Signaturefd LLC Raises Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Signaturefd LLC grew its position in Ross Stores, Inc. (NASDAQ:ROST) by 9.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,655 shares of the apparel retailer’s stock after acquiring an additional 473 shares during the quarter. Signaturefd LLC’s holdings in Ross Stores were worth $783,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. abrdn plc grew its position in Ross Stores by 65.6% during the 4th quarter. abrdn plc now owns 143,970 shares of the apparel retailer’s stock worth $19,924,000 after purchasing an additional 57,022 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new position in shares of Ross Stores during the fourth quarter worth about $1,175,000. Greenleaf Trust increased its position in Ross Stores by 1.6% in the 4th quarter. Greenleaf Trust now owns 5,133 shares of the apparel retailer’s stock valued at $710,000 after acquiring an additional 80 shares during the period. HTLF Bank purchased a new stake in Ross Stores during the 4th quarter valued at approximately $1,094,000. Finally, Fidelis Capital Partners LLC lifted its position in Ross Stores by 17.7% during the 4th quarter. Fidelis Capital Partners LLC now owns 3,266 shares of the apparel retailer’s stock worth $452,000 after acquiring an additional 490 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Telsey Advisory Group upped their price objective 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. Evercore ISI lifted their target price on shares of Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. increased their price target on shares of Ross Stores from $150.00 to $163.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, Loop Capital lifted their price objective on Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a 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, Ross Stores currently has an average rating of “Moderate Buy” and a consensus target price of $155.21.

Insider Buying and Selling at Ross Stores

In other news, COO Michael J. Hartshorn sold 21,056 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ross Stores news, CMO Brian R. Morrow sold 10,734 shares of Ross Stores stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total value of $1,567,164.00. Following the transaction, the chief marketing officer now owns 62,711 shares in the company, valued at approximately $9,155,806. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michael J. Hartshorn sold 21,056 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the sale, the chief operating officer now owns 114,488 shares of the company’s stock, valued at $16,616,788.32. The disclosure for this sale can be found here. In the last three months, insiders sold 71,097 shares of company stock worth $10,396,178. Insiders own 2.00% of the company’s stock.

Ross Stores Stock Performance

NASDAQ ROST opened at $133.77 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45. Ross Stores, Inc. has a fifty-two week low of $99.00 and a fifty-two week high of $151.12. The business has a fifty day moving average of $143.71 and a 200-day moving average of $135.01. The stock has a market cap of $45.04 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04.

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

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.3675 dividend. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. This represents a $1.47 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, March 14th. Ross Stores’s payout ratio is presently 26.44%.

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

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 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.