Financial Gravity Wealth Inc. purchased a new stake in Ross Stores, Inc. (NASDAQ:ROST) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,874 shares of the apparel retailer’s stock, valued at approximately $177,000.
Several other large investors have also bought and sold shares of ROST. Oregon Public Employees Retirement Fund raised its holdings in shares of Ross Stores by 8,178.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,859,040 shares of the apparel retailer’s stock valued at $167,000 after purchasing an additional 13,691,631 shares in the last quarter. Norges Bank purchased a new position in shares of Ross Stores in the 4th quarter worth approximately $298,173,000. JPMorgan Chase & Co. grew its position in shares of Ross Stores by 33.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,907,770 shares of the apparel retailer’s stock worth $1,378,259,000 after buying an additional 3,512,781 shares during the last quarter. BlackRock Inc. grew its position in shares of Ross Stores by 7.7% in the 4th quarter. BlackRock Inc. now owns 28,069,263 shares of the apparel retailer’s stock worth $2,335,364,000 after buying an additional 2,017,295 shares during the last quarter. Finally, Boston Partners purchased a new position in shares of Ross Stores in the 4th quarter worth approximately $80,761,000. Institutional investors and hedge funds own 90.88% of the company’s stock.
NASDAQ:ROST opened at $100.00 on Friday. The company has a market cap of $36.74 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 2.14 and a beta of 0.89. Ross Stores, Inc. has a twelve month low of $75.91 and a twelve month high of $104.35. The company has a current ratio of 1.69, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09.
Ross Stores announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 5th that allows the company to buyback $2.55 billion in shares. This buyback authorization allows the apparel retailer to purchase up to 7.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.02%. The ex-dividend date was Wednesday, March 6th. This is an increase from Ross Stores’s previous quarterly dividend of $0.23. Ross Stores’s payout ratio is currently 23.94%.
In other Ross Stores news, insider Bernard G. Brautigan sold 19,384 shares of Ross Stores stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $93.56, for a total transaction of $1,813,567.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Michael Balmuth sold 25,689 shares of Ross Stores stock in a transaction that occurred on Tuesday, March 12th. The shares were 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 $4,719,858.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,054 shares of company stock worth $12,504,328. 2.40% of the stock is owned by insiders.
A number of research analysts have recently issued reports on ROST shares. Credit Suisse Group lifted their price objective on shares of Ross Stores from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. BidaskClub raised shares of Ross Stores from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Loop Capital lifted their price objective on shares of Ross Stores to $105.00 and gave the stock a “buy” rating in a research report on Thursday, January 24th. DA Davidson lifted their price objective on shares of Ross Stores to $92.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Finally, Wells Fargo & Co lifted their price objective on shares of Ross Stores from $92.00 to $104.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $97.42.
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Ross Stores 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 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.
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