Keel Point LLC Sells 542 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Keel Point LLC lowered its stake in Ross Stores, Inc. (NASDAQ:ROST) by 16.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,780 shares of the apparel retailer’s stock after selling 542 shares during the quarter. Keel Point LLC’s holdings in Ross Stores were worth $420,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Peapack Gladstone Financial Corp boosted its position in shares of Ross Stores by 1.8% in the third quarter. Peapack Gladstone Financial Corp now owns 3,910 shares of the apparel retailer’s stock valued at $588,000 after acquiring an additional 70 shares during the period. Forum Financial Management LP boosted its holdings in Ross Stores by 5.3% in the 4th quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer’s stock valued at $223,000 after purchasing an additional 74 shares during the period. Alhambra Investment Management LLC grew its position in shares of Ross Stores by 5.2% during the 4th quarter. Alhambra Investment Management LLC now owns 1,549 shares of the apparel retailer’s stock valued at $234,000 after purchasing an additional 76 shares in the last quarter. Key Financial Inc increased its holdings in shares of Ross Stores by 13.2% in the fourth quarter. Key Financial Inc now owns 662 shares of the apparel retailer’s stock worth $100,000 after purchasing an additional 77 shares during the period. Finally, Frank Rimerman Advisors LLC raised its position in shares of Ross Stores by 2.6% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,105 shares of the apparel retailer’s stock worth $470,000 after buying an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Up 1.1 %

ROST opened at $140.49 on Friday. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average price is $133.59 and its 200-day moving average price is $142.54. The company has a market cap of $46.20 billion, a P/E ratio of 22.12, a P/E/G ratio of 2.13 and a beta of 1.11.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. On average, equities analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $0.405 per share. The ex-dividend date was Tuesday, March 18th. This represents a $1.62 annualized dividend and a yield of 1.15%. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s dividend payout ratio is presently 25.63%.

Insiders Place Their Bets

In other news, CMO Karen Sykes sold 5,036 shares of Ross Stores stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $130.48, for a total value of $657,097.28. Following the sale, the chief marketing officer now directly owns 110,365 shares in the company, valued at approximately $14,400,425.20. This trade represents a 4.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Karen Fleming sold 5,339 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.73, for a total value of $671,272.47. Following the transaction, the chief marketing officer now owns 94,063 shares of the company’s stock, valued at approximately $11,826,540.99. This represents a 5.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,398 shares of company stock valued at $4,439,950 in the last quarter. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ROST shares. Evercore ISI reduced their target price on Ross Stores from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Telsey Advisory Group lowered their target price on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 5th. Loop Capital cut their price target on shares of Ross Stores from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. BMO Capital Markets lowered their price objective on shares of Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Finally, Morgan Stanley cut their target price on shares of Ross Stores from $140.00 to $130.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.87.

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 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.