NavPoint Financial Inc. Purchases Shares of 7,676 Ross Stores, Inc. (NASDAQ:ROST)

NavPoint Financial Inc. purchased a new position in shares of Ross Stores, Inc. (NASDAQ:ROST - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,676 shares of the apparel retailer's stock, valued at approximately $1,062,000. Ross Stores makes up about 1.0% of NavPoint Financial Inc.'s investment portfolio, making the stock its 22nd largest position.

A number of other institutional investors have also recently made changes to their positions in the business. National Bank of Canada FI boosted its stake in Ross Stores by 15.6% in the 4th quarter. National Bank of Canada FI now owns 529,221 shares of the apparel retailer's stock worth $72,856,000 after purchasing an additional 71,291 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Ross Stores by 93.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 14,593 shares of the apparel retailer's stock worth $2,019,000 after buying an additional 7,033 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Ross Stores by 1,437.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,026,367 shares of the apparel retailer's stock valued at $142,039,000 after buying an additional 959,594 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of Ross Stores by 6.0% during the fourth quarter. Natixis Advisors L.P. now owns 389,657 shares of the apparel retailer's stock valued at $53,924,000 after buying an additional 21,951 shares during the last quarter. Finally, Benjamin Edwards Inc. acquired a new position in shares of Ross Stores in the 4th quarter valued at $309,000. Institutional investors and hedge funds own 86.86% of the company's stock.

Ross Stores Price Performance

NASDAQ ROST traded up $3.16 on Friday, hitting $130.84. The company had a trading volume of 3,732,548 shares, compared to its average volume of 2,338,168. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.77 and a quick ratio of 1.24. The company has a market capitalization of $44.05 billion, a PE ratio of 23.53, a PEG ratio of 1.82 and a beta of 1.06. Ross Stores, Inc. has a 12-month low of $99.00 and a 12-month high of $151.12. The company's fifty day moving average price is $141.16 and its 200-day moving average price is $135.81.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. The company's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, analysts predict that Ross Stores, Inc. will post 5.89 earnings per share for the current year.

Ross Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a dividend yield of 1.12%. This is a boost from Ross Stores's previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 14th. Ross Stores's payout ratio is presently 26.44%.

Ross Stores declared that its board has authorized a stock repurchase plan on Tuesday, March 5th that permits the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization permits the apparel retailer to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have weighed in on ROST shares. Morgan Stanley boosted their price target on Ross Stores from $155.00 to $161.00 and gave the company an "overweight" rating in a research note on Wednesday, March 6th. TD Cowen increased their price target on shares of Ross Stores from $144.00 to $169.00 and gave the stock an "outperform" rating in a report on Wednesday, March 6th. BMO Capital Markets lifted their price objective on shares of Ross Stores from $138.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, March 6th. Loop Capital upped their price objective on shares of Ross Stores from $150.00 to $170.00 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 report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $155.21.

Insider Activity at Ross Stores

In other news, insider Michael K. Kobayashi sold 13,860 shares of the company's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $147.46, for a total transaction of $2,043,795.60. Following the completion of the sale, the insider now owns 61,657 shares of the company's stock, valued at $9,091,941.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Ross Stores news, insider Michael K. Kobayashi sold 13,860 shares of the firm's stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.46, for a total value of $2,043,795.60. Following the transaction, the insider now directly owns 61,657 shares of the company's stock, valued at approximately $9,091,941.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael J. Hartshorn sold 21,056 shares of the company's stock in a transaction that occurred on Monday, March 18th. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 71,097 shares of company stock valued at $10,396,178. 2.10% of the stock is owned by 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.