Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,297 shares of the apparel retailer’s stock after selling 1,382 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Ross Stores were worth $3,224,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ROST. AE Wealth Management LLC lifted its holdings in Ross Stores by 39.4% during the 3rd quarter. AE Wealth Management LLC now owns 13,142 shares of the apparel retailer’s stock worth $1,484,000 after buying an additional 3,717 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Ross Stores by 14.1% during the 3rd quarter. Global Retirement Partners LLC now owns 783 shares of the apparel retailer’s stock worth $88,000 after buying an additional 97 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Ross Stores by 3.0% in the 3rd quarter. DAVENPORT & Co LLC now owns 6,286 shares of the apparel retailer’s stock valued at $710,000 after purchasing an additional 182 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of Ross Stores in the 3rd quarter valued at $1,077,000. Finally, Czech National Bank raised its holdings in shares of Ross Stores by 47.0% in the 3rd quarter. Czech National Bank now owns 59,539 shares of the apparel retailer’s stock valued at $6,725,000 after purchasing an additional 19,031 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ross Stores

In related news, Director Patricia H. Mueller sold 2,265 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $145.38, for a total value of $329,285.70. Following the completion of the sale, the director now owns 1,914 shares in the company, valued at $278,257.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ross Stores news, COO Michael J. Hartshorn sold 21,056 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $145.14, for a total value of $3,056,067.84. Following the sale, the chief operating officer now owns 114,488 shares of the company’s stock, valued at $16,616,788.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia H. Mueller sold 2,265 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $145.38, for a total transaction of $329,285.70. Following the completion of the sale, the director now directly owns 1,914 shares in the company, valued at approximately $278,257.32. The disclosure for this sale can be found here. Insiders sold 71,097 shares of company stock worth $10,396,178 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ROST shares. Barclays raised their price objective on shares of Ross Stores from $160.00 to $163.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Morgan Stanley raised their price objective on shares of Ross Stores from $155.00 to $161.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Loop Capital raised their price objective on shares of Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. TD Cowen increased their target price on shares of Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Finally, Evercore ISI increased their target price on shares of Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.21.

Ross Stores Stock Performance

Shares of NASDAQ:ROST traded up $1.46 during midday trading on Friday, hitting $133.61. The stock had a trading volume of 1,958,373 shares, compared to its average volume of 1,993,171. The company has a market capitalization of $44.99 billion, a PE ratio of 24.03, a P/E/G ratio of 1.89 and a beta of 1.04. The stock has a 50 day moving average price of $142.78 and a two-hundred day moving average price of $135.26. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. Ross Stores, Inc. has a 1 year low of $99.00 and a 1 year high of $151.12.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.19. The business had revenue of $6.02 billion for 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 business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous 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 announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 5th that allows the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization allows the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.3675 dividend. This is an increase 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 dividend yield of 1.10%. Ross Stores’s payout ratio 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.