Headlands Technologies LLC Acquires Shares of 9,615 Ross Stores, Inc. (NASDAQ:ROST)

Headlands Technologies LLC bought a new stake in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,615 shares of the apparel retailer's stock, valued at approximately $1,331,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV increased its position in Ross Stores by 9.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 919 shares of the apparel retailer's stock valued at $127,000 after buying an additional 76 shares in the last quarter. Greenleaf Trust increased its holdings in shares of Ross Stores by 1.6% in the fourth quarter. Greenleaf Trust now owns 5,133 shares of the apparel retailer's stock valued at $710,000 after purchasing an additional 80 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Ross Stores by 52.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer's stock valued at $33,000 after purchasing an additional 83 shares during the period. Atria Wealth Solutions Inc. increased its holdings in shares of Ross Stores by 1.6% in the third quarter. Atria Wealth Solutions Inc. now owns 5,309 shares of the apparel retailer's stock valued at $600,000 after purchasing an additional 85 shares during the period. Finally, Steph & Co. increased its holdings in shares of Ross Stores by 4.5% in the third quarter. Steph & Co. now owns 2,048 shares of the apparel retailer's stock valued at $231,000 after purchasing an additional 88 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Price Performance

Shares of Ross Stores stock traded up $1.46 during mid-day trading on Friday, reaching $133.61. 1,958,373 shares of the stock traded hands, compared to its average volume of 1,939,351. The business has a 50-day moving average of $142.78 and a 200 day moving average of $135.57. Ross Stores, Inc. has a fifty-two week low of $99.00 and a fifty-two week high of $151.12. The stock has a market capitalization of $44.99 billion, a PE ratio of 24.03, a PEG ratio of 1.90 and a beta of 1.04. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.45.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.19. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The business had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.81 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. The business's revenue was up 15.5% compared to the same quarter last year. On average, analysts predict that Ross Stores, Inc. will post 5.89 EPS for the current year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.3675 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.10%. This is a boost from Ross Stores's previous quarterly dividend of $0.34. Ross Stores's dividend payout ratio is presently 26.44%.

Ross Stores announced that its board has initiated a stock repurchase program on Tuesday, March 5th that allows the company to buyback $2.10 billion in shares. This buyback authorization allows the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ROST shares. Evercore ISI increased their price objective on Ross Stores from $155.00 to $165.00 and gave the company an "outperform" rating in a report on Friday, February 23rd. Telsey Advisory Group increased their price objective on Ross Stores from $135.00 to $160.00 and gave the company a "market perform" rating in a report on Wednesday, March 6th. Morgan Stanley upped their target price on Ross Stores from $155.00 to $161.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 6th. Jefferies Financial Group upped their target price on Ross Stores from $135.00 to $147.00 and gave the stock a "hold" rating in a research note on Wednesday, March 6th. Finally, Robert W. Baird upped their target price on Ross Stores from $145.00 to $162.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Ross Stores has a consensus rating of "Moderate Buy" and an average price target of $155.21.

Insider Buying and Selling at Ross Stores

In related news, COO Michael J. Hartshorn sold 21,056 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the completion of the sale, the chief operating officer now owns 114,488 shares of the company's stock, valued at $16,616,788.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Larree M. Renda sold 4,168 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value of $616,405.52. Following the completion of the sale, the director now owns 3,166 shares of the company's stock, valued at $468,219.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Michael J. Hartshorn sold 21,056 shares of the firm's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the sale, the chief operating officer now directly owns 114,488 shares of the company's stock, valued at approximately $16,616,788.32. The disclosure for this sale can be found here. Insiders sold 71,097 shares of company stock valued at $10,396,178 over the last quarter. 2.00% of the stock is currently owned by 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.