Crystal Rock Capital Management Reduces Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Crystal Rock Capital Management cut its stake in Ross Stores, Inc. (NASDAQ:ROST) by 10.4% in the fourth quarter, HoldingsChannel reports. The firm owned 27,900 shares of the apparel retailer’s stock after selling 3,225 shares during the quarter. Ross Stores makes up about 2.5% of Crystal Rock Capital Management’s investment portfolio, making the stock its 18th biggest position. Crystal Rock Capital Management’s holdings in Ross Stores were worth $3,861,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Savant Capital LLC grew its holdings in Ross Stores by 113.5% during the 4th quarter. Savant Capital LLC now owns 6,279 shares of the apparel retailer’s stock worth $869,000 after acquiring an additional 3,338 shares in the last quarter. Alpha Cubed Investments LLC grew its stake in shares of Ross Stores by 6.5% during the fourth quarter. Alpha Cubed Investments LLC now owns 5,742 shares of the apparel retailer’s stock worth $795,000 after purchasing an additional 350 shares in the last quarter. Mission Wealth Management LP increased its holdings in Ross Stores by 2.1% in the fourth quarter. Mission Wealth Management LP now owns 4,236 shares of the apparel retailer’s stock valued at $586,000 after buying an additional 88 shares during the last quarter. Cozad Asset Management Inc. acquired a new stake in Ross Stores in the fourth quarter valued at $221,000. Finally, Crew Capital Management Ltd. purchased a new stake in Ross Stores during the 4th quarter worth about $339,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Price Performance

Shares of ROST stock traded down $1.73 during midday trading on Wednesday, reaching $127.82. 3,428,447 shares of the company traded hands, compared to its average volume of 2,042,949. The firm’s 50 day simple moving average is $142.22 and its two-hundred day simple moving average is $135.82. The firm has a market cap of $43.04 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.87 and a beta of 1.04. 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.

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

Ross Stores announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 5th that authorizes the company to buyback $2.10 billion in shares. This buyback authorization authorizes the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Ross Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.3675 dividend. This is an increase from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 14th. This represents a $1.47 annualized dividend and a dividend yield of 1.15%. Ross Stores’s dividend payout ratio is presently 26.44%.

Insider Buying and Selling

In other news, CMO Brian R. Morrow sold 10,734 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the completion of the transaction, the chief marketing officer now owns 62,711 shares of the company’s stock, valued at $9,155,806. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, 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 value of $616,405.52. Following the completion of the sale, the director now directly owns 3,166 shares of the company’s stock, valued at approximately $468,219.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Brian R. Morrow sold 10,734 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the completion of the sale, the chief marketing officer now owns 62,711 shares in the company, valued at $9,155,806. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,097 shares of company stock valued at $10,396,178. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ROST shares. TD Cowen upped their target price on shares of Ross Stores from $144.00 to $169.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Loop Capital lifted their target price on Ross Stores from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Barclays upped their target price on Ross Stores from $160.00 to $163.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Citigroup lifted their price target on Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Telsey Advisory Group raised their target price on shares of Ross Stores from $135.00 to $160.00 and gave the stock a “market perform” rating in a research 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.21.

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.