Unique Wealth Strategies LLC Invests $750,000 in Ross Stores, Inc. (NASDAQ:ROST)

Unique Wealth Strategies LLC purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,421 shares of the apparel retailer’s stock, valued at approximately $750,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ROST. Clearstead Advisors LLC boosted its stake in Ross Stores by 458.0% in the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock worth $32,000 after purchasing an additional 229 shares during the period. Geneos Wealth Management Inc. boosted its stake in Ross Stores by 52.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 83 shares during the period. Rock Creek Group LP bought a new position in Ross Stores in the 3rd quarter worth about $35,000. Steward Financial Group LLC boosted its stake in Ross Stores by 164.1% in the 3rd quarter. Steward Financial Group LLC now owns 338 shares of the apparel retailer’s stock worth $38,000 after purchasing an additional 210 shares during the period. Finally, McGlone Suttner Wealth Management Inc. bought a new position in Ross Stores in the 4th quarter worth about $51,000. Institutional investors own 86.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Jefferies Financial Group raised their target price on Ross Stores from $135.00 to $147.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. BMO Capital Markets raised their target price on Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Loop Capital raised their price target on Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Barclays raised their price target on Ross Stores from $160.00 to $163.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Finally, Morgan Stanley raised their price target on Ross Stores from $155.00 to $161.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.21.

Insiders Place Their Bets

In other Ross Stores news, COO Michael J. Hartshorn sold 21,056 shares of Ross Stores stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the transaction, the chief operating officer now directly owns 114,488 shares of the company’s stock, valued at approximately $16,616,788.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Larree M. Renda sold 4,168 shares of Ross Stores stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value 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 filing with the SEC, which is available through this link. Also, COO Michael J. Hartshorn sold 21,056 shares of Ross Stores stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the completion of the sale, the chief operating officer now owns 114,488 shares in the company, valued at $16,616,788.32. The disclosure for this sale can be found here. Insiders have sold 71,097 shares of company stock valued at $10,396,178 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Ross Stores Price Performance

Shares of NASDAQ ROST traded up $1.46 during trading hours on Friday, reaching $133.61. 1,958,373 shares of the stock traded hands, compared to its average volume of 1,939,351. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45. The company’s 50-day simple moving average is $142.78 and its two-hundred day simple moving average is $135.26. The company has a market capitalization of $44.99 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 1.88 and a beta of 1.04. Ross Stores, Inc. has a 52-week low of $99.00 and a 52-week high of $151.12.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.19. The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 EPS. Equities research analysts forecast that Ross Stores, Inc. will post 5.89 EPS for the current year.

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.3675 dividend. This is a boost from Ross Stores’s previous quarterly dividend of $0.34. This represents a $1.47 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Thursday, March 14th. Ross Stores’s payout ratio is 26.44%.

Ross Stores announced that its Board of Directors has authorized a share buyback program on Tuesday, March 5th that allows the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

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.