Ross Stores, Inc. (NASDAQ:ROST) Stock Position Decreased by Fenimore Asset Management Inc

Fenimore Asset Management Inc lowered its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,604,541 shares of the apparel retailer's stock after selling 6,829 shares during the period. Ross Stores comprises 4.3% of Fenimore Asset Management Inc's holdings, making the stock its 2nd largest position. Fenimore Asset Management Inc owned approximately 0.49% of Ross Stores worth $205,044,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ROST. Larson Financial Group LLC increased its stake in shares of Ross Stores by 152.9% during the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock worth $27,000 after purchasing an additional 107 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Ross Stores during the 4th quarter worth approximately $31,000. Putney Financial Group LLC purchased a new stake in Ross Stores in the 4th quarter worth approximately $44,000. Cary Street Partners Financial LLC purchased a new stake in Ross Stores in the 4th quarter worth approximately $48,000. Finally, Kestra Investment Management LLC bought a new position in Ross Stores in the 4th quarter valued at $51,000. Hedge funds and other institutional investors own 86.86% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ROST. Morgan Stanley decreased their price target on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating on the stock in a report on Friday, May 23rd. Loop Capital decreased their target price on Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Citigroup raised Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price objective on the stock in a research note on Thursday, April 3rd. JPMorgan Chase & Co. dropped their target price on Ross Stores from $161.00 to $141.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Finally, Wall Street Zen cut Ross Stores from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $158.67.

Ross Stores Trading Down 2.1%

Shares of Ross Stores stock traded down $2.92 during midday trading on Thursday, reaching $133.47. 6,157,595 shares of the company's stock traded hands, compared to its average volume of 2,727,607. The stock has a 50 day moving average of $141.51 and a 200-day moving average of $142.89. Ross Stores, Inc. has a 12 month low of $122.36 and a 12 month high of $163.60. The company has a market cap of $43.89 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 2.13 and a beta of 1.14. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57.

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 analysts' consensus estimates of $1.44 by $0.03. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The business had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.94 billion. During the same period in the previous year, the firm earned $1.46 EPS. The company's quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts expect that Ross Stores, Inc. will post 6.17 EPS for the current fiscal year.

Ross Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 1.21%. Ross Stores's dividend payout ratio (DPR) is presently 25.59%.

Insider Buying and Selling at Ross Stores

In other Ross Stores 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 in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Also, CMO Karen Fleming sold 5,339 shares of the business's stock in a transaction on 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 approximately $11,826,540.99. This trade represents a 5.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,398 shares of company stock valued at $4,439,950. 2.20% of the stock is currently owned by corporate 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.