Belpointe Asset Management LLC Purchases 1,943 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Belpointe Asset Management LLC raised its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 58.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,287 shares of the apparel retailer's stock after purchasing an additional 1,943 shares during the period. Belpointe Asset Management LLC's holdings in Ross Stores were worth $796,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Peapack Gladstone Financial Corp raised its holdings in shares of Ross Stores by 1.8% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 3,910 shares of the apparel retailer's stock worth $588,000 after acquiring an additional 70 shares during the last quarter. Alhambra Investment Management LLC raised its position in Ross Stores by 5.2% in the 4th quarter. Alhambra Investment Management LLC now owns 1,549 shares of the apparel retailer's stock valued at $234,000 after buying an additional 76 shares during the last quarter. Key Financial Inc grew its stake in shares of Ross Stores by 13.2% in the 4th quarter. Key Financial Inc now owns 662 shares of the apparel retailer's stock worth $100,000 after acquiring an additional 77 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of Ross Stores by 2.6% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,105 shares of the apparel retailer's stock valued at $470,000 after purchasing an additional 79 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its holdings in Ross Stores by 3.1% during the fourth quarter. Kingsview Wealth Management LLC now owns 2,983 shares of the apparel retailer's stock worth $451,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company's stock.

Ross Stores Price Performance

NASDAQ:ROST traded down $3.70 during midday trading on Monday, hitting $135.93. The company had a trading volume of 423,630 shares, compared to its average volume of 2,654,270. The company has a market capitalization of $44.70 billion, a PE ratio of 21.41, a P/E/G ratio of 2.13 and a beta of 1.11. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60. The stock's fifty day moving average price is $133.48 and its 200-day moving average price is $142.81.

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

Ross Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were 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 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Tuesday, March 18th. Ross Stores's dividend payout ratio (DPR) is 25.63%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ROST shares. UBS Group decreased 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. BMO Capital Markets reduced their price target on shares of Ross Stores from $168.00 to $156.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Morgan Stanley dropped their target price on shares of Ross Stores from $140.00 to $130.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. Loop Capital dropped their price objective on Ross Stores from $190.00 to $175.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Finally, Barclays set a $150.00 target price on Ross Stores in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $160.87.

Insider Transactions at Ross Stores

In related news, CMO Karen Fleming sold 5,339 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.73, for a total value of $671,272.47. Following the sale, the chief marketing officer now directly owns 94,063 shares of the company's stock, valued at $11,826,540.99. This trade represents a 5.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael J. Hartshorn sold 7,492 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $127.69, for a total value of $956,653.48. Following the completion of the sale, the chief operating officer now owns 139,091 shares of the company's stock, valued at approximately $17,760,529.79. This trade represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,398 shares of company stock worth $4,439,950. Company insiders own 2.10% of the company's stock.

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