Clean Yield Group Grows Position in Ross Stores, Inc. (NASDAQ:ROST)

Clean Yield Group lifted its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 7.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,446 shares of the apparel retailer's stock after buying an additional 1,949 shares during the quarter. Ross Stores makes up about 1.2% of Clean Yield Group's investment portfolio, making the stock its 28th largest position. Clean Yield Group's holdings in Ross Stores were worth $3,635,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Forum Financial Management LP raised its position in shares of Ross Stores by 5.3% in the 4th 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 raised its position in shares of 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 purchasing an additional 77 shares during the last quarter. Frank Rimerman Advisors LLC raised its position in shares of Ross Stores by 2.6% in the 4th quarter. Frank Rimerman Advisors LLC now owns 3,105 shares of the apparel retailer's stock valued at $470,000 after purchasing an additional 79 shares during the last quarter. Kingsview Wealth Management LLC raised its position in shares of Ross Stores by 3.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 2,983 shares of the apparel retailer's stock valued at $451,000 after purchasing an additional 89 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Ross Stores by 2.4% in the 4th quarter. Allworth Financial LP now owns 3,895 shares of the apparel retailer's stock valued at $583,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company's stock.

Ross Stores Trading Up 1.1%

Shares of ROST stock opened at $143.80 on Friday. The company's 50-day moving average price is $141.02 and its 200-day moving average price is $142.98. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The stock has a market cap of $47.28 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 2.13 and a beta of 1.14. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $163.60.

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

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.62 annualized dividend and a yield of 1.13%. Ross Stores's dividend payout ratio (DPR) is currently 25.59%.

Analyst Upgrades and Downgrades

ROST has been the subject of a number of recent research reports. Evercore ISI reduced their price target on shares of Ross Stores from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Telsey Advisory Group reissued a "market perform" rating and set a $150.00 price target on shares of Ross Stores in a research report on Friday, May 23rd. Robert W. Baird reduced their price target on shares of Ross Stores from $175.00 to $160.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. BMO Capital Markets reduced 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 report on Wednesday, March 5th. Finally, Morgan Stanley reduced their price target on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating for the company in a research report on Friday, May 23rd. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ross Stores currently has a consensus rating of "Moderate Buy" and an average target price of $158.67.

Insider Activity at Ross Stores

In other Ross Stores news, CMO Karen Fleming sold 5,339 shares of the business's 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Karen Sykes sold 5,036 shares of the business'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 owns 110,365 shares in the company, valued at $14,400,425.20. This trade represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,398 shares of company stock worth $4,439,950. Company insiders own 2.20% of the company's stock.

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.

Want to see what other hedge funds are holding ROST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ross Stores, Inc. (NASDAQ:ROST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.