Congress Asset Management Co. Takes Position in Ross Stores, Inc. $ROST

Congress Asset Management Co. bought a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 229,412 shares of the apparel retailer’s stock, valued at approximately $41,326,000. Congress Asset Management Co. owned about 0.07% of Ross Stores as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. American National Bank & Trust purchased a new stake in Ross Stores in the 3rd quarter valued at about $26,000. Grey Fox Wealth Advisors LLC acquired a new position in Ross Stores in the third quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Ross Stores by 162.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer’s stock worth $36,000 after buying an additional 148 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in Ross Stores during the second quarter worth about $38,000. Finally, True Wealth Design LLC increased its position in shares of Ross Stores by 152.0% during the third quarter. True Wealth Design LLC now owns 257 shares of the apparel retailer’s stock valued at $39,000 after acquiring an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on ROST shares. Citigroup boosted their target price on Ross Stores from $224.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. The Goldman Sachs Group raised their price target on Ross Stores from $214.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Barclays lifted their price objective on Ross Stores from $205.00 to $221.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. UBS Group set a $208.00 price objective on Ross Stores in a report on Thursday, March 5th. Finally, TD Cowen reissued a “buy” rating on shares of Ross Stores in a research note on Thursday, December 4th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $208.29.

Insiders Place Their Bets

In other news, CMO Karen Sykes sold 2,556 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $213.91, for a total transaction of $546,753.96. Following the completion of the sale, the chief marketing officer owned 103,945 shares in the company, valued at approximately $22,234,874.95. This represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patricia H. Mueller sold 1,881 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $213.13, for a total value of $400,897.53. Following the sale, the director directly owned 2,159 shares of the company’s stock, valued at $460,147.67. The trade was a 46.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.20% of the stock is owned by corporate insiders.

Ross Stores Trading Up 1.3%

Shares of NASDAQ:ROST opened at $215.80 on Wednesday. Ross Stores, Inc. has a 52 week low of $124.07 and a 52 week high of $216.80. The company’s 50 day moving average is $199.26 and its two-hundred day moving average is $177.57. The company has a market cap of $69.80 billion, a PE ratio of 32.65, a P/E/G ratio of 2.95 and a beta of 0.97. The company has a current ratio of 1.58, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Tuesday, March 3rd. The apparel retailer reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.10. The business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.42 billion. Ross Stores had a return on equity of 36.70% and a net margin of 9.43%.The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. Equities analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a dividend of $0.445 per share. The ex-dividend date is Friday, March 13th. This represents a $1.78 dividend on an annualized basis and a yield of 0.8%. This is an increase from Ross Stores’s previous quarterly dividend of $0.41. Ross Stores’s dividend payout ratio (DPR) is currently 26.93%.

Ross Stores Profile

Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.