Benjamin Edwards Inc. lessened its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST – Free Report) by 24.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,741 shares of the apparel retailer’s stock after selling 10,633 shares during the quarter. Benjamin Edwards Inc.’s holdings in Ross Stores were worth $6,078,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in Ross Stores in the 3rd quarter worth about $1,411,000. Amica Mutual Insurance Co. acquired a new position in shares of Ross Stores during the 3rd quarter valued at about $4,790,000. Thrivent Financial for Lutherans increased its holdings in shares of Ross Stores by 84.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 227,340 shares of the apparel retailer’s stock valued at $34,645,000 after acquiring an additional 104,270 shares during the last quarter. Financial Planning Hawaii Inc. acquired a new position in shares of Ross Stores during the 4th quarter valued at about $1,542,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Ross Stores by 6.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,610 shares of the apparel retailer’s stock valued at $19,904,000 after buying an additional 7,338 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.
Ross Stores Price Performance
Ross Stores stock opened at $226.02 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.04. The company has a market capitalization of $72.81 billion, a PE ratio of 34.19, a price-to-earnings-growth ratio of 3.12 and a beta of 0.87. Ross Stores, Inc. has a one year low of $124.49 and a one year high of $230.44. The business has a 50 day simple moving average of $215.51 and a 200 day simple moving average of $191.24.
Ross Stores Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a dividend of $0.445 per share. This is a boost from Ross Stores’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, March 13th. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. Ross Stores’s dividend payout ratio is 26.93%.
Insider Buying and Selling
In related news, COO Michael J. Hartshorn sold 15,813 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $214.91, for a total transaction of $3,398,371.83. Following the completion of the transaction, the chief operating officer owned 116,028 shares in the company, valued at $24,935,577.48. This trade represents a 11.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Karen Sykes sold 5,506 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $213.40, for a total value of $1,174,980.40. Following the transaction, the chief marketing officer owned 104,648 shares of the company’s stock, valued at $22,331,883.20. This trade represents a 5.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 25,756 shares of company stock worth $5,521,004 in the last 90 days. 2.10% of the stock is owned by company insiders.
Analysts Set New Price Targets
ROST has been the topic of a number of research analyst reports. Guggenheim reaffirmed a “buy” rating and issued a $290.00 target price on shares of Ross Stores in a report on Monday, April 27th. UBS Group set a $208.00 price objective on Ross Stores in a research report on Thursday, March 5th. Barclays raised their price objective on Ross Stores from $205.00 to $221.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. The Goldman Sachs Group raised their price objective on Ross Stores from $214.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, Zacks Research downgraded Ross Stores from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $212.06.
Check Out Our Latest Research Report on ROST
Ross Stores Profile
Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.
Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.
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