AllGen Financial Advisors Inc. Lowers Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

AllGen Financial Advisors Inc. lessened its position in Ross Stores, Inc. (NASDAQ:ROST) by 2.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,160 shares of the apparel retailer’s stock after selling 395 shares during the quarter. Ross Stores accounts for approximately 1.0% of AllGen Financial Advisors Inc.’s portfolio, making the stock its 27th biggest position. AllGen Financial Advisors Inc.’s holdings in Ross Stores were worth $1,960,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Ross Stores by 19.5% during the third quarter. Wellington Management Group LLP now owns 4,121,854 shares of the apparel retailer’s stock worth $465,563,000 after acquiring an additional 673,670 shares during the period. Northern Trust Corp increased its holdings in Ross Stores by 1.9% during the 3rd quarter. Northern Trust Corp now owns 3,677,191 shares of the apparel retailer’s stock worth $415,339,000 after purchasing an additional 68,518 shares during the period. Invesco Ltd. raised its position in Ross Stores by 4.5% in the 3rd quarter. Invesco Ltd. now owns 2,229,488 shares of the apparel retailer’s stock valued at $251,821,000 after purchasing an additional 95,386 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Ross Stores by 12.6% in the 3rd quarter. Royal Bank of Canada now owns 2,215,353 shares of the apparel retailer’s stock valued at $250,224,000 after buying an additional 247,513 shares during the period. Finally, Alkeon Capital Management LLC grew its position in shares of Ross Stores by 18.6% during the third quarter. Alkeon Capital Management LLC now owns 1,916,373 shares of the apparel retailer’s stock worth $216,454,000 after buying an additional 300,000 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Insider Activity

In related news, Director Larree M. Renda sold 4,168 shares of Ross Stores 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 transaction, the director now directly owns 3,166 shares in the company, valued at approximately $468,219.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ross Stores news, Director Patricia H. Mueller sold 2,265 shares of Ross Stores stock in a transaction that occurred 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 approximately $278,257.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larree M. Renda sold 4,168 shares of the business’s 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 transaction, the director now owns 3,166 shares in the company, valued at approximately $468,219.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,097 shares of company stock valued at $10,396,178. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ROST. Evercore ISI raised their target price on shares of Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. The Goldman Sachs Group boosted their target price on shares of Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Robert W. Baird raised their price target on Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. BMO Capital Markets lifted their price target on Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Finally, Citigroup increased their price objective on Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $155.21.

Ross Stores Stock Performance

NASDAQ:ROST traded up $3.16 during trading hours on Friday, reaching $130.84. 3,732,548 shares of the company’s stock were exchanged, compared to its average volume of 2,338,168. 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 $44.05 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 1.86 and a beta of 1.06. Ross Stores, Inc. has a 1-year low of $99.00 and a 1-year high of $151.12. The company has a 50-day moving average of $141.16 and a 200 day moving average of $136.06.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.19. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.31 earnings per share. Research analysts anticipate that Ross Stores, Inc. will post 5.89 EPS for the current year.

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

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.3675 dividend. This is an increase from Ross Stores’s previous quarterly dividend of $0.34. This represents a $1.47 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Thursday, March 14th. Ross Stores’s dividend payout ratio (DPR) is 26.44%.

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.