5,988 Shares in Ross Stores, Inc. (NASDAQ:ROST) Bought by Choreo LLC

Choreo LLC acquired a new stake 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 acquired 5,988 shares of the apparel retailer’s stock, valued at approximately $829,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Clearstead Advisors LLC boosted its position in shares of Ross Stores by 458.0% in 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 in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Ross Stores by 52.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 83 shares during the last quarter. Rock Creek Group LP bought a new position in shares of Ross Stores during the third quarter valued at $35,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Ross Stores in the 4th quarter worth about $51,000. Finally, Mendota Financial Group LLC bought a new position in Ross Stores in the 4th quarter worth about $61,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Evercore ISI raised their price objective on shares of Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Guggenheim raised their price target on shares of Ross Stores from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. TD Cowen boosted their price objective on shares of Ross Stores from $144.00 to $169.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Telsey Advisory Group increased their target price on Ross Stores from $135.00 to $160.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. boosted their price target on Ross Stores from $150.00 to $163.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ross Stores currently has an average rating of “Moderate Buy” and an average price target of $155.21.

Insider Activity

In related news, CMO Brian R. Morrow sold 10,734 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the completion of the sale, the chief marketing officer now owns 62,711 shares in the company, valued at $9,155,806. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CMO Brian R. Morrow sold 10,734 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was 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 directly owns 62,711 shares of the company’s stock, valued at approximately $9,155,806. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Patricia H. Mueller sold 2,265 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.38, for a total transaction of $329,285.70. Following the sale, the director now directly owns 1,914 shares of the company’s stock, valued at $278,257.32. The disclosure for this sale can be found here. Insiders have sold 71,097 shares of company stock worth $10,396,178 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Stock Performance

NASDAQ:ROST opened at $127.82 on Thursday. Ross Stores, Inc. has a 52-week low of $99.00 and a 52-week high of $151.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77. The firm has a market capitalization of $43.04 billion, a PE ratio of 22.99, a P/E/G ratio of 1.84 and a beta of 1.06. The stock has a 50-day simple moving average of $141.88 and a two-hundred day simple moving average of $135.76.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.19. The business 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%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 earnings per share. Analysts forecast that Ross Stores, Inc. will post 5.89 EPS for the current year.

Ross Stores Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.3675 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. This represents a $1.47 dividend on an annualized basis and a yield of 1.15%. Ross Stores’s dividend payout ratio (DPR) is currently 26.44%.

Ross Stores announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 5th that authorizes the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

About Ross Stores

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.