Ross Stores, Inc. (NASDAQ:ROST) Shares Sold by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC trimmed its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 26.7% during the first quarter, Holdings Channel reports. The institutional investor owned 305 shares of the apparel retailer’s stock after selling 111 shares during the period. Bruce G. Allen Investments LLC’s holdings in Ross Stores were worth $39,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of Ross Stores by 152.9% in the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in shares of Ross Stores during the 4th quarter valued at about $31,000. Putney Financial Group LLC purchased a new stake in shares of Ross Stores during the 4th quarter valued at about $44,000. Cary Street Partners Financial LLC purchased a new stake in shares of Ross Stores during the 4th quarter valued at about $48,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Ross Stores during the 4th quarter valued at about $51,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Michael Balmuth sold 11,261 shares of the 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 completion of the transaction, the chairman now owns 59,790 shares of the company’s stock, valued at approximately $7,868,364. This represents a 15.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Karen Fleming sold 5,339 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $125.73, for a total value 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 approximately $11,826,540.99. The trade was a 5.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,398 shares of company stock valued at $4,439,950 over the last three months. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ROST shares. Telsey Advisory Group reiterated a “market perform” rating and set a $150.00 target price on shares of Ross Stores in a report on Friday, May 23rd. Robert W. Baird dropped their target price on Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. BMO Capital Markets dropped their price objective on Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. UBS Group dropped their price objective on Ross Stores from $168.00 to $163.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Finally, Evercore ISI dropped their price objective on Ross Stores from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.67.

Ross Stores Stock Performance

ROST stock opened at $142.16 on Tuesday. The firm has a market cap of $46.75 billion, a P/E ratio of 22.39, a P/E/G ratio of 2.13 and a beta of 1.14. The stock’s 50 day simple moving average is $141.22 and its 200 day simple moving average is $142.95. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. Ross Stores, Inc. has a 12-month low of $122.36 and a 12-month high of $163.60.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.03. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same period last year, the company earned $1.46 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities research analysts predict that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.14%. The ex-dividend date is Tuesday, June 10th. Ross Stores’s dividend payout ratio is presently 25.59%.

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.