Gladstone Institutional Advisory LLC Purchases New Position in Ross Stores, Inc. (NASDAQ:ROST)

Gladstone Institutional Advisory LLC acquired a new stake in Ross Stores, Inc. (NASDAQ:ROST) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,766 shares of the apparel retailer’s stock, valued at approximately $798,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clearstead Advisors LLC grew its stake 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 worth $32,000 after acquiring an additional 229 shares during the period. Geneos Wealth Management Inc. grew its position 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 purchased a new stake in Ross Stores during the 3rd quarter valued at $35,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Ross Stores during the 4th quarter valued at $51,000. Finally, Mendota Financial Group LLC purchased a new position in shares of Ross Stores in the 4th quarter worth $61,000. 86.86% of the stock is owned by institutional investors.

Ross Stores Stock Performance

Ross Stores stock opened at $132.30 on Wednesday. Ross Stores, Inc. has a fifty-two week low of $100.66 and a fifty-two week high of $151.12. The company has a market capitalization of $44.55 billion, a PE ratio of 23.79, a P/E/G ratio of 1.87 and a beta of 1.06. The company has a 50 day moving average price of $137.50 and a 200-day moving average price of $137.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, topping the consensus estimate of $1.63 by $0.19. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. Ross Stores’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the business posted $1.31 EPS. As a group, equities analysts forecast that Ross Stores, Inc. will post 5.88 earnings per share for the current year.

Ross Stores declared that its board has approved a share repurchase program on Tuesday, March 5th that permits the company to buyback $2.10 billion in outstanding shares. This buyback authorization permits the apparel retailer to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Ross Stores Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a yield of 1.11%. 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. Ross Stores’s payout ratio is 26.44%.

Insiders Place Their Bets

In other Ross Stores news, CMO Brian R. Morrow sold 10,734 shares of Ross Stores stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the completion of the sale, the chief marketing officer now owns 62,711 shares of the company’s stock, valued at approximately $9,155,806. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Larree M. Renda sold 4,168 shares of Ross Stores stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value of $616,405.52. Following the completion of the transaction, the director now owns 3,166 shares in the company, valued at approximately $468,219.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Brian R. Morrow sold 10,734 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total value of $1,567,164.00. Following the sale, the chief marketing officer now owns 62,711 shares of the company’s stock, valued at $9,155,806. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,097 shares of company stock valued at $10,396,178. 2.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ROST. Jefferies Financial Group boosted their price target on Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Barclays boosted 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. BMO Capital Markets lifted their price objective on Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. increased their target price on shares of Ross Stores from $150.00 to $163.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, Citigroup upped their price target on shares of Ross Stores from $147.00 to $172.00 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. According to MarketBeat.com, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.11.

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.