Crossmark Global Holdings Inc. lowered its holdings in shares of Ross Stores, Inc. (NASDAQ:ROST) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,830 shares of the apparel retailer’s stock after selling 817 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Ross Stores were worth $4,825,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bollard Group LLC bought a new position in shares of Ross Stores during the fourth quarter worth about $25,000. CI Investments Inc. bought a new position in shares of Ross Stores during the fourth quarter worth about $26,000. First Manhattan Co. bought a new position in shares of Ross Stores during the first quarter worth about $27,000. Athena Capital Advisors LLC bought a new position in shares of Ross Stores during the fourth quarter worth about $29,000. Finally, Moody National Bank Trust Division bought a new position in shares of Ross Stores during the fourth quarter worth about $30,000. 91.26% of the stock is currently owned by institutional investors.
ROST stock opened at $96.83 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.69 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $35.58 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 2.08 and a beta of 0.89. Ross Stores, Inc. has a twelve month low of $75.91 and a twelve month high of $104.35.
Ross Stores declared that its Board of Directors has approved a stock buyback program on Tuesday, March 5th that allows the company to buyback $2.55 billion in shares. This buyback authorization allows the apparel retailer to repurchase up to 7.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
In other news, insider Bernard G. Brautigan sold 12,000 shares of Ross Stores stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $91.18, for a total transaction of $1,094,160.00. Following the completion of the transaction, the insider now directly owns 174,450 shares in the company, valued at approximately $15,906,351. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael Balmuth sold 20,057 shares of Ross Stores stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $88.82, for a total value of $1,781,462.74. Following the transaction, the chairman now owns 134,567 shares of the company’s stock, valued at $11,952,240.94. The disclosure for this sale can be found here. Insiders have sold a total of 137,054 shares of company stock valued at $12,504,328 over the last quarter. 2.30% of the stock is currently owned by corporate insiders.
ROST has been the subject of a number of research reports. Loop Capital increased their price objective on Ross Stores to $105.00 and gave the stock a “buy” rating in a report on Thursday, January 24th. Zacks Investment Research upgraded Ross Stores from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Wednesday, January 23rd. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a report on Thursday, January 10th. Guggenheim reiterated a “buy” rating and set a $105.00 price objective on shares of Ross Stores in a report on Tuesday, March 5th. Finally, DA Davidson increased their price objective on Ross Stores to $92.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $97.42.
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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.
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