Team Hewins LLC Purchases Shares of 1,977 Ross Stores, Inc. (NASDAQ:ROST)

Team Hewins LLC acquired a new position in shares of Ross Stores, Inc. (NASDAQ:ROST) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,977 shares of the apparel retailer’s stock, valued at approximately $274,000.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in shares of Ross Stores by 9.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 888 shares of the apparel retailer’s stock valued at $123,000 after buying an additional 73 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Ross Stores by 9.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 919 shares of the apparel retailer’s stock worth $127,000 after purchasing an additional 76 shares in the last quarter. Greenleaf Trust lifted its position in shares of Ross Stores by 1.6% during the fourth quarter. Greenleaf Trust now owns 5,133 shares of the apparel retailer’s stock worth $710,000 after purchasing an additional 80 shares in the last quarter. Geneos Wealth Management Inc. grew 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 valued at $33,000 after purchasing an additional 83 shares during the last quarter. Finally, Atria Wealth Solutions Inc. increased its holdings in shares of Ross Stores by 1.6% in the third quarter. Atria Wealth Solutions Inc. now owns 5,309 shares of the apparel retailer’s stock valued at $600,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. The Goldman Sachs Group increased their price objective on Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. TD Cowen boosted their price objective on Ross Stores from $173.00 to $176.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley raised their target price on shares of Ross Stores from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday. Guggenheim boosted their price target on shares of Ross Stores from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday. Finally, 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 research note on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.58.

Ross Stores Stock Up 7.8 %

Shares of NASDAQ:ROST traded up $10.27 during mid-day trading on Friday, reaching $142.13. 7,641,385 shares of the stock were exchanged, compared to its average volume of 2,725,999. The stock’s 50 day simple moving average is $136.85 and its 200-day simple moving average is $137.66. Ross Stores, Inc. has a one year low of $100.66 and a one year high of $151.12. The company has a market cap of $47.86 billion, a P/E ratio of 23.97, a P/E/G ratio of 2.14 and a beta of 1.06. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.11. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Ross Stores had a net margin of 9.60% and a return on equity of 42.95%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. As a group, equities research analysts predict that Ross Stores, Inc. will post 5.93 EPS for the current year.

Ross Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be paid a dividend of $0.3675 per share. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.03%. Ross Stores’s dividend payout ratio is 24.79%.

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

Insider Activity

In related news, CMO Brian R. Morrow sold 10,734 shares of the company’s 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 sale, the chief marketing officer now owns 62,711 shares in the company, valued at $9,155,806. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CMO Brian R. Morrow sold 10,734 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total value of $1,567,164.00. Following the completion of the transaction, the chief marketing officer now directly owns 62,711 shares of the company’s stock, valued at $9,155,806. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Patricia H. Mueller sold 2,265 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.38, for a total transaction of $329,285.70. Following the sale, the director now directly owns 1,914 shares in the company, valued at $278,257.32. The disclosure for this sale can be found here. Insiders sold 71,097 shares of company stock worth $10,396,178 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

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.