NavPoint Financial Inc. Acquires Shares of 7,676 Ross Stores, Inc. (NASDAQ:ROST)

NavPoint Financial Inc. acquired a new stake in Ross Stores, Inc. (NASDAQ:ROST) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,676 shares of the apparel retailer’s stock, valued at approximately $1,062,000. Ross Stores comprises about 1.0% of NavPoint Financial Inc.’s portfolio, making the stock its 22nd biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ROST. Massmutual Trust Co. FSB ADV raised its holdings in Ross Stores by 9.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 919 shares of the apparel retailer’s stock worth $127,000 after purchasing an additional 76 shares during the period. Greenleaf Trust raised its holdings in Ross Stores by 1.6% in the fourth quarter. Greenleaf Trust now owns 5,133 shares of the apparel retailer’s stock worth $710,000 after purchasing an additional 80 shares during the period. Geneos Wealth Management Inc. raised its holdings in Ross Stores by 52.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 83 shares during the period. Atria Wealth Solutions Inc. raised its holdings in Ross Stores by 1.6% in the third quarter. Atria Wealth Solutions Inc. now owns 5,309 shares of the apparel retailer’s stock worth $600,000 after purchasing an additional 85 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in Ross Stores by 9.8% in the fourth quarter. First Horizon Advisors Inc. now owns 961 shares of the apparel retailer’s stock worth $133,000 after purchasing an additional 86 shares during the period. 86.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on ROST shares. The Goldman Sachs Group increased their target price on shares of Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. UBS Group raised their price objective on shares of Ross Stores from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Jefferies Financial Group raised their price objective on shares of Ross Stores from $135.00 to $147.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Loop Capital raised their price objective on shares of Ross Stores from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Robert W. Baird lifted their price target on shares of Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.21.

Insider Transactions at Ross Stores

In related news, CMO Brian R. Morrow sold 10,734 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total value of $1,567,164.00. Following the completion of the transaction, the chief marketing officer now owns 62,711 shares of the company’s stock, valued at approximately $9,155,806. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Michael J. Hartshorn sold 21,056 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.14, for a total value of $3,056,067.84. Following the completion of the transaction, the chief operating officer now owns 114,488 shares of the company’s stock, valued at approximately $16,616,788.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Brian R. Morrow sold 10,734 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the completion of the transaction, the chief marketing officer now directly owns 62,711 shares of the company’s stock, valued at approximately $9,155,806. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,097 shares of company stock valued at $10,396,178. Company insiders own 2.10% of the company’s stock.

Ross Stores Stock Performance

ROST traded up $3.16 on Friday, reaching $130.84. The company had a trading volume of 3,732,548 shares, compared to its average volume of 2,338,168. Ross Stores, Inc. has a fifty-two week low of $99.00 and a fifty-two week high of $151.12. The stock has a market cap of $44.05 billion, a P/E ratio of 23.53, a P/E/G ratio of 1.82 and a beta of 1.06. The company’s fifty day moving average is $141.16 and its 200 day moving average is $135.81. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77.

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

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Ross Stores’s previous quarterly dividend of $0.34. Ross Stores’s dividend payout ratio is 26.44%.

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

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.