Envestnet Portfolio Solutions Inc. Sells 3,197 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 29.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,500 shares of the apparel retailer's stock after selling 3,197 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Ross Stores were worth $958,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ROST. Norges Bank purchased a new position in Ross Stores in the 4th quarter valued at $649,318,000. Price T Rowe Associates Inc. MD grew its position in Ross Stores by 25.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer's stock valued at $2,952,170,000 after acquiring an additional 3,995,760 shares during the period. Wealthfront Advisers LLC boosted its position in shares of Ross Stores by 8,209.0% in the fourth quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer's stock worth $360,204,000 after buying an additional 2,352,543 shares during the period. Madison Investment Advisors LLC acquired a new stake in Ross Stores during the 4th quarter valued at $230,204,000. Finally, Royal Bank of Canada boosted its stake in shares of Ross Stores by 69.6% during the 4th quarter. Royal Bank of Canada now owns 3,336,312 shares of the apparel retailer's stock valued at $504,684,000 after buying an additional 1,368,571 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ROST shares. Loop Capital dropped 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 dropped their price target on Ross Stores from $157.00 to $156.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Citigroup raised shares of Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 target price on the stock in a research report on Thursday, April 3rd. JPMorgan Chase & Co. upped their target price on Ross Stores from $141.00 to $154.00 and gave the company an "overweight" rating in a report on Friday, June 13th. 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 note on Wednesday, March 5th. Five investment 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $159.53.

Ross Stores Trading Down 0.8%

ROST traded down $1.05 during trading on Wednesday, hitting $127.28. The company's stock had a trading volume of 2,016,988 shares, compared to its average volume of 2,775,292. Ross Stores, Inc. has a twelve month low of $122.36 and a twelve month high of $163.60. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $41.63 billion, a P/E ratio of 20.11, a PEG ratio of 2.69 and a beta of 1.14. The stock's fifty day moving average price is $140.41 and its 200-day moving average price is $141.21.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.03. Ross Stores had a return on equity of 38.77% and a net margin of 9.79%. The business had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.94 billion. During the same period in the prior year, the firm posted $1.46 EPS. Ross Stores's quarterly revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that Ross Stores, Inc. will post 6.17 EPS 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 $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Tuesday, June 10th. Ross Stores's dividend payout ratio is currently 25.59%.

Insider Activity at Ross Stores

In related news, CMO Karen Fleming sold 5,270 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $127.70, for a total value of $672,979.00. Following the transaction, the chief marketing officer now owns 93,126 shares of the company's stock, valued at $11,892,190.20. This represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Karen Sykes sold 5,036 shares of the business's stock in a transaction that occurred on 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 owns 110,365 shares of the company's stock, valued at $14,400,425.20. The trade was a 4.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,567 shares of company stock worth $2,812,024. 2.20% of the stock is owned by corporate insiders.

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.