Atria Wealth Solutions Inc. Lowers Stock Holdings in Ross Stores, Inc. (NASDAQ:ROST)

Atria Wealth Solutions Inc. reduced its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,134 shares of the apparel retailer’s stock after selling 175 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Ross Stores were worth $711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ROST. Geneos Wealth Management Inc. grew its stake in shares of Ross Stores by 52.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 83 shares during the period. Clearstead Advisors LLC grew its position in Ross Stores by 458.0% during the third quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock valued at $32,000 after acquiring an additional 229 shares during the period. Rock Creek Group LP acquired a new stake in Ross Stores during the third quarter worth about $35,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Ross Stores in the 4th quarter worth about $51,000. Finally, Mendota Financial Group LLC acquired a new stake in Ross Stores in the 4th quarter valued at $61,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ROST. BMO Capital Markets increased their target price on Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Jefferies Financial Group increased their price target on shares of Ross Stores from $135.00 to $147.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Barclays upped their price objective on Ross Stores from $160.00 to $163.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Citigroup boosted their price target on Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Loop Capital raised their price objective on Ross Stores from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $155.21.

Insiders Place Their Bets

In other news, Director Larree M. Renda sold 4,168 shares of Ross Stores stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total transaction of $616,405.52. Following the transaction, the director now directly owns 3,166 shares in the company, valued at approximately $468,219.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Larree M. Renda sold 4,168 shares of the firm’s 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 transaction, the director now owns 3,166 shares of the company’s stock, valued at $468,219.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael K. Kobayashi sold 13,860 shares of Ross Stores stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $147.46, for a total value of $2,043,795.60. Following the transaction, the insider now directly owns 61,657 shares in the company, valued at $9,091,941.22. The disclosure for this sale can be found here. Insiders sold 71,097 shares of company stock worth $10,396,178 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Ross Stores Trading Up 2.5 %

NASDAQ:ROST opened at $130.84 on Friday. The stock has a market cap of $44.05 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.86 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77. Ross Stores, Inc. has a 1 year low of $99.00 and a 1 year high of $151.12. The business has a fifty day moving average of $141.16 and a 200-day moving average of $135.81.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the firm posted $1.31 EPS. Ross Stores’s revenue was up 15.5% compared to the same quarter last year. Equities analysts predict that Ross Stores, Inc. will post 5.89 earnings per share 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 issued a dividend of $0.3675 per share. This is a boost 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 yield of 1.12%. Ross Stores’s payout ratio is presently 26.44%.

Ross Stores declared that its board has initiated a stock buyback program on Tuesday, March 5th that allows the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization allows the apparel retailer to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.