Ross Stores, Inc. (NASDAQ:ROST) Stake Lifted by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. increased its stake in shares of Ross Stores, Inc. (NASDAQ:ROST) by 11.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,386 shares of the apparel retailer’s stock after buying an additional 982 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Ross Stores were worth $1,377,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ROST. Riverview Trust Co bought a new position in shares of Ross Stores in the first quarter worth $26,000. Rise Advisors LLC bought a new position in shares of Ross Stores in the first quarter worth $27,000. Geneos Wealth Management Inc. grew its stake in shares of 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. Raleigh Capital Management Inc. grew its stake in shares of Ross Stores by 41.8% in 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. bought a new position in shares of Ross Stores in the fourth quarter worth $51,000. 86.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Patricia H. Mueller sold 941 shares of the stock in a transaction dated Tuesday, May 28th. The stock was 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 of the company’s stock, valued at approximately $134,634.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.10% of the company’s stock.

Ross Stores Stock Down 0.3 %

Ross Stores stock traded down $0.40 during mid-day trading on Thursday, hitting $144.00. The company’s stock had a trading volume of 1,170,620 shares, compared to its average volume of 2,554,030. The firm’s 50 day moving average is $139.36 and its 200 day moving average is $140.61. The company has a market cap of $48.04 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 2.53 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.03. Ross Stores, Inc. has a 52-week low of $107.30 and a 52-week high of $151.12.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.11. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 EPS. On average, analysts anticipate that Ross Stores, Inc. will post 5.97 earnings per share for the current year.

Ross Stores Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on ROST shares. Wells Fargo & Company increased their price target on Ross Stores from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. StockNews.com cut Ross Stores from a “buy” rating to a “hold” rating in a research note on Monday, June 24th. Guggenheim raised their target price on Ross Stores from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, May 24th. JPMorgan Chase & Co. raised their target price on Ross Stores from $150.00 to $163.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, Robert W. Baird raised their target price on Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $159.06.

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.