IFG Advisory LLC Decreases Stock Position in Ross Stores, Inc. (NASDAQ:ROST)

IFG Advisory LLC lowered its position in Ross Stores, Inc. (NASDAQ:ROST) by 36.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,374 shares of the apparel retailer’s stock after selling 6,547 shares during the quarter. IFG Advisory LLC’s holdings in Ross Stores were worth $1,574,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. First Capital Advisors Group LLC. purchased a new stake in shares of Ross Stores during the 2nd quarter valued at approximately $27,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Ross Stores during the fourth quarter worth $29,000. Quarry LP bought a new position in shares of Ross Stores in the first quarter worth $29,000. Clearstead Advisors LLC grew its position in shares of Ross Stores by 458.0% in the third 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. Finally, Rock Creek Group LP bought a new stake in shares of Ross Stores during the 3rd quarter valued at $35,000. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Price Performance

ROST stock opened at $147.19 on Thursday. 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 firm’s 50-day moving average price is $144.58 and its two-hundred day moving average price is $131.65. The stock has a market capitalization of $49.55 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 2.06 and a beta of 1.04. Ross Stores, Inc. has a 12-month low of $99.00 and a 12-month high of $151.12.

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

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.3675 per share. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.34. This represents a $1.47 annualized dividend and a dividend yield of 1.00%. Ross Stores’s payout ratio is currently 26.44%.

Ross Stores announced that its board has initiated a stock buyback plan on Tuesday, March 5th that authorizes the company to buyback $2.10 billion in shares. This buyback authorization authorizes the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

ROST has been the subject of a number of recent analyst reports. TD Cowen lifted their target price on Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Morgan Stanley upped their target price on shares of Ross Stores from $155.00 to $161.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Barclays raised their price target 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. Guggenheim upped their price target on shares of Ross Stores from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group increased their price objective on Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $155.21.

Insider Buying and Selling

In other news, COO Michael J. Hartshorn sold 21,056 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $145.14, for a total transaction of $3,056,067.84. Following the sale, the chief operating officer now owns 114,488 shares in the company, valued at approximately $16,616,788.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Michael J. Hartshorn sold 21,056 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.14, for a total transaction of $3,056,067.84. Following the completion of the transaction, the chief operating officer now owns 114,488 shares of the company’s stock, valued at approximately $16,616,788.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Patricia H. Mueller sold 2,265 shares of Ross Stores stock in a transaction on Monday, March 18th. The shares were sold at an average price of $145.38, for a total value of $329,285.70. Following the transaction, the director now owns 1,914 shares of the company’s stock, valued at approximately $278,257.32. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.