Rational Advisors LLC Acquires 4,953 Shares of Ross Stores, Inc. (ROST)

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Rational Advisors LLC grew its holdings in Ross Stores, Inc. (NASDAQ:ROST) by 295.2% in the 1st quarter, HoldingsChannel reports. The fund owned 6,631 shares of the apparel retailer’s stock after purchasing an additional 4,953 shares during the quarter. Rational Advisors LLC’s holdings in Ross Stores were worth $617,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ROST. Bollard Group LLC bought a new stake in shares of Ross Stores during the 4th quarter worth $25,000. CI Investments Inc. bought a new stake in shares of Ross Stores during the 4th quarter worth $26,000. First Manhattan Co. bought a new stake in shares of Ross Stores during the 1st quarter worth $27,000. Athena Capital Advisors LLC bought a new stake in shares of Ross Stores during the 4th quarter worth $29,000. Finally, Berman Capital Advisors LLC bought a new stake in shares of Ross Stores during the 4th quarter worth $32,000. 88.31% of the stock is owned by institutional investors.

In other news, EVP Michael J. Hartshorn sold 9,924 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $91.48, for a total value of $907,847.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Michael Balmuth sold 25,689 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $90.77, for a total transaction of $2,331,790.53. Following the completion of the transaction, the chairman now owns 51,998 shares of the company’s stock, valued at approximately $4,719,858.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,054 shares of company stock valued at $12,504,328. Corporate insiders own 2.30% of the company’s stock.

Several research firms recently issued reports on ROST. BidaskClub raised shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research downgraded shares of Ross Stores from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. Guggenheim reaffirmed a “buy” rating and set a $105.00 price objective on shares of Ross Stores in a report on Friday. DA Davidson upped their price objective on shares of Ross Stores to $92.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Finally, Wells Fargo & Co upped their price objective on shares of Ross Stores from $92.00 to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Ten analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $97.84.

NASDAQ:ROST opened at $94.51 on Friday. The firm has a market cap of $34.73 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.08 and a beta of 0.89. Ross Stores, Inc. has a one year low of $75.91 and a one year high of $104.35. The company has a quick ratio of 0.82, a current ratio of 1.69 and a debt-to-equity ratio of 0.09.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.01. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Ross Stores had a net margin of 10.60% and a return on equity of 49.58%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 EPS. As a group, analysts forecast that Ross Stores, Inc. will post 4.5 earnings per share for the current fiscal year.

Ross Stores declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 5th that allows the company to repurchase $2.55 billion in shares. This repurchase authorization allows the apparel retailer to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, June 10th. Ross Stores’s dividend payout ratio is 23.94%.

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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 brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

Further Reading: What is the return on assets (ROA) ratio?

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Institutional Ownership by Quarter for Ross Stores (NASDAQ:ROST)

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