SageView Advisory Group LLC Buys New Shares in Ross Stores, Inc. (NASDAQ:ROST)

SageView Advisory Group LLC purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,953 shares of the apparel retailer’s stock, valued at approximately $278,000.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its holdings in Ross Stores by 52.9% during 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 in the last quarter. Rock Creek Group LP bought a new stake in shares of Ross Stores during the 3rd quarter worth approximately $35,000. Raleigh Capital Management Inc. boosted its holdings 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 valued at $35,000 after buying an additional 74 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in shares of Ross Stores in the fourth quarter valued at $51,000. Finally, Mendota Financial Group LLC acquired a new position in Ross Stores during the fourth quarter worth $61,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Citigroup increased their price target on shares of Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Telsey Advisory Group reiterated a “market perform” rating and set a $160.00 price target on shares of Ross Stores in a report on Friday, June 14th. Wells Fargo & Company boosted their price target on Ross Stores from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Barclays lifted their target price on Ross Stores from $163.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Finally, Evercore ISI increased their price target on Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Ross Stores currently has an average rating of “Moderate Buy” and an average price target of $156.58.

Insider Transactions at Ross Stores

In related news, CMO Brian R. Morrow sold 10,734 shares of Ross Stores stock in a transaction that occurred 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 directly owns 62,711 shares of the company’s stock, valued at $9,155,806. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ross Stores news, COO Michael J. Hartshorn sold 19,014 shares of Ross Stores stock in a transaction dated Wednesday, March 27th. The stock was 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 $17,561,237.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the chief marketing officer now directly owns 62,711 shares of the company’s stock, valued at approximately $9,155,806. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,717 shares of company stock valued at $7,141,031. Company insiders own 2.10% of the company’s stock.

Ross Stores Stock Down 0.9 %

NASDAQ ROST opened at $147.37 on Friday. The company has a market cap of $49.16 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 2.61 and a beta of 1.08. Ross Stores, Inc. has a 1-year low of $106.47 and a 1-year high of $151.12. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $136.96 and a 200-day moving average of $139.75.

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, beating analysts’ consensus estimates 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 the consensus estimate of $4.83 billion. During the same period in the prior year, the company posted $1.09 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that Ross Stores, Inc. will post 5.97 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be given a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Tuesday, June 11th. Ross Stores’s payout ratio is presently 24.79%.

Ross Stores announced that its Board of Directors has authorized a share repurchase plan on Tuesday, March 5th that authorizes the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is 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.