Modern Wealth Management LLC Buys New Shares in Ross Stores, Inc. (NASDAQ:ROST)

Modern Wealth Management LLC bought a new stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,021 shares of the apparel retailer's stock, valued at approximately $287,000.

A number of other institutional investors have also made changes to their positions in the business. Hahn Capital Management LLC increased its position in Ross Stores by 40.9% in the 4th quarter. Hahn Capital Management LLC now owns 74,059 shares of the apparel retailer's stock valued at $11,203,000 after acquiring an additional 21,500 shares in the last quarter. Sovran Advisors LLC bought a new stake in shares of Ross Stores during the fourth quarter valued at approximately $269,000. Oppenheimer & Co. Inc. increased its holdings in shares of Ross Stores by 22.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,847 shares of the apparel retailer's stock valued at $431,000 after purchasing an additional 524 shares in the last quarter. Oak Ridge Investments LLC raised its position in Ross Stores by 10.6% in the 4th quarter. Oak Ridge Investments LLC now owns 115,849 shares of the apparel retailer's stock worth $17,524,000 after purchasing an additional 11,060 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Ross Stores by 137.7% during the 4th quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer's stock worth $299,583,000 after buying an additional 1,144,774 shares in the last quarter. 86.86% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CMO Karen Fleming sold 5,339 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.73, for a total transaction of $671,272.47. Following the completion of the transaction, the chief marketing officer now directly owns 94,063 shares of the company's stock, valued at $11,826,540.99. This represents a 5.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael J. Hartshorn sold 7,492 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were 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 in the company, valued at $17,760,529.79. The trade was a 5.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ROST shares. Evercore ISI decreased their price target on Ross Stores from $175.00 to $170.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. Wells Fargo & Company reaffirmed a "negative" rating on shares of Ross Stores in a research note on Wednesday, March 5th. Loop Capital dropped their price target on shares of Ross Stores from $190.00 to $175.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. StockNews.com cut shares of Ross Stores from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, BMO Capital Markets dropped their target price 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $161.40.

Ross Stores Stock Up 1.0 %

Shares of NASDAQ ROST traded up $1.32 during mid-day trading on Tuesday, reaching $129.11. 1,903,994 shares of the company's stock were exchanged, compared to its average volume of 2,564,996. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $163.60. 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 firm has a market capitalization of $42.60 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.13 and a beta of 1.15. The business has a fifty day simple moving average of $136.98 and a 200 day simple moving average of $144.41.

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

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a $0.405 dividend. The ex-dividend date was Tuesday, March 18th. This is a positive change from Ross Stores's previous quarterly dividend of $0.37. This represents a $1.62 dividend on an annualized basis and a yield of 1.25%. Ross Stores's dividend payout ratio is presently 25.63%.

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.