NTV Asset Management LLC Trims Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

NTV Asset Management LLC reduced its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 21.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,450 shares of the apparel retailer’s stock after selling 666 shares during the quarter. NTV Asset Management LLC’s holdings in Ross Stores were worth $339,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV grew its stake in Ross Stores by 9.0% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 919 shares of the apparel retailer’s stock worth $127,000 after acquiring an additional 76 shares in the last quarter. Greenleaf Trust boosted 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. grew its stake in Ross Stores by 52.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 83 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in Ross Stores by 1.6% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 5,309 shares of the apparel retailer’s stock worth $600,000 after purchasing an additional 85 shares during the period. Finally, First Horizon Advisors Inc. raised its position in Ross Stores by 9.8% during the 4th quarter. First Horizon Advisors Inc. now owns 961 shares of the apparel retailer’s stock valued at $133,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Stock Up 2.5 %

Shares of ROST stock traded up $3.16 during trading hours on Friday, reaching $130.84. 3,732,548 shares of the company’s stock were exchanged, compared to its average volume of 2,338,168. Ross Stores, Inc. has a 1 year low of $99.00 and a 1 year high of $151.12. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. The stock has a market cap of $44.05 billion, a PE ratio of 23.53, a PEG ratio of 1.86 and a beta of 1.06. The stock’s fifty day moving average price is $141.16 and its two-hundred day moving average price is $136.06.

Ross Stores (NASDAQ:ROST) last released its earnings results 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 company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the business earned $1.31 EPS. Ross Stores’s revenue for the quarter was up 15.5% on a year-over-year basis. Research 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. Investors of record on Friday, March 15th were given a $0.3675 dividend. This represents a $1.47 annualized dividend and a dividend yield of 1.12%. This is an increase from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 14th. Ross Stores’s dividend payout ratio is presently 26.44%.

Ross Stores announced that its board has approved a stock repurchase program on Tuesday, March 5th that authorizes the company to buyback $2.10 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to purchase 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.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ROST. JPMorgan Chase & Co. increased their price target on Ross Stores from $150.00 to $163.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Jefferies Financial Group raised their target price 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. Guggenheim upped their price target on shares of Ross Stores from $140.00 to $165.00 and gave the stock a “buy” rating in a research 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 report on Wednesday, March 6th. Finally, The Goldman Sachs Group upped their target price on Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.21.

Insider Activity at Ross Stores

In related news, Director Larree M. Renda sold 4,168 shares of Ross Stores 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 of the company’s stock, valued at $468,219.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ross Stores news, CMO Brian R. Morrow sold 10,734 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total value of $1,567,164.00. Following the sale, the chief marketing officer now directly owns 62,711 shares of the company’s stock, valued at $9,155,806. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Larree M. Renda sold 4,168 shares of Ross Stores stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $147.89, for a total value of $616,405.52. Following the transaction, the director now owns 3,166 shares of the company’s stock, valued at approximately $468,219.74. The disclosure for this sale can be found here. Insiders have sold a total of 71,097 shares of company stock valued at $10,396,178 in the last ninety days. Company insiders own 2.10% of the company’s stock.

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.