SG Americas Securities LLC Has $2.48 Million Holdings in Ross Stores, Inc. (NASDAQ:ROST)

SG Americas Securities LLC lessened its stake in Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 10.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 17,942 shares of the apparel retailer’s stock after selling 1,983 shares during the quarter. SG Americas Securities LLC’s holdings in Ross Stores were worth $2,483,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ROST. NBC Securities Inc. bought a new stake in shares of Ross Stores in the third quarter worth $503,000. Arrow Investment Advisors LLC bought a new stake in shares of Ross Stores in the second quarter worth $205,000. California Public Employees Retirement System lifted its position in shares of Ross Stores by 4.7% in the third quarter. California Public Employees Retirement System now owns 673,713 shares of the apparel retailer’s stock worth $76,096,000 after purchasing an additional 30,056 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Ross Stores in the third quarter worth $8,322,000. Finally, Vinva Investment Management Ltd bought a new stake in shares of Ross Stores in the third quarter worth $2,422,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Stock Performance

NASDAQ ROST opened at $144.57 on Wednesday. The firm has a 50-day moving average of $144.43 and a 200-day moving average of $131.47. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77. The stock has a market cap of $48.67 billion, a PE ratio of 26.00, a P/E/G ratio of 2.07 and a beta of 1.04. Ross Stores, Inc. has a 52-week low of $99.00 and a 52-week high of $151.12.

Ross Stores (NASDAQ:ROSTGet Free Report) last posted its earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.19. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the company posted $1.31 EPS. Ross Stores’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Ross Stores, Inc. will post 5.89 EPS for the current year.

Ross Stores declared that its board has approved a stock repurchase plan on Tuesday, March 5th that permits the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization permits the apparel retailer to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Ross Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 1.02%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, March 14th. Ross Stores’s dividend payout ratio (DPR) is currently 26.44%.

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 21,056 shares of the firm’s stock in a transaction dated 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 directly owns 114,488 shares of the company’s stock, valued at $16,616,788.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Ross Stores news, Director Patricia H. Mueller sold 2,265 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $145.38, for a total value of $329,285.70. Following the transaction, the director now directly owns 1,914 shares of the company’s stock, valued at approximately $278,257.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Michael J. Hartshorn sold 21,056 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 114,488 shares in the company, valued at $16,616,788.32. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ROST shares. The Goldman Sachs Group boosted their price objective on shares of Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Robert W. Baird upped their price target on shares of Ross Stores from $145.00 to $162.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Telsey Advisory Group upped their price target on shares of Ross Stores from $135.00 to $160.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. Morgan Stanley upped their price target on shares of Ross Stores from $155.00 to $161.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Finally, Guggenheim upped their price target on shares of Ross Stores from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Ross Stores has a consensus rating of “Moderate Buy” and an average price target of $155.21.

Read Our Latest Stock Analysis on ROST

Ross Stores Profile

(Free Report)

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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

See Also

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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