Kayne Anderson Rudnick Investment Management LLC Purchases 17,813 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Kayne Anderson Rudnick Investment Management LLC raised its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,892,289 shares of the apparel retailer's stock after purchasing an additional 17,813 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 0.57% of Ross Stores worth $286,247,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ROST. Forum Financial Management LP grew its holdings in shares of Ross Stores by 5.3% during the fourth quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer's stock worth $223,000 after buying an additional 74 shares in the last quarter. Key Financial Inc raised its position 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 last quarter. Frank Rimerman Advisors LLC raised its position in 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 buying an additional 79 shares during the last quarter. Kingsview Wealth Management LLC grew 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 worth $451,000 after acquiring an additional 89 shares in the last quarter. Finally, West Wealth Group LLC grew its stake in shares of Ross Stores by 3.5% during the 4th quarter. West Wealth Group LLC now owns 2,715 shares of the apparel retailer's stock worth $411,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company's stock.

Ross Stores Stock Down 1.1%

Shares of NASDAQ:ROST traded down $1.59 during midday trading on Wednesday, hitting $139.70. The stock had a trading volume of 3,594,457 shares, compared to its average volume of 2,704,551. The business's 50-day simple moving average is $138.75 and its 200-day simple moving average is $142.93. 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 $45.94 billion, a P/E ratio of 22.00, a PEG ratio of 2.13 and a beta of 1.17. 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 (NASDAQ:ROST - Get Free Report) last posted its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.03. The company had revenue of $4.98 billion during the quarter, compared to analysts' expectations of $4.94 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. Ross Stores's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 EPS. On average, sell-side analysts forecast that Ross Stores, Inc. will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

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

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 7,492 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $127.69, for a total value of $956,653.48. Following the transaction, the chief operating officer now directly owns 139,091 shares in the company, valued at approximately $17,760,529.79. This represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Michael Balmuth sold 11,261 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were 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 owns 59,790 shares in the company, valued at $7,868,364. This trade represents a 15.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,398 shares of company stock valued at $4,439,950. Insiders own 2.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ROST shares. Citigroup raised shares of Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price target for the company in a research note on Thursday, April 3rd. JPMorgan Chase & Co. decreased their price target on shares of Ross Stores from $161.00 to $141.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Loop Capital lowered their target price on Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Barclays lowered their target price on Ross Stores from $157.00 to $156.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Finally, UBS Group decreased their price target on Ross Stores from $168.00 to $163.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ross Stores has an average rating of "Moderate Buy" and a consensus price target of $158.67.

Ross Stores Company 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.