Ross Stores, Inc. (NASDAQ:ROST) Shares Purchased by First Financial Bank Trust Division (2024)

First Financial Bank Trust Division increased its position in Ross Stores, Inc. (NASDAQ:ROST - Free Report) by 62.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,320 shares of the apparel retailer's stock after acquiring an additional 13,568 shares during the period. First Financial Bank Trust Division's holdings in Ross Stores were worth $5,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in Ross Stores by 52.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer's stock worth $33,000 after acquiring an additional 83 shares during the last quarter. Rock Creek Group LP purchased a new position in shares of Ross Stores during the 3rd quarter valued at about $35,000. Raleigh Capital Management Inc. raised its stake in shares of Ross Stores by 41.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer's stock valued at $35,000 after buying an additional 74 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Ross Stores during the 4th quarter valued at about $51,000. Finally, Mendota Financial Group LLC purchased a new position in shares of Ross Stores during the 4th quarter valued at about $61,000. Hedge funds and other institutional investors own 86.86% of the company's stock.

Insider Activity

In other news, Director Patricia H. Mueller sold 941 shares of Ross Stores stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total transaction of $130,206.17. Following the sale, the director now owns 973 shares of the company's stock, valued at approximately $134,634.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Ross Stores news, CMO Brian R. Morrow sold 10,734 shares of the business's stock in a transaction that occurred on Wednesday, March 27th. The stock was 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 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 can be accessed through the SEC website. Also, Director Patricia H. Mueller sold 941 shares of the business's stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total value of $130,206.17. Following the completion of the sale, the director now directly owns 973 shares in the company, valued at approximately $134,634.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,717 shares of company stock valued at $7,141,031. 2.10% of the stock is currently owned by company insiders.

Ross Stores Price Performance

Shares of Ross Stores stock traded down $1.69 on Tuesday, hitting $148.69. 2,438,742 shares of the company were exchanged, compared to its average volume of 2,260,979. The stock has a market capitalization of $49.60 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 2.56 and a beta of 1.08. The company has a 50-day moving average price of $136.60 and a 200 day moving average price of $139.63. Ross Stores, Inc. has a 1-year low of $106.47 and a 1-year high of $151.12. 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 (NASDAQ:ROST - Get Free Report) last issued its 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 business 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 business's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 EPS. As a group, sell-side analysts predict that Ross Stores, Inc. will post 5.97 earnings per share for the current fiscal year.

Ross Stores announced that its board has authorized a share 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 reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Ross Stores Announces Dividend

The business also recently announced 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 0.99%. The ex-dividend date of this dividend is Tuesday, June 11th. Ross Stores's dividend payout ratio is currently 24.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Barclays lifted their price objective on Ross Stores from $163.00 to $165.00 and gave the company an "overweight" rating in a research note on Friday, May 24th. The Goldman Sachs Group lifted their price objective on Ross Stores from $143.00 to $163.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. Loop Capital raised their target price on Ross Stores from $150.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. Citigroup raised their target price on Ross Stores from $147.00 to $172.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. Finally, UBS Group raised their target price on Ross Stores from $145.00 to $147.00 and gave the company a "neutral" rating in a research report on Friday, May 24th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Ross Stores has an average rating of "Moderate Buy" and an average price target of $156.58.

Get Our Latest Report on ROST

Ross Stores Profile

(Free Report)

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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