Fenimore Asset Management Inc Trims Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Fenimore Asset Management Inc decreased its holdings in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,604,541 shares of the apparel retailer's stock after selling 6,829 shares during the period. Ross Stores comprises approximately 4.3% of Fenimore Asset Management Inc's investment portfolio, making the stock its 2nd biggest holding. Fenimore Asset Management Inc owned approximately 0.49% of Ross Stores worth $205,044,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Ross Stores from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. dropped their target price on Ross Stores from $161.00 to $141.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Telsey Advisory Group reaffirmed a "market perform" rating and set a $150.00 target price on shares of Ross Stores in a research report on Friday, May 23rd. Morgan Stanley decreased their price target on Ross Stores from $128.00 to $126.00 and set an "equal weight" rating for the company in a report on Friday, May 23rd. Finally, Robert W. Baird dropped their price objective on Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $158.67.

Ross Stores Stock Performance

ROST traded down $2.08 on Tuesday, hitting $140.08. The company's stock had a trading volume of 2,159,613 shares, compared to its average volume of 2,703,808. The company's 50 day simple moving average is $141.22 and its 200-day simple moving average is $142.95. The company has a quick ratio of 0.98, a current ratio of 1.57 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. The firm has a market cap of $46.06 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 2.13 and a beta of 1.14.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, beating 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 company had revenue of $4.98 billion during the quarter, compared to analysts' expectations of $4.94 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. Analysts forecast that Ross Stores, Inc. will post 6.17 EPS for the current year.

Ross Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Tuesday, June 10th. Ross Stores's payout ratio is 25.59%.

Insider Activity

In related news, COO Michael J. Hartshorn sold 7,492 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $127.69, for a total transaction of $956,653.48. Following the completion of the transaction, the chief operating officer now directly owns 139,091 shares in the company, valued at $17,760,529.79. The trade was a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Karen Sykes sold 5,036 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $130.48, for a total value of $657,097.28. Following the completion of the sale, the chief marketing officer now directly owns 110,365 shares in the company, valued at approximately $14,400,425.20. The trade was a 4.36% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,398 shares of company stock worth $4,439,950. 2.20% of the stock is owned by company insiders.

Ross Stores Profile

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.