Azimuth Capital Investment Management LLC Purchases 56,335 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Azimuth Capital Investment Management LLC lifted its position in shares of Ross Stores, Inc. (NASDAQ:ROSTFree Report) by 75.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,552 shares of the apparel retailer’s stock after acquiring an additional 56,335 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Ross Stores were worth $18,067,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Geneos Wealth Management Inc. increased its position in Ross Stores by 52.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 83 shares in the last quarter. Rock Creek Group LP acquired a new stake in shares of Ross Stores during the 3rd quarter valued at $35,000. McGlone Suttner Wealth Management Inc. bought a new stake in Ross Stores during the 4th quarter worth $51,000. Mendota Financial Group LLC acquired a new position in Ross Stores in the 4th quarter worth about $61,000. Finally, Park Place Capital Corp raised its position in Ross Stores by 34.0% in the fourth quarter. Park Place Capital Corp now owns 465 shares of the apparel retailer’s stock valued at $64,000 after purchasing an additional 118 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ROST. BMO Capital Markets upped their price objective on Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group raised their price target on shares of Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Jefferies Financial Group increased their price objective on Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. lifted their target price on Ross Stores from $150.00 to $163.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, TD Cowen increased their price target on Ross Stores from $173.00 to $176.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Ross Stores currently has a consensus rating of “Moderate Buy” and an average price target of $156.58.

Get Our Latest Stock Report on Ross Stores

Insiders Place Their Bets

In other news, Director Patricia H. Mueller sold 941 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total value of $130,206.17. Following the transaction, the director now owns 973 shares in the company, valued at $134,634.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Patricia H. Mueller sold 941 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total transaction of $130,206.17. Following the transaction, the director now directly owns 973 shares in the company, valued at $134,634.01. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Larree M. Renda sold 4,168 shares of Ross Stores stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total transaction of $616,405.52. Following 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. In the last ninety days, insiders sold 72,038 shares of company stock valued at $10,526,384. Corporate insiders own 2.10% of the company’s stock.

Ross Stores Stock Up 0.1 %

ROST stock traded up $0.12 during trading on Friday, reaching $144.28. 2,032,869 shares of the stock were exchanged, compared to its average volume of 2,968,571. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. Ross Stores, Inc. has a twelve month low of $101.59 and a twelve month high of $151.12. The firm’s 50 day moving average is $135.91 and its 200 day moving average is $138.75. The firm has a market cap of $48.58 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 2.53 and a beta of 1.08.

Ross Stores (NASDAQ:ROSTGet Free Report) last posted its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.11. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the firm posted $1.09 EPS. Ross Stores’s revenue was up 8.1% compared to the same quarter last year. As a group, research analysts forecast that Ross Stores, Inc. will post 5.96 EPS for the current year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be paid a dividend of $0.3675 per share. The ex-dividend date is Tuesday, June 11th. This represents a $1.47 dividend on an annualized basis and a yield of 1.02%. Ross Stores’s dividend payout ratio (DPR) is currently 24.79%.

Ross Stores announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 5th that allows the company to buyback $2.10 billion in shares. This buyback authorization allows the apparel retailer to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

About Ross Stores

(Free Report)

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.

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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