PYA Waltman Capital LLC Sells 2,659 Shares of Ross Stores, Inc. (NASDAQ:ROST)

PYA Waltman Capital LLC lowered its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,738 shares of the apparel retailer’s stock after selling 2,659 shares during the quarter. Ross Stores accounts for about 7.4% of PYA Waltman Capital LLC’s holdings, making the stock its 2nd largest position. PYA Waltman Capital LLC’s holdings in Ross Stores were worth $17,816,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its position in Ross Stores by 9.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 919 shares of the apparel retailer’s stock valued at $127,000 after purchasing an additional 76 shares in the last quarter. Greenleaf Trust grew its position in Ross Stores by 1.6% during the fourth quarter. Greenleaf Trust now owns 5,133 shares of the apparel retailer’s stock valued at $710,000 after purchasing an additional 80 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Ross Stores by 52.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 83 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in Ross Stores by 1.6% during the third quarter. Atria Wealth Solutions Inc. now owns 5,309 shares of the apparel retailer’s stock valued at $600,000 after purchasing an additional 85 shares in the last quarter. Finally, Steph & Co. grew its position in Ross Stores by 4.5% during the third quarter. Steph & Co. now owns 2,048 shares of the apparel retailer’s stock valued at $231,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Insider Transactions at Ross Stores

In other news, insider Michael K. Kobayashi sold 13,860 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $147.46, for a total transaction of $2,043,795.60. Following the completion of the transaction, the insider now directly owns 61,657 shares of the company’s stock, valued at approximately $9,091,941.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Michael K. Kobayashi sold 13,860 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $147.46, for a total transaction of $2,043,795.60. Following the completion of the transaction, the insider now directly owns 61,657 shares of the company’s stock, valued at approximately $9,091,941.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Larree M. Renda sold 4,168 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $147.89, for a total transaction of $616,405.52. Following the transaction, the director now directly owns 3,166 shares of the company’s stock, valued at $468,219.74. The disclosure for this sale can be found here. In the last three months, insiders sold 71,097 shares of company stock valued at $10,396,178. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

ROST has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Ross Stores from $155.00 to $161.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. BMO Capital Markets boosted their target price on shares of Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Evercore ISI boosted their target price on shares of Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Robert W. Baird boosted their target price on shares of Ross Stores from $145.00 to $162.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Finally, Loop Capital boosted their target price on shares of Ross Stores from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.21.

Ross Stores Stock Performance

Ross Stores stock traded down $1.51 during mid-day trading on Tuesday, reaching $129.55. The company had a trading volume of 3,214,011 shares, compared to its average volume of 2,026,581. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45. Ross Stores, Inc. has a 52 week low of $99.00 and a 52 week high of $151.12. The company has a 50 day moving average of $142.22 and a 200-day moving average of $135.82. The firm has a market cap of $43.62 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.90 and a beta of 1.04.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the firm earned $1.31 EPS. The business’s revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts expect that Ross Stores, Inc. will post 5.89 EPS for the current fiscal year.

Ross Stores declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 5th that permits the company to buyback $2.10 billion in shares. This buyback authorization permits the apparel retailer to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Ross Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 14th. Ross Stores’s dividend payout ratio (DPR) is presently 26.44%.

About Ross Stores

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.