Benjamin Edwards Inc. Makes New Investment in Ross Stores, Inc. (NASDAQ:ROST)

Benjamin Edwards Inc. acquired a new stake in Ross Stores, Inc. (NASDAQ:ROST) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,232 shares of the apparel retailer’s stock, valued at approximately $309,000.

Other institutional investors have also recently made changes to their positions in the company. Clearstead Advisors LLC lifted its position in shares of Ross Stores by 458.0% during the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock worth $32,000 after purchasing an additional 229 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Ross Stores by 52.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 83 shares during the last quarter. Rock Creek Group LP acquired a new position in Ross Stores in the third quarter valued at approximately $35,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Ross Stores during the fourth quarter worth approximately $51,000. Finally, Mendota Financial Group LLC purchased a new stake in shares of Ross Stores during the 4th quarter worth approximately $61,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Insider Buying and Selling at Ross Stores

In related news, Director Larree M. Renda sold 4,168 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total transaction of $616,405.52. Following the sale, the director now owns 3,166 shares of the company’s stock, valued at $468,219.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Michael J. Hartshorn sold 21,056 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 114,488 shares in the company, valued at $16,616,788.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Larree M. Renda sold 4,168 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total transaction of $616,405.52. Following the completion of the transaction, the director now directly owns 3,166 shares of the company’s stock, valued at approximately $468,219.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,097 shares of company stock valued at $10,396,178. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ROST. Jefferies Financial Group lifted their price target on shares of Ross Stores from $135.00 to $147.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Robert W. Baird raised their price target on Ross Stores from $145.00 to $162.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Citigroup boosted their price objective on Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Telsey Advisory Group raised their target price 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. Finally, Loop Capital upped their price target on shares of Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $155.21.

Ross Stores Price Performance

Ross Stores stock traded up $3.16 during mid-day trading on Friday, reaching $130.84. The company had a trading volume of 3,732,548 shares, compared to its average volume of 2,338,168. Ross Stores, Inc. has a 1 year low of $99.00 and a 1 year high of $151.12. The company has a market capitalization of $44.05 billion, a P/E ratio of 23.53, a P/E/G ratio of 1.82 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.77 and a quick ratio of 1.24. The stock’s 50-day simple moving average is $141.50 and its 200-day simple moving average is $135.71.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.81 billion. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. Ross Stores’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 EPS. On average, equities analysts predict that Ross Stores, Inc. will post 5.89 EPS for the current year.

Ross Stores announced that its Board of Directors has initiated a stock repurchase program on Tuesday, March 5th that allows the company to repurchase $2.10 billion in shares. This repurchase authorization allows the apparel retailer to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Thursday, March 14th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.34. Ross Stores’s dividend payout ratio is currently 26.44%.

Ross Stores Company Profile

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.