Ross Stores, Inc. (NASDAQ:ROST) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its holdings in Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 13.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,825 shares of the apparel retailer’s stock after buying an additional 1,685 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Ross Stores were worth $2,029,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ROST. Occidental Asset Management LLC purchased a new stake in Ross Stores during the first quarter valued at about $226,000. Lincoln Capital LLC acquired a new position in Ross Stores during the first quarter valued at approximately $201,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Ross Stores by 6.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 61,269 shares of the apparel retailer’s stock worth $8,992,000 after acquiring an additional 3,678 shares in the last quarter. Signet Financial Management LLC lifted its holdings in shares of Ross Stores by 2.0% during the 1st quarter. Signet Financial Management LLC now owns 27,052 shares of the apparel retailer’s stock valued at $3,970,000 after acquiring an additional 532 shares in the last quarter. Finally, Riverview Trust Co purchased a new stake in Ross Stores during the 1st quarter worth $26,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Trading Down 0.5 %

Ross Stores stock opened at $145.32 on Friday. The stock has a market cap of $48.48 billion, a P/E ratio of 24.51, a P/E/G ratio of 2.55 and a beta of 1.08. 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, Inc. has a 12 month low of $107.30 and a 12 month high of $151.12. The company’s fifty day simple moving average is $138.68 and its 200-day simple moving average is $140.42.

Ross Stores (NASDAQ:ROSTGet Free Report) last posted its earnings results 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. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same period in the previous year, the company earned $1.09 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts forecast that Ross Stores, Inc. will post 5.97 EPS for the current fiscal year.

Ross Stores declared that its board has approved a share repurchase 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Ross Stores Announces Dividend

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

Insider Activity

In related news, Director Patricia H. Mueller sold 941 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total transaction of $130,206.17. Following the transaction, the director now directly owns 973 shares in the company, valued at $134,634.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

ROST has been the subject of several analyst reports. BMO Capital Markets upped their target price on Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Robert W. Baird boosted their target price 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. Guggenheim raised their price target on shares of Ross Stores from $165.00 to $170.00 and gave the company a “buy” rating in a report on Friday, May 24th. Morgan Stanley upped their price objective on shares of Ross Stores from $159.00 to $161.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Finally, TD Cowen boosted their price target on Ross Stores from $173.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.06.

Check Out Our Latest Report 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 to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

Read More

Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROSTFree Report).

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

Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.