Greenleaf Trust Buys Shares of 4,059 Ross Stores, Inc. (ROST)

Greenleaf Trust bought a new position in Ross Stores, Inc. (NASDAQ:ROST) in the 1st quarter, Holdings Channel reports. The fund bought 4,059 shares of the apparel retailer’s stock, valued at approximately $378,000.

A number of other hedge funds have also bought and sold shares of the business. Bollard Group LLC bought a new stake in Ross Stores in the 4th quarter valued at $25,000. CI Investments Inc. bought a new stake in Ross Stores in the 4th quarter valued at $26,000. First Manhattan Co. bought a new stake in Ross Stores in the 1st quarter valued at $27,000. Athena Capital Advisors LLC bought a new stake in Ross Stores in the 4th quarter valued at $29,000. Finally, Berman Capital Advisors LLC bought a new stake in Ross Stores in the 4th quarter valued at $32,000. 88.31% of the stock is owned by institutional investors.

In related news, EVP Michael J. Hartshorn sold 9,924 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $91.48, for a total transaction of $907,847.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael Balmuth sold 25,689 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $90.77, for a total transaction of $2,331,790.53. Following the sale, the chairman now owns 51,998 shares of the company’s stock, valued at approximately $4,719,858.46. The disclosure for this sale can be found here. Insiders have sold a total of 137,054 shares of company stock valued at $12,504,328 in the last quarter. 2.30% of the stock is currently owned by corporate insiders.

Shares of Ross Stores stock opened at $92.78 on Friday. The stock has a market cap of $34.09 billion, a P/E ratio of 21.78, a PEG ratio of 2.08 and a beta of 0.89. The company has a quick ratio of 0.82, a current ratio of 1.69 and a debt-to-equity ratio of 0.09. Ross Stores, Inc. has a 12-month low of $75.91 and a 12-month high of $104.35.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Ross Stores had a net margin of 10.60% and a return on equity of 49.58%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $1.11 EPS. As a group, equities research analysts forecast that Ross Stores, Inc. will post 4.5 EPS for the current fiscal year.

Ross Stores announced that its Board of Directors has approved a share repurchase program on Tuesday, March 5th that authorizes the company to buyback $2.55 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, June 10th. Ross Stores’s dividend payout ratio (DPR) is currently 23.94%.

A number of brokerages have weighed in on ROST. BidaskClub raised shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research cut shares of Ross Stores from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. Guggenheim restated a “buy” rating and issued a $105.00 price objective on shares of Ross Stores in a research note on Friday. DA Davidson increased their price objective on shares of Ross Stores to $92.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Finally, Wells Fargo & Co increased their price objective on shares of Ross Stores from $92.00 to $104.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $97.84.

ILLEGAL ACTIVITY WARNING: “Greenleaf Trust Buys Shares of 4,059 Ross Stores, Inc. (ROST)” was published by Stock Observer and is the property of of Stock Observer. If you are reading this news story on another publication, it was illegally copied and republished in violation of United States & international copyright law. The legal version of this news story can be viewed at https://www.thestockobserver.com/2019/05/25/greenleaf-trust-buys-shares-of-4059-ross-stores-inc-rost.html.

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 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.

See Also: What Factors Can Affect Return on Equity?

Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST).

Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.