Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Belpointe Asset Management LLC

Belpointe Asset Management LLC trimmed its position in shares of Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 32.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,774 shares of the apparel retailer’s stock after selling 1,318 shares during the quarter. Belpointe Asset Management LLC’s holdings in Ross Stores were worth $384,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in Ross Stores by 3.4% in the fourth 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 period. Wellington Management Group LLP grew its position in 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 buying an additional 673,670 shares during the period. Norges Bank purchased a new position in Ross Stores in the fourth quarter valued at about $523,185,000. Northern Trust Corp lifted its position in shares of 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 period. Finally, Invesco Ltd. boosted its stake in shares of Ross Stores by 4.5% during the 3rd quarter. Invesco Ltd. now owns 2,229,488 shares of the apparel retailer’s stock worth $251,821,000 after acquiring an additional 95,386 shares in 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 news, Director Patricia H. Mueller sold 941 shares of Ross Stores stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total value of $130,206.17. Following the completion of the transaction, the director now owns 973 shares in the company, valued at approximately $134,634.01. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Patricia H. Mueller sold 941 shares of the firm’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 transaction, the director now directly owns 973 shares in the company, valued at approximately $134,634.01. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael J. Hartshorn sold 21,056 shares of Ross Stores 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 of the company’s stock, valued at $16,616,788.32. The disclosure for this sale can be found here. Insiders have sold 72,038 shares of company stock worth $10,526,384 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Ross Stores Stock Performance

Ross Stores stock opened at $144.15 on Friday. Ross Stores, Inc. has a 52 week low of $101.53 and a 52 week high of $151.12. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. The stock has a market cap of $48.54 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 2.53 and a beta of 1.08. The stock has a 50 day moving average of $135.96 and a 200-day moving average of $138.65.

Ross Stores (NASDAQ:ROSTGet Free Report) last posted its quarterly earnings data 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 the consensus estimate of $4.83 billion. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. On average, analysts expect that Ross Stores, Inc. will post 5.96 EPS for the current fiscal year.

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

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be issued a $0.3675 dividend. This represents a $1.47 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Tuesday, June 11th. Ross Stores’s dividend payout ratio is currently 24.79%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group lifted their price objective on Ross Stores from $145.00 to $147.00 and gave the stock a “neutral” rating in a report on Friday, May 24th. TD Cowen increased their price objective on shares of Ross Stores from $173.00 to $176.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Citigroup lifted their target price on shares of Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Barclays increased their price target on shares of Ross Stores from $163.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Finally, Jefferies Financial Group lifted their price objective on Ross Stores from $135.00 to $147.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.58.

Check Out Our Latest Report on ROST

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

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

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