Toronto Dominion Bank grew its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 14.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 271,902 shares of the apparel retailer’s stock after buying an additional 34,575 shares during the period. Toronto Dominion Bank’s holdings in Ross Stores were worth $25,308,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Cetera Advisor Networks LLC grew its position in shares of Ross Stores by 0.9% in the first quarter. Cetera Advisor Networks LLC now owns 13,143 shares of the apparel retailer’s stock valued at $1,225,000 after purchasing an additional 116 shares during the period. Private Trust Co. NA grew its position in shares of Ross Stores by 2.1% in the first quarter. Private Trust Co. NA now owns 5,826 shares of the apparel retailer’s stock valued at $542,000 after purchasing an additional 120 shares during the period. BerganKDV Wealth Management LLC grew its position in shares of Ross Stores by 3.0% in the fourth quarter. BerganKDV Wealth Management LLC now owns 4,259 shares of the apparel retailer’s stock valued at $354,000 after purchasing an additional 126 shares during the period. Kaizen Advisory LLC grew its position in shares of Ross Stores by 14.5% in the fourth quarter. Kaizen Advisory LLC now owns 1,049 shares of the apparel retailer’s stock valued at $87,000 after purchasing an additional 133 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Ross Stores by 1.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 12,278 shares of the apparel retailer’s stock valued at $1,022,000 after purchasing an additional 145 shares during the period. 91.02% of the stock is owned by institutional investors.
Shares of ROST opened at $94.46 on Wednesday. The stock has a market cap of $34.34 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 2.00 and a beta of 0.89. Ross Stores, Inc. has a 12 month low of $75.91 and a 12 month high of $104.35. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 1.69.
Ross Stores declared that its Board of Directors has approved a share buyback program on Tuesday, March 5th that authorizes the company to buyback $2.55 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 7.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other Ross Stores news, insider Bernard G. Brautigan sold 19,384 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $93.56, for a total transaction of $1,813,567.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Michael Balmuth sold 25,689 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $90.77, for a total value of $2,331,790.53. Following the transaction, the chairman now owns 51,998 shares in the company, valued at approximately $4,719,858.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,054 shares of company stock worth $12,504,328. 2.30% of the stock is currently owned by insiders.
A number of equities research analysts have recently commented on ROST shares. Loop Capital lifted their price objective on Ross Stores to $105.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. Guggenheim reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Ross Stores in a research report on Tuesday, March 5th. Wells Fargo & Co lifted their price objective on Ross Stores from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. BidaskClub downgraded Ross Stores from a “hold” rating to a “sell” rating in a research report on Wednesday, March 13th. Finally, DA Davidson lifted their target price on Ross Stores to $92.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Ross Stores has a consensus rating of “Buy” and an average price target of $97.84.
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Ross Stores 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 brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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