquiring an additional 673,670 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ROST shares. Loop Capital increased their target price on Ross Stores from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Guggenheim lifted their target price on Ross Stores from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, May 24th. The Goldman Sachs Group upped their price target on Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Citigroup lifted their price objective on shares of Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Evercore ISI increased their target price on shares of Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.06.

Ross Stores Price Performance

Ross Stores stock opened at $145.32 on Friday. The company has a market capitalization of $48.48 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.56 and a beta of 1.08. 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 12 month low of $107.30 and a 12 month high of $151.12. The stock’s 50 day moving average is $138.68 and its 200-day moving average is $140.42.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, topping the consensus estimate 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%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.09 EPS. Equities research analysts expect that Ross Stores, Inc. will post 5.97 EPS for the current year.

Ross Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were issued a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Tuesday, June 11th. Ross Stores’s dividend payout ratio is currently 24.79%.

Ross Stores announced that its board has authorized a stock buyback program on Tuesday, March 5th that permits the company to buyback $2.10 billion in shares. This buyback authorization permits the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other 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 directly owns 973 shares in the company, valued at $134,634.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.10% of the company’s stock.

Ross Stores 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.