NewEdge Advisors LLC Sells 3,102 Shares of Ross Stores, Inc. (NASDAQ:ROST)

NewEdge Advisors LLC trimmed its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 17.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,556 shares of the apparel retailer's stock after selling 3,102 shares during the period. NewEdge Advisors LLC's holdings in Ross Stores were worth $2,202,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of Ross Stores by 8.3% during the third quarter. Principal Financial Group Inc. now owns 1,965,695 shares of the apparel retailer's stock worth $295,857,000 after purchasing an additional 151,255 shares in the last quarter. SkyView Investment Advisors LLC raised its stake in Ross Stores by 3.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 17,772 shares of the apparel retailer's stock worth $2,675,000 after buying an additional 649 shares during the period. Arvest Bank Trust Division bought a new position in Ross Stores during the third quarter worth about $244,000. Wilmington Savings Fund Society FSB grew its stake in Ross Stores by 231.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 8,161 shares of the apparel retailer's stock valued at $1,228,000 after acquiring an additional 5,696 shares during the period. Finally, Peapack Gladstone Financial Corp increased its holdings in shares of Ross Stores by 1.8% in the third 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 in the last quarter. Institutional investors own 86.86% of the company's stock.

Ross Stores Stock Performance

Shares of NASDAQ ROST traded down $0.22 during midday trading on Friday, hitting $139.71. 2,289,826 shares of the company's stock were exchanged, compared to its average volume of 2,664,073. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $45.94 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 2.13 and a beta of 1.11. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60. The company's 50 day moving average price is $133.36 and its 200 day moving average price is $142.68.

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

Ross Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $0.405 dividend. This is a boost from Ross Stores's previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, March 18th. This represents a $1.62 annualized dividend and a yield of 1.16%. Ross Stores's payout ratio is 25.63%.

Insiders Place Their Bets

In related news, Chairman Michael Balmuth sold 11,261 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total value of $1,481,947.60. Following the transaction, the chairman now owns 59,790 shares in the company, valued at approximately $7,868,364. This trade represents a 15.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Karen Sykes sold 5,036 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $130.48, for a total transaction of $657,097.28. Following the sale, the chief marketing officer now directly owns 110,365 shares of the company's stock, valued at $14,400,425.20. This represents a 4.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,398 shares of company stock worth $4,439,950 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ROST has been the subject of several research analyst reports. Barclays set a $150.00 price objective on Ross Stores in a research report on Wednesday, March 5th. Telsey Advisory Group cut their price target on Ross Stores from $175.00 to $150.00 and set a "market perform" rating on the stock in a report on Wednesday, March 5th. Citigroup upgraded Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price objective for the company in a report on Thursday, April 3rd. Morgan Stanley cut their target price on 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. Finally, BMO Capital Markets decreased 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 note on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Ross Stores presently has an average rating of "Moderate Buy" and an average price target of $160.87.

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.