Meadowbrook Advisors Group LLC purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 12,506 shares of the apparel retailer’s stock, valued at approximately $2,253,000. Ross Stores comprises 1.3% of Meadowbrook Advisors Group LLC’s investment portfolio, making the stock its 24th largest holding.
Several other large investors also recently added to or reduced their stakes in the company. Somerset Trust Co increased its stake in shares of Ross Stores by 0.4% in the fourth quarter. Somerset Trust Co now owns 14,788 shares of the apparel retailer’s stock worth $2,664,000 after purchasing an additional 55 shares in the last quarter. Independent Advisor Alliance raised its holdings in Ross Stores by 1.7% during the 4th quarter. Independent Advisor Alliance now owns 3,309 shares of the apparel retailer’s stock valued at $596,000 after acquiring an additional 55 shares during the period. CYBER HORNET ETFs LLC raised its holdings in Ross Stores by 6.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 954 shares of the apparel retailer’s stock valued at $172,000 after acquiring an additional 55 shares during the period. Florida Trust Wealth Management Co lifted its position in shares of Ross Stores by 1.7% during the fourth quarter. Florida Trust Wealth Management Co now owns 3,399 shares of the apparel retailer’s stock worth $612,000 after acquiring an additional 56 shares in the last quarter. Finally, MCF Advisors LLC boosted its holdings in shares of Ross Stores by 4.6% in the fourth quarter. MCF Advisors LLC now owns 1,292 shares of the apparel retailer’s stock worth $233,000 after acquiring an additional 57 shares during the period. Hedge funds and other institutional investors own 86.86% of the company’s stock.
Ross Stores Price Performance
Ross Stores stock opened at $232.80 on Friday. Ross Stores, Inc. has a 52 week low of $124.49 and a 52 week high of $242.81. The business has a 50-day simple moving average of $226.33 and a 200 day simple moving average of $206.35. The company has a quick ratio of 0.94, a current ratio of 1.54 and a debt-to-equity ratio of 0.12. The stock has a market cap of $74.68 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 2.61 and a beta of 0.86.
Ross Stores Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.445 per share. The ex-dividend date is Tuesday, June 9th. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. Ross Stores’s dividend payout ratio (DPR) is 24.86%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on ROST shares. Guggenheim reiterated a “buy” rating and issued a $290.00 price target on shares of Ross Stores in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $257.00 target price on shares of Ross Stores in a research note on Friday, May 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ross Stores in a report on Wednesday, April 8th. Barclays raised their price objective on shares of Ross Stores from $242.00 to $260.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Ross Stores in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Ross Stores has an average rating of “Moderate Buy” and a consensus target price of $233.18.
Check Out Our Latest Research Report on Ross Stores
Insider Buying and Selling at Ross Stores
In other news, CMO Karen Sykes sold 5,506 shares of Ross Stores stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $213.40, for a total transaction of $1,174,980.40. Following the completion of the sale, the chief marketing officer directly owned 104,648 shares of the company’s stock, valued at approximately $22,331,883.20. The trade was a 5.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael J. Hartshorn sold 15,813 shares of Ross Stores stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $214.91, for a total transaction of $3,398,371.83. Following the sale, the chief operating officer directly owned 116,028 shares of the company’s stock, valued at $24,935,577.48. This represents a 11.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.10% of the company’s stock.
About Ross Stores
Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.
Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.
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