Cambridge Investment Research Advisors Inc. Sells 1,471 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Cambridge Investment Research Advisors Inc. lowered its stake in shares of Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 9.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,710 shares of the apparel retailer’s stock after selling 1,471 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Ross Stores were worth $1,897,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROST. Jump Financial LLC bought a new stake in shares of Ross Stores during the third quarter worth $858,000. Merit Financial Group LLC acquired a new position in Ross Stores during the 3rd quarter valued at about $234,000. Keybank National Association OH boosted its stake in shares of Ross Stores by 40.8% in the 3rd quarter. Keybank National Association OH now owns 3,553 shares of the apparel retailer’s stock valued at $401,000 after purchasing an additional 1,030 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Ross Stores by 4.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,813 shares of the apparel retailer’s stock worth $431,000 after buying an additional 167 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Ross Stores during the third quarter worth approximately $250,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Trading Down 0.2 %

NASDAQ:ROST opened at $140.94 on Wednesday. The company has a market cap of $47.45 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 2.48 and a beta of 1.08. Ross Stores, Inc. has a twelve month low of $101.53 and a twelve month high of $151.12. The business has a 50 day moving average price of $136.07 and a two-hundred day moving average price of $138.57. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 0.31.

Ross Stores (NASDAQ:ROSTGet Free Report) last announced its earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, topping the consensus estimate of $1.35 by $0.11. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. As a group, analysts expect that Ross Stores, Inc. will post 5.96 EPS for the current fiscal year.

Ross Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be issued a dividend of $0.3675 per share. The ex-dividend date is Tuesday, June 11th. This represents a $1.47 annualized dividend and a yield of 1.04%. Ross Stores’s payout ratio is presently 24.79%.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Barclays raised their price objective on shares of Ross Stores from $163.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. BMO Capital Markets increased their target price on Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Citigroup raised their target price on 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 upped their price target on Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Evercore ISI lifted their price objective on shares of Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.58.

Check Out Our Latest Analysis on Ross Stores

Insider Activity at Ross Stores

In other Ross Stores news, COO Michael J. Hartshorn sold 21,056 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was 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 of the company’s stock, valued at approximately $16,616,788.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Patricia H. Mueller sold 941 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $134,634.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Michael J. Hartshorn sold 21,056 shares of Ross Stores stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the transaction, the chief operating officer now owns 114,488 shares of the company’s stock, valued at approximately $16,616,788.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,038 shares of company stock valued at $10,526,384. Insiders own 2.10% of the company’s stock.

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

See Also

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

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