ProShare Advisors LLC Purchases 69,679 Shares of Ross Stores, Inc. (NASDAQ:ROST)

ProShare Advisors LLC grew its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 19.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 425,930 shares of the apparel retailer’s stock after acquiring an additional 69,679 shares during the period. ProShare Advisors LLC owned about 0.13% of Ross Stores worth $64,430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC increased its position 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 valued at $27,000 after buying an additional 107 shares during the period. BOK Financial Private Wealth Inc. purchased a new position in shares of Ross Stores during the fourth quarter valued at about $31,000. Cary Street Partners Financial LLC purchased a new position in shares of Ross Stores during the fourth quarter valued at about $48,000. Kestra Investment Management LLC purchased a new position in shares of Ross Stores during the fourth quarter valued at about $51,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Ross Stores during the fourth quarter valued at about $53,000. 86.86% of the stock is owned by institutional investors.

Ross Stores Trading Up 0.8%

Shares of NASDAQ ROST opened at $151.89 on Friday. The firm’s 50 day moving average price is $135.16 and its 200-day moving average price is $142.51. The company has a market cap of $49.94 billion, a PE ratio of 23.92, a P/E/G ratio of 2.13 and a beta of 1.17. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57.

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

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a $0.405 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.62 annualized dividend and a yield of 1.07%. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. Ross Stores’s dividend payout ratio (DPR) is currently 25.63%.

Insider Buying and Selling

In other Ross Stores news, COO Michael J. Hartshorn sold 7,492 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $127.69, for a total value 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 trade represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Karen Fleming sold 5,339 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $125.73, for a total transaction of $671,272.47. Following the completion of the transaction, the chief marketing officer now owns 94,063 shares in the company, valued at $11,826,540.99. The trade was a 5.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,398 shares of company stock worth $4,439,950. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Telsey Advisory Group reduced their price target on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 5th. BMO Capital Markets cut their price objective on shares of Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Evercore ISI cut their price objective on shares of Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. UBS Group cut their price objective on shares of Ross Stores from $168.00 to $163.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Finally, Loop Capital cut their price objective on shares of Ross Stores from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $161.53.

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.