Vest Financial LLC Takes Position in Ross Stores, Inc. (NASDAQ:ROST)

Vest Financial LLC acquired a new stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 196,315 shares of the apparel retailer's stock, valued at approximately $25,087,000. Vest Financial LLC owned approximately 0.06% of Ross Stores as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ROST. Forum Financial Management LP increased its stake in Ross Stores by 5.3% in the fourth quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer's stock valued at $223,000 after purchasing an additional 74 shares during the last quarter. Key Financial Inc grew its holdings in Ross Stores by 13.2% in the 4th quarter. Key Financial Inc now owns 662 shares of the apparel retailer's stock valued at $100,000 after buying an additional 77 shares during the period. Frank Rimerman Advisors LLC increased its stake in shares of Ross Stores by 2.6% during the 4th quarter. Frank Rimerman Advisors LLC now owns 3,105 shares of the apparel retailer's stock valued at $470,000 after acquiring an additional 79 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Ross Stores by 3.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 2,983 shares of the apparel retailer's stock valued at $451,000 after acquiring an additional 89 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Ross Stores by 2.4% during the 4th quarter. Allworth Financial LP now owns 3,895 shares of the apparel retailer's stock worth $583,000 after acquiring an additional 93 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Stock Down 1.5%

Shares of ROST stock traded down $2.08 on Tuesday, hitting $140.08. The stock had a trading volume of 2,159,613 shares, compared to its average volume of 2,703,808. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. The stock's 50 day moving average is $141.39 and its 200-day moving average is $142.93. The firm has a market capitalization of $46.06 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 2.13 and a beta of 1.14. Ross Stores, Inc. has a 52-week low of $122.36 and a 52-week high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.03. The business had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.94 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The business's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 earnings per share. As a group, research analysts expect that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, June 10th. Ross Stores's dividend payout ratio (DPR) is presently 25.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ROST shares. Loop Capital lowered their target price on shares of Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Morgan Stanley lowered their price objective on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating for the company in a research note on Friday, May 23rd. Barclays dropped their price objective on Ross Stores from $157.00 to $156.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Wall Street Zen cut Ross Stores from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, BMO Capital Markets lowered their price target on Ross Stores from $168.00 to $156.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Five 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 company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Buying and Selling

In related news, CMO Karen Fleming sold 5,339 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.73, for a total transaction of $671,272.47. Following the sale, the chief marketing officer now owns 94,063 shares in the company, valued at $11,826,540.99. This represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Michael Balmuth sold 11,261 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total transaction of $1,481,947.60. Following the completion of the transaction, the chairman now directly owns 59,790 shares in the company, valued at $7,868,364. This represents a 15.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,398 shares of company stock worth $4,439,950 over the last ninety days. 2.20% of the stock is owned by insiders.

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.