Modern Wealth Management LLC Purchases New Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Modern Wealth Management LLC acquired a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,021 shares of the apparel retailer’s stock, valued at approximately $287,000.

Other hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in shares of Ross Stores by 152.9% during the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock worth $27,000 after purchasing an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new position in Ross Stores in the 4th quarter valued at $31,000. ORG Partners LLC increased its stake in Ross Stores by 434.1% in the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock valued at $36,000 after buying an additional 191 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Ross Stores in the 4th quarter worth $51,000. Finally, Oakworth Capital Inc. acquired a new stake in Ross Stores in the fourth quarter valued at about $57,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROST has been the topic of several research analyst reports. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays set a $150.00 target price on shares of Ross Stores in a research report on Wednesday, March 5th. Telsey Advisory Group dropped their target price on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating for the company in a report on Wednesday, March 5th. BMO Capital Markets decreased their price target on Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Finally, Loop Capital lowered their price target on Ross Stores from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $161.40.

Ross Stores Price Performance

Ross Stores stock opened at $129.09 on Friday. The firm’s 50-day moving average is $138.28 and its two-hundred day moving average is $145.03. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The stock has a market capitalization of $42.59 billion, a P/E ratio of 20.33, a P/E/G ratio of 2.13 and a beta of 1.15. Ross Stores, Inc. has a 12-month low of $122.36 and a 12-month high of $163.60.

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

Ross Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $0.405 dividend. This is a positive change from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, March 18th. Ross Stores’s dividend payout ratio is presently 25.63%.

Insider Buying and Selling

In related news, CMO Karen Fleming sold 5,339 shares of the business’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 completion of the sale, the chief marketing officer now directly owns 94,063 shares in the company, valued at approximately $11,826,540.99. The trade was a 5.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael J. Hartshorn sold 7,492 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $127.69, for a total transaction of $956,653.48. Following the transaction, the chief operating officer now directly owns 139,091 shares in the company, valued at approximately $17,760,529.79. This represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

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 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.