Fulcrum Equity Management Purchases Shares of 10,017 Ross Stores, Inc. (ROST)

Fulcrum Equity Management purchased a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,017 shares of the apparel retailer’s stock, valued at approximately $833,000. Ross Stores comprises about 0.3% of Fulcrum Equity Management’s investment portfolio, making the stock its 14th biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Ross Stores by 7.7% during the fourth quarter. BlackRock Inc. now owns 28,069,263 shares of the apparel retailer’s stock valued at $2,335,364,000 after buying an additional 2,017,295 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Ross Stores by 33.8% during the third quarter. JPMorgan Chase & Co. now owns 13,907,770 shares of the apparel retailer’s stock valued at $1,378,259,000 after buying an additional 3,512,781 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Ross Stores by 8,178.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,859,040 shares of the apparel retailer’s stock valued at $167,000 after buying an additional 13,691,631 shares during the period. Geode Capital Management LLC increased its stake in shares of Ross Stores by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 6,088,490 shares of the apparel retailer’s stock valued at $505,856,000 after buying an additional 456,445 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Ross Stores by 3.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,670,826 shares of the apparel retailer’s stock valued at $471,814,000 after buying an additional 165,920 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Shares of Ross Stores stock traded up $0.08 on Friday, reaching $100.00. 2,393,653 shares of the stock were exchanged, compared to its average volume of 1,880,464. 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 twelve month low of $75.91 and a twelve month high of $104.35. The company has a market capitalization of $36.74 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 2.14 and a beta of 0.89.

Ross Stores (NASDAQ:ROST) last released its earnings results on Tuesday, March 5th. The apparel retailer reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.07. Ross Stores had a return on equity of 49.58% and a net margin of 10.60%. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.05 billion. Research analysts anticipate that Ross Stores, Inc. will post 4.49 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.255 per share. This is an increase from Ross Stores’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.02%. Ross Stores’s payout ratio is 23.94%.

Ross Stores declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 5th that authorizes the company to buyback $2.55 billion in shares. This buyback authorization authorizes the apparel retailer to purchase up to 7.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

A number of equities research analysts recently weighed in on ROST shares. Guggenheim reaffirmed a “buy” rating and set a $105.00 price objective on shares of Ross Stores in a research report on Tuesday, March 5th. Loop Capital raised their price objective on Ross Stores to $105.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research report on Wednesday, January 23rd. BidaskClub raised Ross Stores from a “hold” rating to a “buy” rating in a research report on Thursday, January 10th. Finally, ValuEngine raised Ross Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, December 26th. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $97.42.

In related news, insider Bernard G. Brautigan sold 19,384 shares of Ross Stores stock in a transaction that occurred on Tuesday, April 2nd. The stock was 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 link. Also, EVP Michael J. Hartshorn sold 9,924 shares of Ross Stores stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $91.48, for a total value of $907,847.52. The disclosure for this sale can be found here. Insiders have sold 137,054 shares of company stock valued at $12,504,328 in the last ninety days. Corporate insiders own 2.40% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Fulcrum Equity Management Purchases Shares of 10,017 Ross Stores, Inc. (ROST)” was first published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this article on another website, it was illegally copied and reposted in violation of US & international copyright and trademark law. The original version of this article can be accessed at https://www.baseballdailydigest.com/news/2019/04/21/fulcrum-equity-management-purchases-shares-of-10017-ross-stores-inc-rost.html.

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 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.

Recommended Story: Straddles

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.