Hendershot Investments Inc. Raises Stake in Ross Stores, Inc. (NASDAQ:ROST)

Hendershot Investments Inc. raised its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,657 shares of the apparel retailer's stock after purchasing an additional 7,759 shares during the period. Ross Stores accounts for 1.5% of Hendershot Investments Inc.'s investment portfolio, making the stock its 27th largest holding. Hendershot Investments Inc.'s holdings in Ross Stores were worth $9,501,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its holdings in shares of Ross Stores by 52.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer's stock valued at $33,000 after acquiring an additional 83 shares during the last quarter. Hemington Wealth Management purchased a new stake in shares of Ross Stores during the 4th quarter worth approximately $239,000. Sequoia Financial Advisors LLC acquired a new position in shares of Ross Stores in the 4th quarter valued at $2,291,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Ross Stores by 827.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 184,395 shares of the apparel retailer's stock valued at $25,518,000 after buying an additional 164,504 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its position in shares of Ross Stores by 3.3% in the 4th quarter. Bleakley Financial Group LLC now owns 5,498 shares of the apparel retailer's stock valued at $761,000 after buying an additional 176 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Price Performance

Shares of NASDAQ ROST traded down $1.63 during trading on Wednesday, hitting $138.29. 1,902,307 shares of the company were exchanged, compared to its average volume of 1,955,339. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.77 and a quick ratio of 1.24. Ross Stores, Inc. has a 1 year low of $99.00 and a 1 year high of $151.12. The company has a market cap of $46.56 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 2.00 and a beta of 1.04. The firm's fifty day moving average price is $145.29 and its 200 day moving average price is $133.53.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.19. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the firm earned $1.31 earnings per share. The firm's revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts expect that Ross Stores, Inc. will post 5.89 earnings per share for the current fiscal year.

Ross Stores declared that its board has authorized a stock buyback program on Tuesday, March 5th that allows the company to buyback $2.10 billion in outstanding shares. This buyback authorization allows the apparel retailer to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Ross Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.3675 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Ross Stores's previous quarterly dividend of $0.34. This represents a $1.47 annualized dividend and a dividend yield of 1.06%. Ross Stores's payout ratio is currently 26.44%.

Insider Activity at Ross Stores

In other news, Director Patricia H. Mueller sold 2,265 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.38, for a total transaction of $329,285.70. Following the completion of the transaction, the director now directly owns 1,914 shares of the company's stock, valued at approximately $278,257.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Patricia H. Mueller sold 2,265 shares of Ross Stores stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $145.38, for a total transaction of $329,285.70. Following the completion of the sale, the director now directly owns 1,914 shares in the company, valued at $278,257.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Larree M. Renda sold 4,168 shares of the company's stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.89, for a total transaction of $616,405.52. Following the transaction, the director now directly owns 3,166 shares in the company, valued at approximately $468,219.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,097 shares of company stock valued at $10,396,178. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ROST shares. Jefferies Financial Group boosted their price target on shares of Ross Stores from $135.00 to $147.00 and gave the company a "hold" rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. upped their target price on Ross Stores from $150.00 to $163.00 and gave the company an "overweight" rating in a research report on Wednesday, March 6th. UBS Group lifted their price target on Ross Stores from $142.00 to $145.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 6th. Citigroup increased their price objective on Ross Stores from $147.00 to $172.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Finally, Robert W. Baird raised their target price on shares of Ross Stores from $145.00 to $162.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $155.21.

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.

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