State of Alaska Department of Revenue Sells 3,900 Shares of Ross Stores, Inc. (NASDAQ:ROST)

State of Alaska Department of Revenue lessened its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 7.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,513 shares of the apparel retailer’s stock after selling 3,900 shares during the period. State of Alaska Department of Revenue’s holdings in Ross Stores were worth $6,825,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co bought a new stake in Ross Stores in the first quarter valued at approximately $26,000. Rise Advisors LLC bought a new stake in Ross Stores in the first quarter valued at approximately $27,000. Geneos Wealth Management Inc. raised its stake in Ross Stores by 52.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 83 shares during the period. Raleigh Capital Management Inc. raised its stake in Ross Stores by 41.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after buying an additional 74 shares during the period. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Ross Stores in the fourth quarter valued at approximately $51,000. Institutional investors own 86.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ROST shares. Barclays upped their target price on Ross Stores from $163.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Citigroup upped their target price on Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Loop Capital upped their target price on Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Evercore ISI upped their target price on Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Finally, Jefferies Financial Group upped their target price on Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Ross Stores has an average rating of “Moderate Buy” and an average target price of $159.06.

Ross Stores Price Performance

NASDAQ ROST traded down $0.40 on Wednesday, hitting $144.00. 1,170,433 shares of the company’s stock were exchanged, compared to its average volume of 2,301,809. The stock has a 50-day moving average of $139.13 and a 200-day moving average of $140.58. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. Ross Stores, Inc. has a 52 week low of $107.30 and a 52 week high of $151.12. The stock has a market cap of $48.03 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 2.55 and a beta of 1.08.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.11. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the company earned $1.09 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts expect that Ross Stores, Inc. will post 5.97 earnings per share for the current year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were paid a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Tuesday, June 11th. Ross Stores’s payout ratio is 24.79%.

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

Insider Activity

In other news, Director Patricia H. Mueller sold 941 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total value of $130,206.17. Following the completion of the transaction, the director now directly owns 973 shares in the company, valued at approximately $134,634.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is owned by corporate insiders.

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.