WBI Investments LLC Cuts Holdings in Ross Stores, Inc. (NASDAQ:ROST)

WBI Investments LLC lessened its stake in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 50.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,334 shares of the apparel retailer's stock after selling 9,672 shares during the quarter. WBI Investments LLC's holdings in Ross Stores were worth $1,292,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ROST. Geneos Wealth Management Inc. increased its position 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 purchasing an additional 83 shares during the last quarter. Clearstead Advisors LLC raised its stake in Ross Stores by 458.0% in the third quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer's stock valued at $32,000 after buying an additional 229 shares in the last quarter. Rock Creek Group LP purchased a new stake in Ross Stores during the 3rd quarter worth about $35,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Ross Stores during the 4th quarter worth about $51,000. Finally, Mendota Financial Group LLC purchased a new position in shares of Ross Stores in the 4th quarter valued at about $61,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Price Performance

Shares of NASDAQ ROST traded down $0.79 during trading on Wednesday, reaching $131.51. The company had a trading volume of 3,559,115 shares, compared to its average volume of 2,122,141. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. Ross Stores, Inc. has a twelve month low of $100.66 and a twelve month high of $151.12. The stock has a 50-day moving average price of $137.50 and a two-hundred day moving average price of $137.50. The stock has a market capitalization of $44.28 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.87 and a beta of 1.06.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.19. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.81 billion. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The firm's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.31 EPS. As a group, sell-side analysts predict that Ross Stores, Inc. will post 5.88 earnings per share for the current year.

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

Ross Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be issued a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a dividend yield of 1.12%. Ross Stores's dividend payout ratio (DPR) is 26.44%.

Insider Activity

In related news, Director Patricia H. Mueller sold 2,265 shares of the business'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 value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Larree M. Renda sold 4,168 shares of the business's stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $147.89, for a total transaction of $616,405.52. Following the completion of the sale, the director now owns 3,166 shares in the company, valued at approximately $468,219.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 1,914 shares in the company, valued at approximately $278,257.32. The disclosure for this sale can be found here. Insiders sold a total of 71,097 shares of company stock valued at $10,396,178 over the last quarter. Company insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. TD Cowen boosted their target price on Ross Stores from $144.00 to $169.00 and gave the company an "outperform" rating in a report on Wednesday, March 6th. Loop Capital boosted their price target on Ross Stores from $150.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $160.00 price objective on shares of Ross Stores in a research report on Friday, May 17th. BMO Capital Markets boosted their target price on Ross Stores from $138.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, March 6th. Finally, Evercore ISI upped their price target on Ross Stores from $155.00 to $165.00 and gave the stock an "outperform" rating in a research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $155.11.

About Ross Stores

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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