First Allied Advisory Services Inc. lessened its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 13.3% in the first quarter, HoldingsChannel.com reports. The fund owned 2,944 shares of the apparel retailer’s stock after selling 450 shares during the period. First Allied Advisory Services Inc.’s holdings in Ross Stores were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently modified their holdings of ROST. Private Trust Co. NA raised its position in shares of Ross Stores by 2.1% in the first quarter. Private Trust Co. NA now owns 5,826 shares of the apparel retailer’s stock valued at $542,000 after buying an additional 120 shares in the last quarter. BerganKDV Wealth Management LLC raised its position in shares of Ross Stores by 3.0% in the fourth quarter. BerganKDV Wealth Management LLC now owns 4,259 shares of the apparel retailer’s stock valued at $354,000 after buying an additional 126 shares in the last quarter. Kaizen Advisory LLC raised its position in Ross Stores by 14.5% during the fourth quarter. Kaizen Advisory LLC now owns 1,049 shares of the apparel retailer’s stock valued at $87,000 after purchasing an additional 133 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Ross Stores by 1.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 12,278 shares of the apparel retailer’s stock valued at $1,022,000 after purchasing an additional 145 shares in the last quarter. Finally, Advisory Services Network LLC raised its position in Ross Stores by 2.4% during the fourth quarter. Advisory Services Network LLC now owns 6,594 shares of the apparel retailer’s stock valued at $548,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 88.31% of the company’s stock.
Shares of NASDAQ:ROST opened at $92.78 on Friday. The firm has a market cap of $34.09 billion, a PE ratio of 21.78, a P/E/G ratio of 2.08 and a beta of 0.89. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 0.82. Ross Stores, Inc. has a 52-week low of $75.91 and a 52-week high of $104.35.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.01. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.79 billion. Ross Stores had a net margin of 10.60% and a return on equity of 49.58%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.11 earnings per share. On average, sell-side analysts anticipate that Ross Stores, Inc. will post 4.5 EPS for the current year.
Ross Stores announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 5th that allows the company to repurchase $2.55 billion in outstanding shares. This repurchase authorization allows the apparel retailer to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be issued a dividend of $0.255 per share. The ex-dividend date is Monday, June 10th. This represents a $1.02 annualized dividend and a dividend yield of 1.10%. Ross Stores’s dividend payout ratio (DPR) is presently 23.94%.
In other news, Chairman Michael Balmuth sold 25,689 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $90.77, for a total transaction of $2,331,790.53. Following the completion of the transaction, the chairman now directly owns 51,998 shares in the company, valued at $4,719,858.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bernard G. Brautigan sold 12,000 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $91.18, for a total transaction of $1,094,160.00. Following the transaction, the insider now owns 174,450 shares of the company’s stock, valued at $15,906,351. The disclosure for this sale can be found here. Insiders have sold 137,054 shares of company stock valued at $12,504,328 over the last quarter. Company insiders own 2.30% of the company’s stock.
Several brokerages have commented on ROST. Guggenheim restated a “buy” rating and set a $105.00 price objective on shares of Ross Stores in a research report on Tuesday, March 5th. Zacks Investment Research downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th. Wells Fargo & Co boosted their price objective on shares of Ross Stores from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. BidaskClub downgraded shares of Ross Stores from a “hold” rating to a “sell” rating in a research report on Wednesday, March 13th. Finally, DA Davidson boosted their price objective on shares of Ross Stores to $92.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $98.13.
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Ross Stores Company 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 brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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