Xponance Inc. Lowers Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

Xponance Inc. lessened its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 3.0% during the 4th quarter, Holdings Channel reports. The firm owned 75,773 shares of the apparel retailer’s stock after selling 2,356 shares during the period. Xponance Inc.’s holdings in Ross Stores were worth $10,486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its stake in Ross Stores by 160.7% during the 4th quarter. Federated Hermes Inc. now owns 164,876 shares of the apparel retailer’s stock valued at $22,817,000 after purchasing an additional 101,628 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Ross Stores by 41.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 677 shares of the apparel retailer’s stock valued at $94,000 after purchasing an additional 197 shares during the period. Daiwa Securities Group Inc. raised its stake in Ross Stores by 4.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 47,237 shares of the apparel retailer’s stock valued at $6,537,000 after purchasing an additional 2,066 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ross Stores by 6.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,450 shares of the apparel retailer’s stock valued at $8,227,000 after purchasing an additional 3,789 shares during the period. Finally, Everence Capital Management Inc. raised its stake in Ross Stores by 22.7% during the 4th quarter. Everence Capital Management Inc. now owns 9,900 shares of the apparel retailer’s stock valued at $1,370,000 after purchasing an additional 1,830 shares during the period. Institutional investors own 86.86% of the company’s stock.

Ross Stores Trading Up 0.1 %

ROST traded up $0.10 during trading hours on Friday, reaching $131.90. 181,199 shares of the company’s stock traded hands, compared to its average volume of 1,934,517. The firm has a 50-day moving average price of $144.19 and a 200 day moving average price of $134.41. Ross Stores, Inc. has a 52-week low of $99.00 and a 52-week high of $151.12. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $44.41 billion, a PE ratio of 23.71, a PEG ratio of 1.89 and a beta of 1.04.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the business earned $1.31 EPS. Ross Stores’s revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts predict that Ross Stores, Inc. will post 5.89 EPS for the current fiscal year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 1.11%. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 14th. Ross Stores’s dividend payout ratio is currently 26.44%.

Ross Stores declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 5th that allows the company to buyback $2.10 billion in outstanding shares. This buyback authorization allows the apparel retailer to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

ROST has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on Ross Stores from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. JPMorgan Chase & Co. lifted their price objective on Ross Stores from $150.00 to $163.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Guggenheim lifted their price objective on Ross Stores from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group lifted their price objective on Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Evercore ISI lifted their price objective on Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.21.

Insiders Place Their Bets

In other Ross Stores news, Director Patricia H. Mueller sold 2,265 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the completion of the sale, the director now directly owns 1,914 shares in the company, valued at approximately $278,257.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Larree M. Renda sold 4,168 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total transaction of $616,405.52. Following the completion of the sale, the director now directly owns 3,166 shares in the company, valued at approximately $468,219.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia H. Mueller sold 2,265 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the sale, the director now owns 1,914 shares of the company’s stock, valued at $278,257.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,097 shares of company stock worth $10,396,178. 2.00% of the stock is currently owned by company insiders.

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.