Somerset Trust Co Sells 294 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Somerset Trust Co trimmed its holdings in shares of Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,518 shares of the apparel retailer’s stock after selling 294 shares during the quarter. Somerset Trust Co’s holdings in Ross Stores were worth $2,277,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Ross Stores by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 28,569,718 shares of the apparel retailer’s stock valued at $3,953,763,000 after buying an additional 381,790 shares during the period. Franklin Resources Inc. grew its position in Ross Stores by 3.4% during the fourth quarter. Franklin Resources Inc. now owns 4,931,795 shares of the apparel retailer’s stock valued at $682,511,000 after buying an additional 161,202 shares during the period. Wellington Management Group LLP lifted its holdings in Ross Stores by 14.6% during the fourth quarter. Wellington Management Group LLP now owns 4,722,885 shares of the apparel retailer’s stock valued at $653,600,000 after purchasing an additional 601,031 shares in the last quarter. Norges Bank purchased a new position in Ross Stores during the fourth quarter valued at approximately $523,185,000. Finally, Northern Trust Corp lifted its holdings in Ross Stores by 1.9% during the third quarter. Northern Trust Corp now owns 3,677,191 shares of the apparel retailer’s stock valued at $415,339,000 after purchasing an additional 68,518 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on ROST shares. Wells Fargo & Company lifted their price target on shares of Ross Stores from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, May 24th. JPMorgan Chase & Co. boosted their price target on shares of Ross Stores from $150.00 to $163.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. The Goldman Sachs Group boosted their price target on shares of Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. TD Cowen boosted their price target on shares of Ross Stores from $173.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Finally, Citigroup boosted their price target on shares of Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.58.

Check Out Our Latest Research Report on ROST

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 19,014 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $146.39, for a total value of $2,783,459.46. Following the transaction, the chief operating officer now owns 119,962 shares in the company, valued at approximately $17,561,237.18. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, COO Michael J. Hartshorn sold 19,014 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $146.39, for a total value of $2,783,459.46. Following the transaction, the chief operating officer now owns 119,962 shares in the company, valued at approximately $17,561,237.18. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Brian R. Morrow sold 10,734 shares of the stock in a transaction that occurred on 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 transaction, the chief marketing officer now owns 62,711 shares in the company, valued at approximately $9,155,806. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,717 shares of company stock worth $7,141,031. 2.10% of the stock is owned by company insiders.

Ross Stores Stock Performance

Shares of Ross Stores stock traded down $1.69 during midday trading on Wednesday, hitting $148.69. The company had a trading volume of 2,510,431 shares, compared to its average volume of 2,907,126. The stock has a market cap of $49.60 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 2.64 and a beta of 1.08. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $136.60 and a 200 day simple moving average of $139.63. Ross Stores, Inc. has a 12-month low of $106.47 and a 12-month high of $151.12.

Ross Stores (NASDAQ:ROSTGet Free Report) last announced its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, beating the consensus estimate of $1.35 by $0.11. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.83 billion. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. Ross Stores’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $1.09 EPS. As a group, analysts predict that Ross Stores, Inc. will post 5.97 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be issued a $0.3675 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $1.47 annualized dividend and a yield of 0.99%. Ross Stores’s dividend payout ratio (DPR) is presently 24.79%.

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

About Ross Stores

(Free Report)

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.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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