Ross Stores, Inc. (NASDAQ:ROST) Shares Acquired by Clearstead Trust LLC

Clearstead Trust LLC grew its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 1,943.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,229 shares of the apparel retailer’s stock after purchasing an additional 4,022 shares during the quarter. Clearstead Trust LLC’s holdings in Ross Stores were worth $585,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ROST. Geneos Wealth Management Inc. increased its stake in shares of Ross Stores by 52.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after buying an additional 83 shares during the period. Clearstead Advisors LLC raised its holdings in shares of Ross Stores by 458.0% in the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock valued at $32,000 after purchasing an additional 229 shares in the last quarter. Rock Creek Group LP purchased a new stake in shares of Ross Stores during the 3rd quarter worth $35,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Ross Stores during the fourth quarter worth $51,000. Finally, Mendota Financial Group LLC purchased a new position in Ross Stores in the fourth quarter valued at $61,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Stock Performance

Shares of NASDAQ:ROST traded up $3.16 during midday trading on Friday, hitting $130.84. The stock had a trading volume of 3,732,548 shares, compared to its average volume of 2,338,168. Ross Stores, Inc. has a 1 year low of $99.00 and a 1 year high of $151.12. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average price of $141.16 and a two-hundred day moving average price of $135.81. The company has a market capitalization of $44.05 billion, a PE ratio of 23.53, a P/E/G ratio of 1.82 and a beta of 1.06.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 earnings per share. As a group, equities analysts predict that Ross Stores, Inc. will post 5.89 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.3675 dividend. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.47 annualized dividend and a yield of 1.12%. Ross Stores’s dividend payout ratio is presently 26.44%.

Ross Stores declared that its Board of Directors has initiated a stock repurchase program 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 programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Robert W. Baird upped their price objective on Ross Stores from $145.00 to $162.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. UBS Group raised their price objective on shares of Ross Stores from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Evercore ISI upped their target price on shares of Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. TD Cowen lifted their price target on shares of Ross Stores from $144.00 to $169.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ross Stores from $150.00 to $163.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.21.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, Director Larree M. Renda sold 4,168 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $147.89, for a total transaction of $616,405.52. Following the sale, the director now directly owns 3,166 shares in the company, valued at approximately $468,219.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ross Stores news, insider Michael K. Kobayashi sold 13,860 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $147.46, for a total value 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 $9,091,941.22. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Larree M. Renda sold 4,168 shares of Ross Stores stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.89, for a total transaction of $616,405.52. Following the sale, the director now owns 3,166 shares of the company’s stock, valued at $468,219.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,097 shares of company stock valued at $10,396,178. 2.10% of the stock is owned by company insiders.

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.