Tiemann Investment Advisors LLC bought a new stake in Ross Stores (NASDAQ:ROST) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,830 shares of the apparel retailer’s stock, valued at approximately $227,000.
A number of other hedge funds also recently bought and sold shares of the business. Novare Capital Management LLC grew its holdings in Ross Stores by 4.4% during the fourth quarter. Novare Capital Management LLC now owns 15,302 shares of the apparel retailer’s stock worth $1,228,000 after acquiring an additional 640 shares during the period. Daiwa SB Investments Ltd. increased its stake in Ross Stores by 5.1% in the 4th quarter. Daiwa SB Investments Ltd. now owns 13,750 shares of the apparel retailer’s stock worth $1,103,000 after purchasing an additional 670 shares in the last quarter. Bbva Compass Bancshares Inc. increased its stake in Ross Stores by 15.8% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 5,355 shares of the apparel retailer’s stock worth $430,000 after purchasing an additional 730 shares in the last quarter. Private Advisor Group LLC increased its stake in Ross Stores by 5.2% in the 3rd quarter. Private Advisor Group LLC now owns 16,256 shares of the apparel retailer’s stock worth $1,061,000 after purchasing an additional 806 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. boosted its position in Ross Stores by 26.4% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 4,584 shares of the apparel retailer’s stock worth $368,000 after acquiring an additional 956 shares during the period. Institutional investors own 89.58% of the company’s stock.
In other news, insider Bernard G. Brautigan sold 18,171 shares of the firm’s stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $75.71, for a total value of $1,375,726.41. Following the completion of the sale, the insider now directly owns 170,718 shares of the company’s stock, valued at $12,925,059.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Michael Balmuth sold 59,777 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $76.53, for a total value of $4,574,733.81. The disclosure for this sale can be found here. Insiders have sold 196,751 shares of company stock valued at $15,084,913 over the last three months. Insiders own 2.30% of the company’s stock.
A number of equities research analysts have commented on ROST shares. Susquehanna Bancshares set a $95.00 price objective on Ross Stores and gave the stock a “buy” rating in a research report on Wednesday, March 7th. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Loop Capital initiated coverage on Ross Stores in a report on Thursday, March 8th. They issued a “buy” rating and a $85.00 target price for the company. Cowen set a $85.00 price target on Ross Stores and gave the stock a “buy” rating in a research report on Tuesday, March 6th. Finally, Credit Suisse Group initiated coverage on Ross Stores in a research report on Monday, March 12th. They issued an “outperform” rating and a $88.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $81.86.
Shares of Ross Stores stock opened at $77.45 on Friday. Ross Stores has a 1 year low of $52.85 and a 1 year high of $85.66. The stock has a market capitalization of $29,778.23, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 1.95 and a beta of 1.08. The company has a quick ratio of 0.78, a current ratio of 1.64 and a debt-to-equity ratio of 0.10.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.95 billion. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%. research analysts predict that Ross Stores will post 4.03 EPS for the current fiscal year.
Ross Stores announced that its board has initiated a share buyback plan on Tuesday, March 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the apparel retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Monday, March 19th were given a dividend of $0.225 per share. The ex-dividend date was Friday, March 16th. This is a boost from Ross Stores’s previous quarterly dividend of $0.16. This represents a $0.90 annualized dividend and a yield of 1.16%. Ross Stores’s dividend payout ratio is 26.95%.
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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. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at savings of 20% to 60% off department and specialty store regular prices primarily to middle income households; and dd's DISCOUNTS stores sell its products at savings of 20% to 70% off moderate department and discount store regular prices to customers from households with moderate income.
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