Geneos Wealth Management Inc. Increases Position in Ross Stores, Inc. (NASDAQ:ROST)

Geneos Wealth Management Inc. lifted its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 52.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 240 shares of the apparel retailer’s stock after acquiring an additional 83 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Ross Stores were worth $33,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ROST. Norges Bank bought a new stake in Ross Stores in the fourth quarter valued at about $369,081,000. Morgan Stanley increased its holdings in Ross Stores by 84.6% in the fourth quarter. Morgan Stanley now owns 4,742,218 shares of the apparel retailer’s stock valued at $550,429,000 after buying an additional 2,173,922 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Ross Stores by 21.0% in the first quarter. JPMorgan Chase & Co. now owns 6,036,224 shares of the apparel retailer’s stock valued at $640,624,000 after buying an additional 1,048,817 shares during the last quarter. Wellington Management Group LLP increased its holdings in Ross Stores by 19.5% in the third quarter. Wellington Management Group LLP now owns 4,121,854 shares of the apparel retailer’s stock valued at $465,563,000 after buying an additional 673,670 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Ross Stores by 14.1% in the second quarter. Goldman Sachs Group Inc. now owns 5,355,761 shares of the apparel retailer’s stock valued at $600,541,000 after buying an additional 662,825 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ROST. Citigroup boosted their price objective on Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Wells Fargo & Company boosted their price objective on Ross Stores from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, December 22nd. Jefferies Financial Group lifted their target price on Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Robert W. Baird lifted their target price on Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Finally, Loop Capital lifted their target price on Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.21.

Insiders Place Their Bets

In other Ross Stores news, Director Larree M. Renda sold 4,168 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value of $616,405.52. Following the completion of the sale, the director now directly owns 3,166 shares in the company, valued at $468,219.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ross Stores news, insider Michael K. Kobayashi sold 13,860 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.46, for a total value of $2,043,795.60. Following the transaction, the insider now owns 61,657 shares of the company’s stock, valued at $9,091,941.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Larree M. Renda sold 4,168 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $147.89, for a total value of $616,405.52. Following the completion of the transaction, the director now directly owns 3,166 shares in the company, valued at approximately $468,219.74. The disclosure for this sale can be found here. Insiders sold 71,097 shares of company stock worth $10,396,178 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Ross Stores Stock Performance

Shares of NASDAQ ROST opened at $132.79 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $144.48 and a 200-day simple moving average of $134.42. The company has a market cap of $44.71 billion, a PE ratio of 23.88, a P/E/G ratio of 1.91 and a beta of 1.04. Ross Stores, Inc. has a 12-month low of $99.00 and a 12-month high of $151.12.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.19. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The business’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 earnings per share. On average, equities research analysts forecast that Ross Stores, Inc. will post 5.89 EPS for the current year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 1.11%. This is an increase from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 14th. Ross Stores’s dividend payout ratio is 26.44%.

Ross Stores declared that its board has initiated a stock buyback plan on Tuesday, March 5th that authorizes the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.