Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its position in shares of Ross Stores, Inc. (NASDAQ:ROST) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,697 shares of the apparel retailer’s stock after selling 89 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Ross Stores were worth $1,618,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ROST. Larson Financial Group LLC boosted its stake in Ross Stores by 152.9% in the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock worth $27,000 after buying an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new position in shares of Ross Stores during the 4th quarter worth about $31,000. ORG Partners LLC boosted its position in shares of Ross Stores by 434.1% in the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 191 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Ross Stores during the fourth quarter worth approximately $51,000. Finally, Oakworth Capital Inc. acquired a new position in Ross Stores during the fourth quarter worth approximately $57,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Insider Transactions at Ross Stores

In other news, CMO Karen Fleming sold 5,339 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.73, for a total transaction of $671,272.47. Following the transaction, the chief marketing officer now owns 94,063 shares of the company’s stock, valued at approximately $11,826,540.99. This trade represents a 5.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ROST shares. Morgan Stanley lowered their price objective on shares of Ross Stores from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. UBS Group lowered their price target on Ross Stores from $168.00 to $163.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Evercore ISI cut their price objective on Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their target price on Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company restated a “negative” rating on shares of Ross Stores in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $161.40.

Ross Stores Price Performance

ROST opened at $123.54 on Friday. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $163.60. The firm has a market cap of $40.76 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 2.13 and a beta of 1.15. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $139.96 and a 200 day simple moving average of $145.67.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. Equities research analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.405 per share. This is a boost from Ross Stores’s previous quarterly dividend of $0.37. This represents a $1.62 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Tuesday, March 18th. Ross Stores’s dividend payout ratio is 25.63%.

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.