Forsta AP Fonden raised its stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,729 shares of the apparel retailer's stock after purchasing an additional 7,100 shares during the quarter. Forsta AP Fonden's holdings in Ross Stores were worth $10,087,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in shares of Ross Stores in the 1st quarter worth about $26,000. Rise Advisors LLC purchased a new stake in shares of Ross Stores in the 1st quarter worth about $27,000. Geneos Wealth Management Inc. grew its position in shares of Ross Stores by 52.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer's stock worth $33,000 after buying an additional 83 shares during the period. Raleigh Capital Management Inc. grew its position in shares of Ross Stores by 41.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer's stock worth $35,000 after buying an additional 74 shares during the period. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Ross Stores in the 4th quarter worth about $51,000. 86.86% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Ross Stores
In other Ross Stores news, Director Patricia H. Mueller sold 941 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total transaction of $130,206.17. Following the completion of the sale, the director now directly owns 973 shares of the company's stock, valued at approximately $134,634.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.10% of the company's stock.
Ross Stores Stock Performance
Ross Stores stock traded down $3.03 during midday trading on Monday, hitting $148.70. The stock had a trading volume of 568,432 shares, compared to its average volume of 2,251,961. The firm's fifty day moving average is $141.78 and its two-hundred day moving average is $141.21. The company has a market capitalization of $49.60 billion, a PE ratio of 25.59, a P/E/G ratio of 2.66 and a beta of 1.08. Ross Stores, Inc. has a 52-week low of $108.35 and a 52-week high of $153.06. 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 (NASDAQ:ROST - Get Free Report) last released its earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.11. The company 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%. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. On average, research analysts forecast that Ross Stores, Inc. will post 5.97 EPS for the current year.
Ross Stores Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were issued a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Tuesday, June 11th. Ross Stores's dividend payout ratio (DPR) is currently 24.79%.
Wall Street Analyst Weigh In
Several brokerages recently commented on ROST. Barclays increased their price objective on shares of Ross Stores from $163.00 to $165.00 and gave the company an "overweight" rating in a research report on Friday, May 24th. Telsey Advisory Group reissued a "market perform" rating and set a $160.00 price objective on shares of Ross Stores in a research report on Friday, June 14th. TD Cowen increased their price objective on shares of Ross Stores from $173.00 to $176.00 and gave the company a "buy" rating in a research report on Friday, May 24th. Evercore ISI increased their price objective on shares of Ross Stores from $155.00 to $165.00 and gave the company an "outperform" rating in a research report on Friday, May 24th. Finally, StockNews.com raised shares of Ross Stores from a "hold" rating to a "buy" rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Ross Stores has an average rating of "Moderate Buy" and an average target price of $159.06.
View Our Latest Research Report on Ross Stores
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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