Bryn Mawr Capital Management LLC Sells 1,382 Shares of Ross Stores, Inc. (NASDAQ:ROST)

Bryn Mawr Capital Management LLC lessened its stake in Ross Stores, Inc. (NASDAQ:ROST) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,297 shares of the apparel retailer’s stock after selling 1,382 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Ross Stores were worth $3,224,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV lifted its holdings in Ross Stores by 9.0% during the fourth 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 during the period. Greenleaf Trust grew its position in Ross Stores by 1.6% during the fourth quarter. Greenleaf Trust now owns 5,133 shares of the apparel retailer’s stock worth $710,000 after buying an additional 80 shares in the last quarter. Geneos Wealth Management Inc. grew its position in 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 buying an additional 83 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in Ross Stores by 1.6% during the third quarter. Atria Wealth Solutions Inc. now owns 5,309 shares of the apparel retailer’s stock worth $600,000 after buying an additional 85 shares in the last quarter. Finally, Steph & Co. lifted its stake in Ross Stores by 4.5% during the third quarter. Steph & Co. now owns 2,048 shares of the apparel retailer’s stock worth $231,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 86.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ROST shares. Loop Capital upped their price target on Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Robert W. Baird upped their price target on Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Citigroup upped their price target on Ross Stores from $147.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Evercore ISI upped their target price on Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Morgan Stanley upped their target price on Ross Stores from $155.00 to $161.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.21.

Insider Activity

In related news, CMO Brian R. Morrow sold 10,734 shares of Ross Stores stock in a transaction dated 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 completion of the transaction, the chief marketing officer now owns 62,711 shares in the company, valued at $9,155,806. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Michael J. Hartshorn sold 21,056 shares of Ross Stores stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.14, for a total transaction of $3,056,067.84. Following the completion of the sale, the chief operating officer now owns 114,488 shares of the company’s stock, valued at $16,616,788.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Brian R. Morrow sold 10,734 shares of Ross Stores stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total transaction 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 approximately $9,155,806. The disclosure for this sale can be found here. Insiders sold a total of 71,097 shares of company stock worth $10,396,178 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Ross Stores Stock Performance

Ross Stores stock traded up $1.46 during trading on Friday, reaching $133.61. The company had a trading volume of 1,958,373 shares, compared to its average volume of 1,993,171. Ross Stores, Inc. has a 52 week low of $99.00 and a 52 week 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 firm has a market capitalization of $44.99 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04. The firm’s 50-day simple moving average is $142.78 and its 200 day simple moving average is $135.26.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.19. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.81 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. Ross Stores’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 EPS. Sell-side analysts forecast that Ross Stores, Inc. will post 5.89 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.3675 per share. This is a positive change from Ross Stores’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 14th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.10%. Ross Stores’s dividend payout ratio (DPR) is presently 26.44%.

Ross Stores announced that its board has authorized a stock buyback plan on Tuesday, March 5th that authorizes the company to buyback $2.10 billion in shares. This buyback authorization authorizes the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign 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.