Legacy Wealth Asset Management LLC Sells 160 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Legacy Wealth Asset Management LLC cut its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 1.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 11,753 shares of the apparel retailer’s stock after selling 160 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Ross Stores were worth $1,725,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Riverview Trust Co purchased a new position in shares of Ross Stores during the first quarter worth about $26,000. Rise Advisors LLC purchased a new position in shares of Ross Stores during the first quarter worth about $27,000. Geneos Wealth Management Inc. grew its holdings in shares of Ross Stores by 52.9% during 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. Raleigh Capital Management Inc. grew its holdings in shares of Ross Stores by 41.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Ross Stores during the fourth quarter worth about $51,000. 86.86% of the stock is currently owned by institutional investors.

Ross Stores Trading Down 0.3 %

Shares of ROST traded down $0.40 during mid-day trading on Thursday, hitting $144.00. 1,170,620 shares of the company’s stock traded hands, compared to its average volume of 2,554,030. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 0.31. Ross Stores, Inc. has a 1 year low of $107.30 and a 1 year high of $151.12. The firm has a market capitalization of $48.04 billion, a P/E ratio of 24.28, a PEG ratio of 2.53 and a beta of 1.08. The business’s 50-day moving average price is $139.36 and its 200-day moving average price is $140.61.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.11. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 earnings per share. As a group, sell-side analysts forecast that Ross Stores, Inc. will post 5.97 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were paid a $0.3675 dividend. The ex-dividend date was Tuesday, June 11th. This represents a $1.47 annualized dividend and a yield of 1.02%. Ross Stores’s payout ratio is 24.79%.

Insider Buying and Selling

In related news, Director Patricia H. Mueller sold 941 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total value of $130,206.17. Following the sale, the director now directly owns 973 shares of the company’s stock, valued at $134,634.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on ROST shares. Barclays boosted their price objective on Ross Stores from $163.00 to $165.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Morgan Stanley lifted their price target on shares of Ross Stores from $159.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Guggenheim upped their price objective on shares of Ross Stores from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Telsey Advisory Group reiterated a “market perform” rating and issued a $160.00 target price on shares of Ross Stores in a research report on Friday, June 14th. Finally, StockNews.com downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Monday, June 24th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Ross Stores presently has an average rating of “Moderate Buy” and an average price target of $159.06.

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.