RFG Advisory LLC Invests $267,000 in Ross Stores, Inc. (NASDAQ:ROST)

RFG Advisory LLC bought a new position in Ross Stores, Inc. (NASDAQ:ROST) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,820 shares of the apparel retailer’s stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ROST. Rise Advisors LLC acquired a new position in Ross Stores during the 1st quarter valued at approximately $27,000. Geneos Wealth Management Inc. grew its position in shares of 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 during the last quarter. Raleigh Capital Management Inc. increased 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 worth $35,000 after acquiring an additional 74 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in Ross Stores in the 4th quarter valued at about $51,000. Finally, Mendota Financial Group LLC acquired a new position in Ross Stores during the 4th quarter valued at about $61,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ROST. TD Cowen lifted their price target on Ross Stores from $173.00 to $176.00 and gave the company a “buy” rating in a report on Friday, May 24th. UBS Group increased their price target on Ross Stores from $145.00 to $147.00 and gave the stock a “neutral” rating in a research note on Friday, May 24th. StockNews.com cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Monday. Citigroup increased their target price on shares of Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, 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. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and an average price target of $156.58.

Ross Stores Price Performance

Shares of Ross Stores stock opened at $148.46 on Wednesday. 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 firm has a fifty day simple moving average of $137.83 and a 200-day simple moving average of $140.21. The stock has a market capitalization of $49.52 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.62 and a beta of 1.08. Ross Stores, Inc. has a 1-year low of $107.30 and a 1-year high of $151.12.

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 analysts’ consensus estimates 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%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. On average, sell-side analysts expect that Ross Stores, Inc. will post 5.97 earnings per share for the current year.

Ross Stores Announces Dividend

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

Ross Stores announced that its Board of Directors has authorized a stock buyback 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 buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Larree M. Renda sold 4,168 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value of $616,405.52. Following the completion of the sale, the director now directly owns 3,166 shares of the company’s stock, valued at $468,219.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ross Stores news, Director Larree M. Renda sold 4,168 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $147.89, for a total value of $616,405.52. Following the completion of the sale, the director now directly owns 3,166 shares of the company’s stock, valued at approximately $468,219.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Patricia H. Mueller sold 941 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total transaction of $130,206.17. Following the transaction, the director now owns 973 shares in the company, valued at approximately $134,634.01. The disclosure for this sale can be found here. Insiders have sold a total of 18,969 shares of company stock valued at $2,790,407 in the last three months. Company insiders own 2.10% of the company’s stock.

Ross Stores 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.